Wells Fargo & Company Trims Valero Energy (NYSE:VLO) Target Price to $156.00

Valero Energy (NYSE:VLO) had its price target cut by Wells Fargo & Company from $179.00 to $156.00 in a report released on Friday, Benzinga reports. They currently have an equal weight rating on the oil and gas company’s stock.

A number of other research firms also recently commented on VLO. TD Cowen cut their price objective on shares of Valero Energy from $190.00 to $185.00 and set a buy rating for the company in a report on Monday, April 29th. Bank of America raised Valero Energy from a neutral rating to a buy rating and increased their price target for the company from $156.00 to $210.00 in a report on Friday, March 15th. Barclays lowered their price objective on Valero Energy from $171.00 to $165.00 and set an overweight rating on the stock in a research note on Tuesday, July 9th. The Goldman Sachs Group upped their target price on Valero Energy from $130.00 to $171.00 and gave the company a sell rating in a report on Friday, March 22nd. Finally, Mizuho reduced their price target on Valero Energy from $176.00 to $171.00 and set a neutral rating on the stock in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $170.07.

Valero Energy Stock Performance

Shares of NYSE:VLO opened at $147.92 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.59 and a quick ratio of 1.10. Valero Energy has a 1 year low of $112.67 and a 1 year high of $184.79. The firm has a market capitalization of $48.37 billion, a PE ratio of 7.33, a P/E/G ratio of 1.61 and a beta of 1.42. The business’s 50 day moving average price is $155.13 and its 200-day moving average price is $151.90.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, April 25th. The oil and gas company reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.64. Valero Energy had a net margin of 5.01% and a return on equity of 24.82%. The company had revenue of $31.76 billion for the quarter, compared to analysts’ expectations of $32.02 billion. During the same quarter in the previous year, the company posted $8.27 EPS. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. As a group, equities research analysts expect that Valero Energy will post 15.34 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, May 30th were given a dividend of $1.07 per share. The ex-dividend date was Thursday, May 30th. This represents a $4.28 annualized dividend and a dividend yield of 2.89%. Valero Energy’s dividend payout ratio is currently 21.20%.

Insider Activity

In related news, Director Kimberly S. Greene sold 720 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $158.12, for a total transaction of $113,846.40. Following the transaction, the director now owns 13,314 shares of the company’s stock, valued at approximately $2,105,209.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Valero Energy

Institutional investors have recently modified their holdings of the business. Modera Wealth Management LLC acquired a new stake in Valero Energy in the 3rd quarter valued at about $274,000. Wellington Management Group LLP raised its holdings in Valero Energy by 10.6% in the third quarter. Wellington Management Group LLP now owns 43,597 shares of the oil and gas company’s stock valued at $6,178,000 after acquiring an additional 4,184 shares in the last quarter. Anchor Investment Management LLC purchased a new position in Valero Energy in the fourth quarter worth approximately $223,000. Exchange Traded Concepts LLC grew its holdings in Valero Energy by 32,357.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 8,439 shares of the oil and gas company’s stock worth $1,097,000 after acquiring an additional 8,413 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its position in shares of Valero Energy by 0.3% in the 4th quarter. Capital Investment Advisors LLC now owns 35,679 shares of the oil and gas company’s stock valued at $4,638,000 after purchasing an additional 92 shares during the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

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.