Valero Energy (NYSE:VLO – Get Free Report) had its price target hoisted by research analysts at The Goldman Sachs Group from $365.00 to $457.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 21.27% from the company’s previous close.
VLO has been the subject of a number of other research reports. Erste Group Bank cut shares of Valero Energy from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. Zacks Research upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Mizuho boosted their price objective on shares of Valero Energy from $289.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Piper Sandler increased their target price on shares of Valero Energy from $329.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $401.00 target price on shares of Valero Energy in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Valero Energy presently has an average rating of “Moderate Buy” and a consensus target price of $335.12.
Read Our Latest Analysis on VLO
Valero Energy Stock Performance
Valero Energy (NYSE:VLO – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.11 by $2.43. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The business had revenue of $44.48 billion during the quarter, compared to the consensus estimate of $39.47 billion. During the same period in the previous year, the company posted $2.28 EPS. The firm’s quarterly revenue was up 48.8% on a year-over-year basis. Research analysts anticipate that Valero Energy will post 48.58 earnings per share for the current year.
Insider Buying and Selling
In related news, SVP Eric 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 completion of the sale, the senior vice president owned 19,742 shares of the company’s stock, valued at $5,294,212.14. This represents a 27.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.36% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Valero Energy
Several hedge funds and other institutional investors have recently made changes to their positions in VLO. Bank of America Corp DE lifted its holdings in shares of Valero Energy by 11.4% during the 1st quarter. Bank of America Corp DE now owns 5,033,310 shares of the oil and gas company’s stock worth $1,243,630,000 after acquiring an additional 516,975 shares during the period. Norges Bank bought a new position in Valero Energy in the fourth quarter valued at approximately $1,111,542,000. Franklin Resources Inc. raised its position in Valero Energy by 7.5% during the fourth quarter. Franklin Resources Inc. now owns 5,668,210 shares of the oil and gas company’s stock valued at $922,728,000 after purchasing an additional 394,693 shares in the last quarter. Bank of New York Mellon Corp raised its position in Valero Energy by 9.4% during the first quarter. Bank of New York Mellon Corp now owns 2,969,320 shares of the oil and gas company’s stock valued at $733,660,000 after purchasing an additional 254,604 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Valero Energy by 18.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,842,339 shares of the oil and gas company’s stock worth $702,285,000 after purchasing an additional 442,177 shares during the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.
Key Headlines Impacting Valero Energy
Here are the key news stories impacting Valero Energy this week:
- Positive Sentiment: Jefferies’ $401 price target implies potential upside from recent levels, even though the firm now recommends holding rather than buying VLO. Jefferies Downgrades Valero Energy to Hold From Buy
- Positive Sentiment: VLO remains supported by strong refining fundamentals. Its latest reported quarter substantially exceeded earnings and revenue expectations, and Zacks recently identified the company as a candidate for an upcoming earnings beat. Stocks Likely to Deliver Earnings Beats
- Neutral Sentiment: A comparison of Valero with renewable-natural-gas company OPAL Fuels presents VLO as a larger, more established energy business, but does not identify a new company-specific catalyst. Analyzing OPAL Fuels and Valero Energy
- Negative Sentiment: Jefferies’ downgrade signals that much of the refining-stock rally may already be priced in, prompting investors to reduce exposure after VLO’s strong gains. Valero and Marathon Cut at Jefferies
- Negative Sentiment: Record diesel prices have benefited Valero, but they may also encourage demand destruction. Possible export restrictions represent an additional risk to refining margins and fuel sales. Diesel Hits a Record
- Negative Sentiment: Lower crude prices, broader weakness across the energy sector and investor profit-taking have weighed on VLO. The stock’s recent decline appears more related to sector rotation and cooling refining momentum than to a newly reported operational problem. Valero Slides as Refining Trade Cools
About Valero Energy
Valero Energy Corporation is an international energy company headquartered in San Antonio, Texas. Its primary business is refining crude oil into transportation fuels and other products, including gasoline, diesel, jet fuel, asphalt, lubricants and petrochemical feedstocks.
Valero operates refineries and related facilities in the United States, Canada and the United Kingdom, and markets its products through wholesale and commercial channels in North America and other international markets.
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