Scotiabank Has Lowered Expectations for Valero Energy (NYSE:VLO) Stock Price

Valero Energy (NYSE:VLO) had its target price reduced by investment analysts at Scotiabank from $156.00 to $136.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “sector outperform” rating on the oil and gas company’s stock. Scotiabank’s target price points to a potential upside of 22.98% from the company’s previous close.

Several other brokerages have also commented on VLO. Raymond James cut their price objective on Valero Energy from $165.00 to $155.00 and set a “strong-buy” rating for the company in a report on Wednesday. Piper Sandler cut their price target on Valero Energy from $149.00 to $144.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Tudor Pickering upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Wells Fargo & Company cut their target price on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Mizuho decreased their price target on shares of Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Valero Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.46.

Valero Energy Stock Performance

VLO traded up $1.58 during midday trading on Friday, hitting $110.59. 3,775,376 shares of the company traded hands, compared to its average volume of 3,616,940. The company’s 50-day moving average is $128.64 and its 200 day moving average is $131.89. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $34.83 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 2.93 and a beta of 1.17. Valero Energy has a 52 week low of $99.00 and a 52 week high of $178.39.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.50. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. On average, research analysts expect that Valero Energy will post 7.92 EPS for the current year.

Hedge Funds Weigh In On Valero Energy

Several large investors have recently made changes to their positions in VLO. Norges Bank purchased a new position in Valero Energy in the 4th quarter worth approximately $669,400,000. Vanguard Group Inc. lifted its holdings in shares of Valero Energy by 16.1% in the fourth quarter. Vanguard Group Inc. now owns 34,725,700 shares of the oil and gas company’s stock worth $4,257,024,000 after buying an additional 4,805,133 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Valero Energy by 15,395.5% during the first quarter. GAMMA Investing LLC now owns 1,355,699 shares of the oil and gas company’s stock worth $179,047,000 after acquiring an additional 1,346,950 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Valero Energy during the fourth quarter valued at $132,469,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Valero Energy in the 4th quarter valued at $98,376,000. 78.69% of the stock is currently owned by hedge funds and other 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.