Morgan Stanley Forecasts Strong Price Appreciation for Valero Energy (NYSE:VLO) Stock

Valero Energy (NYSE:VLO) had its price target boosted by Morgan Stanley from $232.00 to $255.00 in a report released on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Morgan Stanley’s price target suggests a potential downside of 2.10% from the company’s current price.

Several other research firms have also recently issued reports on VLO. The Goldman Sachs Group upped their target price on shares of Valero Energy from $203.00 to $237.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Barclays increased their price target on Valero Energy from $184.00 to $261.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. UBS Group reiterated a “buy” rating and issued a $280.00 price objective on shares of Valero Energy in a research note on Thursday. BMO Capital Markets increased their price objective on shares of Valero Energy from $230.00 to $270.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Finally, Weiss Ratings upgraded shares of Valero Energy from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $245.59.

Valero Energy Stock Performance

VLO stock traded up $4.86 during midday trading on Friday, reaching $260.46. 1,114,427 shares of the company’s stock traded hands, compared to its average volume of 3,511,467. The company has a 50-day moving average price of $245.17 and a two-hundred day moving average price of $212.22. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.15 and a current ratio of 1.58. Valero Energy has a 52 week low of $130.78 and a 52 week high of $265.61. The firm has a market capitalization of $77.34 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 0.38 and a beta of 0.55.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $4.22 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $1.06. The business had revenue of $32.38 billion for the quarter, compared to analysts’ expectations of $31.38 billion. Valero Energy had a net margin of 3.37% and a return on equity of 15.94%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $0.89 earnings per share. As a group, equities analysts anticipate that Valero Energy will post 26.55 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. V Square Quantitative Management LLC raised its position in Valero Energy by 0.6% during the first quarter. V Square Quantitative Management LLC now owns 6,670 shares of the oil and gas company’s stock worth $1,648,000 after acquiring an additional 42 shares during the period. CYBER HORNET ETFs LLC grew its stake in Valero Energy by 5.5% during the 4th quarter. CYBER HORNET ETFs LLC now owns 975 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 51 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in Valero Energy by 32.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 206 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 51 shares in the last quarter. Providence Wealth Advisors LLC lifted its stake in Valero Energy by 0.5% during the fourth quarter. Providence Wealth Advisors LLC now owns 9,610 shares of the oil and gas company’s stock worth $1,564,000 after purchasing an additional 52 shares during the last quarter. Finally, KPP Advisory Services LLC boosted its position in shares of Valero Energy by 2.5% in the 1st quarter. KPP Advisory Services LLC now owns 2,156 shares of the oil and gas company’s stock valued at $533,000 after purchasing an additional 52 shares during the period. Institutional investors own 78.69% of the company’s stock.

About Valero Energy

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.