Valero Energy (NYSE:VLO) Raised to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Valero Energy (NYSE:VLO) from an equal weight rating to an overweight rating in a report released on Wednesday, MarketBeat.com reports. The firm currently has $165.00 price objective on the oil and gas company’s stock, down from their previous price objective of $172.00.

Other equities analysts also recently issued reports about the stock. Mizuho reduced their price objective on shares of Valero Energy from $175.00 to $171.00 and set an outperform rating for the company in a research note on Monday, September 16th. The Goldman Sachs Group reduced their price objective on shares of Valero Energy from $149.00 to $131.00 and set a sell rating for the company in a research note on Monday, September 16th. Wolfe Research initiated coverage on shares of Valero Energy in a research note on Thursday, July 18th. They issued an outperform rating and a $177.00 target price for the company. StockNews.com downgraded shares of Valero Energy from a buy rating to a hold rating in a research note on Wednesday, July 17th. Finally, Barclays cut their target price on shares of Valero Energy from $165.00 to $146.00 and set an overweight rating for the company in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Valero Energy has an average rating of Moderate Buy and a consensus price target of $162.60.

Valero Energy Price Performance

VLO opened at $142.34 on Wednesday. The stock has a market cap of $45.60 billion, a P/E ratio of 8.13, a P/E/G ratio of 3.71 and a beta of 1.39. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.34. Valero Energy has a 12 month low of $119.88 and a 12 month high of $184.79. The company has a fifty day simple moving average of $141.01 and a 200 day simple moving average of $152.90.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.11. The firm had revenue of $34.49 billion during the quarter, compared to analyst estimates of $32.97 billion. Valero Energy had a net margin of 4.25% and a return on equity of 21.01%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $5.40 EPS. On average, research analysts expect that Valero Energy will post 9.61 EPS for the current year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st were given a dividend of $1.07 per share. The ex-dividend date was Thursday, August 1st. This represents a $4.28 annualized dividend and a yield of 3.01%. Valero Energy’s dividend payout ratio is currently 24.46%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in Valero Energy during the second quarter valued at approximately $27,000. Lynx Investment Advisory acquired a new position in Valero Energy during the second quarter valued at approximately $29,000. Pathway Financial Advisers LLC acquired a new position in Valero Energy during the first quarter valued at approximately $33,000. Rise Advisors LLC acquired a new position in Valero Energy during the first quarter valued at approximately $33,000. Finally, Summit Securities Group LLC bought a new stake in shares of Valero Energy during the second quarter worth $31,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

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.