Valero Energy (NYSE:VLO) Coverage Initiated by Analysts at Bank of America

Analysts at Bank of America assumed coverage on shares of Valero Energy (NYSE:VLO) in a report released on Thursday, StockNewsAPI reports. The firm set a “neutral” rating and a $150.00 price target on the oil and gas company’s stock. Bank of America‘s price objective would suggest a potential upside of 10.44% from the company’s current price.

VLO has been the subject of a number of other reports. Wells Fargo & Company raised shares of Valero Energy from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $172.00 to $165.00 in a research report on Wednesday, October 9th. Scotiabank reduced their target price on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Piper Sandler downgraded Valero Energy from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $169.00 to $123.00 in a research note on Friday, September 20th. The Goldman Sachs Group reduced their price objective on Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. lowered 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 report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Valero Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.60.

Valero Energy Trading Up 0.2 %

NYSE:VLO opened at $135.82 on Thursday. 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 has a 1 year low of $119.88 and a 1 year high of $184.79. The stock has a market cap of $43.51 billion, a P/E ratio of 7.74, a P/E/G ratio of 3.75 and a beta of 1.39. The stock has a 50-day simple moving average of $140.35 and a 200-day simple moving average of $152.12.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.11. The firm had revenue of $34.49 billion during the quarter, compared to the consensus estimate of $32.97 billion. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $5.40 earnings per share. As a group, analysts anticipate that Valero Energy will post 9.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Valero Energy

A number of hedge funds have recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new stake in shares of Valero Energy in the 2nd quarter valued at approximately $27,000. Lynx Investment Advisory acquired a new stake in Valero Energy in the second quarter valued at $29,000. Summit Securities Group LLC purchased a new stake in shares of Valero Energy during the 2nd quarter worth $31,000. Rise Advisors LLC acquired a new position in shares of Valero Energy during the 1st quarter worth $33,000. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Valero Energy in the 1st quarter valued at about $33,000. Institutional investors and hedge funds 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.