Valero Energy (NYSE:VLO) Given New $414.00 Price Target at Bank of America

Valero Energy (NYSE:VLO) had its target price upped by equities researchers at Bank of America from $395.00 to $414.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. Bank of America‘s target price would suggest a potential upside of 1.49% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. Mizuho boosted their price objective on shares of Valero Energy from $289.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. The Goldman Sachs Group lifted their price target on Valero Energy from $365.00 to $457.00 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. Erste Group Bank cut Valero Energy from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. Wells Fargo & Company increased their price objective on Valero Energy from $356.00 to $389.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st. Finally, Zacks Research raised Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $348.81.

Valero Energy Price Performance

NYSE VLO opened at $407.94 on Friday. The business has a 50 day simple moving average of $354.46 and a 200 day simple moving average of $289.07. Valero Energy has a 52-week low of $155.29 and a 52-week high of $419.04. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.23 and a current ratio of 1.64. The stock has a market cap of $117.46 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 0.26 and a beta of 0.59.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share for the quarter, beating analysts’ consensus estimates of $10.11 by $2.43. The firm had revenue of $44.48 billion for the quarter, compared to analyst estimates of $39.47 billion. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The business’s revenue was up 48.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.28 earnings per share. Analysts anticipate that Valero Energy will post 49.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valero Energy

Several hedge funds have recently modified their holdings of VLO. Moore Capital Management LP bought a new position in Valero Energy in the second quarter valued at approximately $13,193,000. Fort Washington Investment Advisors Inc. OH raised its stake in shares of Valero Energy by 4.2% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 192,430 shares of the oil and gas company’s stock worth $47,546,000 after purchasing an additional 7,702 shares in the last quarter. Dymon Asia Capital Singapore PTE. LTD. acquired a new stake in shares of Valero Energy in the 4th quarter valued at approximately $2,268,000. TrueMark Investments LLC acquired a new stake in shares of Valero Energy in the 1st quarter valued at approximately $8,921,000. Finally, Jennison Associates LLC grew its stake in shares of Valero Energy by 377.1% in the first quarter. Jennison Associates LLC now owns 413,437 shares of the oil and gas company’s stock valued at $102,152,000 after buying an additional 326,777 shares in the last quarter. Institutional investors own 78.69% of the company’s stock.

Valero Energy Company Profile

Valero Energy Corporation is an international petroleum refining, renewable fuels and marketing company headquartered in San Antonio, Texas. Founded in 1980, the company processes crude oil and other feedstocks into transportation fuels and other products used by commercial, industrial and consumer customers.

Valero’s refined products include gasoline, diesel, jet fuel, asphalt, lubricants and petrochemical feedstocks. The company also produces and markets ethanol and renewable diesel, including through its Diamond Green Diesel joint venture with Darling Ingredients.