Valero Energy (NYSE:VLO) Shares Down 2.6% – Here’s Why

Valero Energy Corporation (NYSE:VLO)’s share price was down 2.6% on Monday. The stock traded as low as $431.23 and last traded at $433.0160. Approximately 2,290,282 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 3,311,299 shares. The stock had previously closed at $444.71.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VLO. Wells Fargo & Company lifted their price target on shares of Valero Energy from $389.00 to $485.00 and gave the company an “overweight” rating in a research report on Wednesday, October 14th. Jefferies Financial Group decreased their price objective on Valero Energy from $401.00 to $394.00 and set a “hold” rating on the stock in a report on Thursday, October 8th. TD Cowen increased their price objective on Valero Energy from $338.00 to $350.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings raised Valero Energy from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Finally, Piper Sandler raised their target price on Valero Energy from $329.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $382.62.

Valero Energy Stock Up 0.1%

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.64 and a quick ratio of 1.23. The business has a 50 day simple moving average of $387.70 and a 200 day simple moving average of $306.74. The company has a market capitalization of $124.92 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 0.28 and a beta of 0.59.

Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $12.54 EPS for the quarter, topping the consensus estimate of $10.11 by $2.43. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%. The business had revenue of $44.48 billion during the quarter, compared to analyst estimates of $39.47 billion. During the same period last year, the business posted $2.28 earnings per share. The company’s quarterly revenue was up 48.8% on a year-over-year basis. As a group, equities analysts predict that Valero Energy Corporation will post 51.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valero Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Zone Wealth Advisors LLC increased its holdings in shares of Valero Energy by 2.4% in the third quarter. Blue Zone Wealth Advisors LLC now owns 1,027 shares of the oil and gas company’s stock valued at $398,000 after purchasing an additional 24 shares during the period. Grove Bank & Trust raised its stake in shares of Valero Energy by 1.0% during the third quarter. Grove Bank & Trust now owns 2,608 shares of the oil and gas company’s stock worth $1,011,000 after purchasing an additional 25 shares during the last quarter. Cornerstone Financial Management LLC lifted its holdings in shares of Valero Energy by 57.6% during the second quarter. Cornerstone Financial Management LLC now owns 104 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 38 shares during the period. V Square Quantitative Management LLC lifted its holdings in shares of Valero Energy by 0.6% during the first quarter. V Square Quantitative Management LLC now owns 6,670 shares of the oil and gas company’s stock worth $1,648,000 after purchasing an additional 42 shares during the period. Finally, Bouchey Financial Group Ltd. lifted its holdings in shares of Valero Energy by 4.6% during the second quarter. Bouchey Financial Group Ltd. now owns 1,016 shares of the oil and gas company’s stock worth $265,000 after purchasing an additional 45 shares during the period. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

About Valero Energy

Valero Energy Corporation is an international energy company headquartered in San Antonio, Texas. The company’s primary business is refining and marketing transportation fuels, including gasoline, diesel, jet fuel and other products used by commercial, industrial and consumer customers.

Valero operates refineries in the United States, Canada and the United Kingdom. Its refining operations also produce asphalt, petrochemical feedstocks and other petroleum-based products. The company markets fuel through wholesale channels and branded retail networks, including Valero, Beacon and Shamrock-branded locations.

In addition to conventional refining, Valero has businesses focused on renewable fuels.