Valero Energy (NYSE:VLO) Raised to “Overweight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Valero Energy (NYSE:VLO) from an equal weight rating to an overweight rating in a research note released on Wednesday, Marketbeat reports. Wells Fargo & Company currently has $165.00 price target on the oil and gas company’s stock, down from their previous price target of $172.00.

VLO has been the subject of a number of other reports. Wolfe Research began coverage on Valero Energy in a report on Thursday, July 18th. They set an outperform rating and a $177.00 price target for the company. BMO Capital Markets decreased their target price on Valero Energy from $175.00 to $165.00 and set an outperform rating for the company in a research note on Friday, October 4th. JPMorgan Chase & Co. dropped their price target on shares of Valero Energy from $172.00 to $151.00 and set an overweight rating on the stock in a research note on Wednesday, October 2nd. Barclays reduced their price objective on shares of Valero Energy from $165.00 to $146.00 and set an overweight rating for the company in a research report on Wednesday, October 2nd. Finally, StockNews.com downgraded shares of Valero Energy from a buy rating to a hold rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $162.60.

Valero Energy Stock Performance

Shares of Valero Energy stock opened at $142.34 on Wednesday. The business has a 50-day simple moving average of $141.01 and a 200-day simple moving average of $152.80. The company has a market cap of $45.60 billion, a PE ratio of 8.13, a P/E/G ratio of 3.71 and a beta of 1.39. Valero Energy has a one year low of $119.88 and a one year high of $184.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.04 and a current ratio of 1.48.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.60 by $0.11. The company had revenue of $34.49 billion during the quarter, compared to analysts’ expectations of $32.97 billion. Valero Energy had a net margin of 4.25% and a return on equity of 21.01%. The firm’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.40 EPS. On average, equities research analysts forecast that Valero Energy will post 9.61 EPS for the current fiscal year.

Valero Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st were paid a $1.07 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $4.28 annualized dividend and a dividend yield of 3.01%. Valero Energy’s dividend payout ratio (DPR) is currently 24.46%.

Institutional Investors Weigh In On Valero Energy

Several large investors have recently modified their holdings of the stock. Acadian Asset Management LLC increased its stake in Valero Energy by 37.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,558,750 shares of the oil and gas company’s stock valued at $266,040,000 after buying an additional 426,093 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Valero Energy by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,319,436 shares of the oil and gas company’s stock worth $677,007,000 after acquiring an additional 237,347 shares during the period. AQR Capital Management LLC raised its holdings in Valero Energy by 17.6% during the second quarter. AQR Capital Management LLC now owns 1,550,010 shares of the oil and gas company’s stock worth $238,841,000 after purchasing an additional 232,494 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in Valero Energy in the first quarter valued at about $39,517,000. Finally, Hsbc Holdings PLC boosted its holdings in Valero Energy by 20.5% in the 2nd quarter. Hsbc Holdings PLC now owns 1,145,117 shares of the oil and gas company’s stock valued at $179,490,000 after purchasing an additional 194,974 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.