Valero Energy (NYSE:VLO) Given New $176.00 Price Target at Citigroup

Valero Energy (NYSE:VLO) had its price objective reduced by Citigroup from $192.00 to $176.00 in a research report sent to investors on Friday morning, Benzinga reports. Citigroup currently has a buy rating on the oil and gas company’s stock.

A number of other research firms have also issued reports on VLO. StockNews.com lowered shares of Valero Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Wolfe Research initiated coverage on shares of Valero Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $177.00 price objective for the company. JPMorgan Chase & Co. decreased their target price 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. Scotiabank dropped their price target on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Barclays reduced their price objective on Valero Energy from $165.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $154.53.

Valero Energy Trading Down 0.1 %

Shares of Valero Energy stock opened at $132.31 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 0.34. Valero Energy has a twelve month low of $119.88 and a twelve month high of $184.79. The firm has a market capitalization of $42.39 billion, a PE ratio of 11.87, a P/E/G ratio of 3.45 and a beta of 1.39. The firm’s 50-day moving average price is $137.89 and its 200 day moving average price is $149.45.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.16. Valero Energy had a return on equity of 13.01% and a net margin of 2.74%. The business had revenue of $32.88 billion for the quarter, compared to the consensus estimate of $31.04 billion. During the same quarter last year, the business posted $7.49 earnings per share. The business’s quarterly revenue was down 14.4% compared to the same quarter last year. On average, sell-side analysts predict that Valero Energy will post 9.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Valero Energy

Large investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. raised its position in Valero Energy by 2.8% in the second quarter. Ameriprise Financial Inc. now owns 6,956,743 shares of the oil and gas company’s stock valued at $1,090,532,000 after purchasing an additional 192,397 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Valero Energy by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,319,436 shares of the oil and gas company’s stock valued at $677,007,000 after buying an additional 237,347 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Valero Energy by 1.9% in the 2nd quarter. Pacer Advisors Inc. now owns 3,018,107 shares of the oil and gas company’s stock valued at $473,118,000 after buying an additional 56,989 shares during the period. Legal & General Group Plc lifted its stake in Valero Energy by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 2,809,355 shares of the oil and gas company’s stock worth $440,394,000 after acquiring an additional 82,539 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Valero Energy by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,063,923 shares of the oil and gas company’s stock valued at $352,292,000 after acquiring an additional 65,632 shares during the period. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Company Profile

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.