Valero Energy (NYSE:VLO) Price Target Cut to $140.00 by Analysts at Piper Sandler

Valero Energy (NYSE:VLO) had its price objective trimmed by Piper Sandler from $144.00 to $140.00 in a report released on Friday,Benzinga reports. The firm currently has an overweight rating on the oil and gas company’s stock.

Other equities analysts have also recently issued research reports about the company. UBS Group lowered their target price on Valero Energy from $160.00 to $150.00 and set a “buy” rating for the company in a report on Monday, April 28th. Wells Fargo & Company decreased their price objective on Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Scotiabank cut their target price on Valero Energy from $156.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. TD Cowen reduced their price target on Valero Energy from $121.00 to $118.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, The Goldman Sachs Group upgraded shares of Valero Energy from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $115.00 to $127.00 in a report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.53.

Valero Energy Stock Up 1.0 %

Shares of Valero Energy stock opened at $122.97 on Friday. The company has a market capitalization of $38.51 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 2.93 and a beta of 0.98. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. The business has a 50-day moving average of $120.15 and a two-hundred day moving average of $128.47. Valero Energy has a 1 year low of $99.00 and a 1 year high of $167.78.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.27). The business had revenue of $28.76 billion for the quarter, compared to the consensus estimate of $28.54 billion. Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. Valero Energy’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.82 earnings per share. As a group, equities analysts predict that Valero Energy will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, May 20th will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Tuesday, May 20th. Valero Energy’s dividend payout ratio (DPR) is presently 159.72%.

Hedge Funds Weigh In On Valero Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ontario Teachers Pension Plan Board boosted its holdings in shares of Valero Energy by 47.0% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 23,187 shares of the oil and gas company’s stock worth $3,062,000 after buying an additional 7,410 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Valero Energy by 6.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 11,437,765 shares of the oil and gas company’s stock worth $1,510,586,000 after acquiring an additional 736,533 shares during the period. Citizens Financial Group Inc. RI grew its position in shares of Valero Energy by 2.2% in the first quarter. Citizens Financial Group Inc. RI now owns 3,798 shares of the oil and gas company’s stock valued at $502,000 after purchasing an additional 82 shares during the last quarter. Hemington Wealth Management increased its stake in shares of Valero Energy by 39.9% during the first quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 95 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Valero Energy by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company’s stock worth $5,135,043,000 after purchasing an additional 4,155,522 shares during the last quarter. 78.69% of the stock is owned by institutional investors.

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.