Valero Energy (NYSE:VLO) Given New $179.00 Price Target at Wells Fargo & Company

Valero Energy (NYSE:VLO) had its target price dropped by Wells Fargo & Company from $184.00 to $179.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 15.91% from the company’s current price.

A number of other research firms have also weighed in on VLO. Scotiabank boosted their price objective on Valero Energy from $138.00 to $165.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Barclays lowered their price objective on Valero Energy from $179.00 to $173.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Citigroup boosted their price objective on Valero Energy from $160.00 to $192.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Mizuho upped their price target on Valero Energy from $173.00 to $176.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Finally, UBS Group upped their price target on Valero Energy from $167.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.53.

Valero Energy Stock Performance

Shares of NYSE:VLO opened at $154.43 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.59 and a quick ratio of 1.10. The business’s 50 day moving average price is $163.99 and its 200-day moving average price is $147.24. The firm has a market capitalization of $50.50 billion, a PE ratio of 7.65, a P/E/G ratio of 1.44 and a beta of 1.47. Valero Energy has a 1 year low of $108.28 and a 1 year high of $184.79.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.64. The firm had revenue of $31.76 billion for the quarter, compared to analyst estimates of $32.02 billion. Valero Energy had a return on equity of 24.82% and a net margin of 5.01%. The business’s revenue was down 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $8.27 earnings per share. As a group, equities research analysts expect that Valero Energy will post 17.82 earnings per share for the current fiscal year.

Insider Activity at Valero Energy

In related news, Director Kimberly S. Greene sold 720 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $158.12, for a total value of $113,846.40. Following the sale, the director now owns 13,314 shares in the company, valued at approximately $2,105,209.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.04% of the company’s stock.

Institutional Investors Weigh In On Valero Energy

Several large investors have recently bought and sold shares of VLO. Oppenheimer Asset Management Inc. purchased a new stake in Valero Energy during the 3rd quarter worth about $203,000. Spire Wealth Management boosted its position in shares of Valero Energy by 11.7% during the 3rd quarter. Spire Wealth Management now owns 2,683 shares of the oil and gas company’s stock worth $380,000 after acquiring an additional 282 shares in the last quarter. AMG National Trust Bank acquired a new position in shares of Valero Energy during the 3rd quarter worth about $220,000. Pathstone Family Office LLC boosted its position in shares of Valero Energy by 433.4% during the 3rd quarter. Pathstone Family Office LLC now owns 23,127 shares of the oil and gas company’s stock worth $3,277,000 after acquiring an additional 18,791 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Valero Energy by 10.7% during the 3rd quarter. HighTower Advisors LLC now owns 206,397 shares of the oil and gas company’s stock worth $29,264,000 after acquiring an additional 19,945 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.