Scotiabank Issues Positive Forecast for Valero Energy (NYSE:VLO) Stock Price

Valero Energy (NYSE:VLOGet Free Report) had its price objective lifted by research analysts at Scotiabank from $178.00 to $226.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the oil and gas company’s stock. Scotiabank’s price target would suggest a potential downside of 3.42% from the stock’s current price.

VLO has been the topic of several other research reports. JPMorgan Chase & Co. boosted their price target on Valero Energy from $197.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Wall Street Zen upgraded Valero Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 4th. Weiss Ratings restated a “hold (c)” rating on shares of Valero Energy in a research report on Wednesday, January 21st. UBS Group boosted their price target on Valero Energy from $215.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Finally, Citigroup boosted their price target on Valero Energy from $212.00 to $246.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $228.18.

Check Out Our Latest Report on Valero Energy

Valero Energy Stock Performance

Shares of Valero Energy stock traded up $0.61 on Wednesday, hitting $234.00. The stock had a trading volume of 1,207,566 shares, compared to its average volume of 3,809,617. Valero Energy has a 52-week low of $110.00 and a 52-week high of $258.43. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.36. The stock has a market cap of $69.97 billion, a price-to-earnings ratio of 30.59, a P/E/G ratio of 0.47 and a beta of 0.62. The company’s 50 day moving average price is $226.49 and its 200 day moving average price is $192.86.

Valero Energy (NYSE:VLOGet Free Report) last issued its quarterly earnings results on Thursday, January 29th. The oil and gas company reported $3.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.55. The firm had revenue of $30.37 billion for the quarter, compared to analysts’ expectations of $28.20 billion. Valero Energy had a return on equity of 12.35% and a net margin of 1.91%.The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS. On average, research analysts anticipate that Valero Energy will post 18.36 EPS for the current year.

Insider Transactions at Valero Energy

In other Valero Energy news, SVP Eric A. Fisher sold 8,311 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $227.69, for a total transaction of $1,892,331.59. Following the transaction, the senior vice president owned 42,242 shares in the company, valued at approximately $9,618,080.98. The trade was a 16.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Valero Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPL Wealth Management LLC acquired a new position in Valero Energy during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC increased its position in Valero Energy by 70.2% during the 3rd quarter. Highline Wealth Partners LLC now owns 160 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 66 shares during the period. Torren Management LLC acquired a new position in Valero Energy during the 4th quarter worth approximately $30,000. AXS Investments LLC purchased a new stake in shares of Valero Energy during the 4th quarter worth approximately $32,000. Finally, Cypress Capital Management LLC WY purchased a new stake in shares of Valero Energy during the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Key Stories Impacting Valero Energy

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Valero Energy Company Profile

(Get Free Report)

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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Analyst Recommendations for Valero Energy (NYSE:VLO)

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