Valero Energy (NYSE:VLO) Downgraded to Neutral at Piper Sandler

Valero Energy (NYSE:VLO) was downgraded by Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued on Friday, Briefing.com reports. They presently have a $123.00 target price on the oil and gas company’s stock, down from their prior target price of $169.00. Piper Sandler’s target price would suggest a potential downside of 11.30% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Scotiabank raised their target price on shares of Valero Energy from $165.00 to $173.00 and gave the company a “sector outperform” rating in a research note on Friday, July 12th. StockNews.com downgraded shares of Valero Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. dropped their price objective on Valero Energy from $178.00 to $172.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Wells Fargo & Company upped their price target on shares of Valero Energy from $165.00 to $172.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 3rd. Finally, Wolfe Research began coverage on shares of Valero Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $177.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $168.07.

Valero Energy Stock Performance

NYSE:VLO opened at $138.67 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $145.69 and a 200 day moving average price of $155.13. Valero Energy has a 12-month low of $119.88 and a 12-month high of $184.79. The firm has a market capitalization of $44.43 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 2.72 and a beta of 1.40.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.11. The firm had revenue of $34.49 billion during the quarter, compared to analysts’ expectations of $32.97 billion. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $5.40 EPS. Research analysts anticipate that Valero Energy will post 12.3 earnings per share for the current fiscal year.

Institutional Trading of Valero Energy

Several institutional investors have recently added to or reduced their stakes in VLO. EdgeRock Capital LLC bought a new stake in Valero Energy in the 2nd quarter worth $27,000. Lynx Investment Advisory purchased a new stake in Valero Energy in the second quarter worth about $29,000. Summit Securities Group LLC purchased a new position in Valero Energy during the second quarter valued at $31,000. Rise Advisors LLC purchased a new position in shares of Valero Energy in the 1st quarter worth $33,000. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Valero Energy in the first quarter worth approximately $33,000. 78.69% of the stock is currently 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.