Valero Energy (NYSE:VLO – Get Free Report) had its price objective lifted by equities research analysts at Piper Sandler from $329.00 to $435.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler’s target price suggests a potential upside of 17.35% from the stock’s current price.
Several other brokerages have also recently commented on VLO. Zacks Research upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Wells Fargo & Company lifted their price target on shares of Valero Energy from $356.00 to $389.00 and gave the company an “overweight” rating in a report on Tuesday. TD Cowen lifted their price objective on Valero Energy from $338.00 to $350.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Weiss Ratings raised shares of Valero Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 6th. Finally, Raymond James Financial raised their price objective on shares of Valero Energy from $300.00 to $340.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $296.18.
Check Out Our Latest Stock Analysis on Valero Energy
Valero Energy Stock Performance
Valero Energy (NYSE:VLO – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.11 by $2.43. The firm had revenue of $44.48 billion during the quarter, compared to analysts’ expectations of $39.47 billion. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The business’s revenue for the quarter was up 48.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.28 earnings per share. Equities research analysts anticipate that Valero Energy will post 40.7 EPS for the current year.
Insider Activity at Valero Energy
In other news, SVP Eric A. Fisher sold 7,500 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $268.17, for a total transaction of $2,011,275.00. Following the transaction, the senior vice president owned 19,742 shares in the company, valued at $5,294,212.14. This represents a 27.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.36% of the stock is owned by insiders.
Institutional Investors Weigh In On Valero Energy
Institutional investors have recently modified their holdings of the company. Cornerstone Financial Management LLC raised its position in shares of Valero Energy by 57.6% in the second quarter. Cornerstone Financial Management LLC now owns 104 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 38 shares during the period. Whipplewood Advisors LLC lifted its holdings in Valero Energy by 3,400.0% during the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 102 shares during the last quarter. Financial Life Planners acquired a new stake in shares of Valero Energy during the first quarter worth approximately $28,000. Valued Wealth Advisors LLC raised its stake in shares of Valero Energy by 134.0% in the first quarter. Valued Wealth Advisors LLC now owns 117 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 67 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new position in Valero Energy in the first quarter worth $33,000. 78.69% of the stock is owned by hedge funds and other institutional investors.
About Valero Energy
Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.
In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.
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