Wells Fargo & Company Forecasts Strong Price Appreciation for Valero Energy (NYSE:VLO) Stock

Valero Energy (NYSE:VLO) had its price target upped by equities researchers at Wells Fargo & Company from $216.00 to $220.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 26.89% from the company’s previous close.

A number of other analysts have also issued reports on VLO. Mizuho boosted their price objective on Valero Energy from $166.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, September 15th. TD Cowen boosted their price target on shares of Valero Energy from $162.00 to $165.00 and gave the company a “hold” rating in a research report on Friday, October 24th. Barclays increased their price target on shares of Valero Energy from $151.00 to $169.00 and gave the stock an “overweight” rating in a report on Tuesday, October 7th. Evercore ISI lifted their price objective on shares of Valero Energy from $135.00 to $185.00 and gave the stock an “in-line” rating in a report on Friday, September 19th. Finally, Wolfe Research downgraded Valero Energy from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $179.53.

Valero Energy Stock Down 1.3%

Shares of NYSE:VLO opened at $173.38 on Monday. The company has a market capitalization of $52.88 billion, a PE ratio of 36.40, a price-to-earnings-growth ratio of 1.77 and a beta of 1.01. Valero Energy has a 1 year low of $99.00 and a 1 year high of $179.10. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.60 and a quick ratio of 1.09. The business has a fifty day moving average price of $164.33 and a two-hundred day moving average price of $145.56.

Valero Energy (NYSE:VLO) last posted its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $3.66 EPS for the quarter, beating the consensus estimate of $3.15 by $0.51. Valero Energy had a return on equity of 8.69% and a net margin of 1.21%.The business had revenue of $32.17 billion for the quarter, compared to the consensus estimate of $28.80 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. Valero Energy’s revenue for the quarter was down 2.2% on a year-over-year basis. Analysts forecast that Valero Energy will post 7.92 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its position in shares of Valero Energy by 276.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company’s stock worth $1,425,754,000 after purchasing an additional 7,931,018 shares during the last quarter. Norges Bank bought a new stake in shares of Valero Energy in the 2nd quarter worth $827,390,000. Vanguard Group Inc. lifted its holdings in shares of Valero Energy by 12.0% during the first quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company’s stock valued at $5,135,043,000 after purchasing an additional 4,155,522 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Valero Energy during the first quarter valued at $529,864,000. Finally, Invesco Ltd. increased its holdings in Valero Energy by 34.1% in the 1st quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company’s stock worth $647,823,000 after buying an additional 1,247,196 shares in the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

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.