Morgan Stanley Raises Valero Energy (NYSE:VLO) Price Target to $160.00

Valero Energy (NYSE:VLO) had its target price boosted by investment analysts at Morgan Stanley from $145.00 to $160.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s price target suggests a potential upside of 7.36% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. Wolfe Research lowered shares of Valero Energy from an “outperform” rating to a “peer perform” rating in a report on Monday. Raymond James Financial raised their price target on shares of Valero Energy from $155.00 to $172.00 and gave the stock a “strong-buy” rating in a report on Tuesday. Citigroup lowered shares of Valero Energy from a “buy” rating to a “neutral” rating and raised their price target for the stock from $134.00 to $150.00 in a report on Wednesday. Mizuho raised their price target on shares of Valero Energy from $158.00 to $166.00 and gave the stock an “outperform” rating in a report on Tuesday, May 13th. Finally, Wells Fargo & Company raised their price target on shares of Valero Energy from $151.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $153.94.

Valero Energy Price Performance

Shares of VLO opened at $149.04 on Wednesday. Valero Energy has a 1-year low of $99.00 and a 1-year high of $167.78. The company has a market cap of $46.68 billion, a price-to-earnings ratio of 52.66, a PEG ratio of 2.60 and a beta of 1.00. The company’s fifty day simple moving average is $135.20 and its 200 day simple moving average is $129.65. The company has a current ratio of 1.56, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39.

Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.27). Valero Energy had a net margin of 0.72% and a return on equity of 6.30%. The business had revenue of $28.76 billion during the quarter, compared to analyst estimates of $28.54 billion. During the same quarter last year, the company posted $3.82 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis. On average, research analysts forecast that Valero Energy will post 7.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valero Energy

Institutional investors have recently added to or reduced their stakes in the company. Hoey Investments Inc. purchased a new stake in shares of Valero Energy in the second quarter worth $26,000. Wayfinding Financial LLC purchased a new stake in shares of Valero Energy in the first quarter worth $26,000. Hazlett Burt & Watson Inc. grew its stake in shares of Valero Energy by 156.6% in the first quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 130 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Valero Energy in the fourth quarter worth $29,000. Finally, Ransom Advisory Ltd purchased a new stake in shares of Valero Energy in the first quarter worth $43,000. Institutional investors 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.