Citigroup Lowers Valero Energy (NYSE:VLO) Price Target to $176.00

Valero Energy (NYSE:VLO) had its price objective decreased by equities researchers at Citigroup from $192.00 to $176.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Citigroup’s target price suggests a potential upside of 32.93% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Barclays dropped their target price on Valero Energy from $165.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. BMO Capital Markets cut their price objective on Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Piper Sandler cut Valero Energy from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $169.00 to $123.00 in a research note on Friday, September 20th. Mizuho cut their price target on shares of Valero Energy from $175.00 to $171.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Finally, Bank of America assumed coverage on shares of Valero Energy in a report on Thursday, October 17th. They issued a “neutral” rating and a $150.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Valero Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.53.

Valero Energy Price Performance

NYSE VLO opened at $132.40 on Friday. The company has a 50-day moving average price of $138.20 and a two-hundred day moving average price of $150.13. The stock has a market cap of $42.42 billion, a price-to-earnings ratio of 7.57, a price-to-earnings-growth ratio of 3.53 and a beta of 1.39. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 0.34. Valero Energy has a 52 week low of $119.88 and a 52 week high of $184.79.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.98 by $0.16. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The firm had revenue of $32.88 billion for the quarter, compared to analysts’ expectations of $31.04 billion. During the same period last year, the firm earned $7.49 EPS. The firm’s revenue was down 14.4% compared to the same quarter last year. Analysts forecast that Valero Energy will post 9.6 EPS for the current year.

Institutional Investors Weigh In On Valero Energy

Several hedge funds have recently bought and sold shares of VLO. EdgeRock Capital LLC purchased a new stake in shares of Valero Energy in the second quarter worth approximately $27,000. Lynx Investment Advisory purchased a new stake in Valero Energy in the 2nd quarter worth approximately $29,000. Pathway Financial Advisers LLC purchased a new position in shares of Valero Energy during the 1st quarter valued at $33,000. Summit Securities Group LLC acquired a new position in shares of Valero Energy in the second quarter worth $31,000. Finally, First Foundation Advisors purchased a new stake in shares of Valero Energy during the first quarter worth $37,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

About Valero Energy

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.