Valero Energy (NYSE:VLO) Price Target Cut to $172.00

Valero Energy (NYSE:VLO) had its price objective lowered by JPMorgan Chase & Co. from $178.00 to $172.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company decreased their target price on Valero Energy from $184.00 to $179.00 and set an equal weight rating for the company in a research note on Thursday, June 6th. Barclays lowered their price objective on shares of Valero Energy from $173.00 to $171.00 and set an overweight rating for the company in a research note on Monday. The Goldman Sachs Group increased their target price on shares of Valero Energy from $130.00 to $171.00 and gave the stock a sell rating in a research note on Friday, March 22nd. Argus downgraded shares of Valero Energy from a buy rating to a hold rating in a research note on Thursday, May 16th. Finally, StockNews.com raised shares of Valero Energy from a hold rating to a buy rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $171.47.

Valero Energy Trading Up 0.3 %

NYSE:VLO opened at $158.50 on Tuesday. Valero Energy has a 52 week low of $112.16 and a 52 week high of $184.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.59. The firm’s fifty day moving average is $156.83 and its 200-day moving average is $150.94. The firm has a market cap of $51.83 billion, a P/E ratio of 7.85, a P/E/G ratio of 1.64 and a beta of 1.42.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, April 25th. The oil and gas company reported $3.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.64. Valero Energy had a net margin of 5.01% and a return on equity of 24.82%. The business had revenue of $31.76 billion for the quarter, compared to analyst estimates of $32.02 billion. During the same quarter in the previous year, the business earned $8.27 earnings per share. Valero Energy’s revenue for the quarter was down 12.8% on a year-over-year basis. Equities analysts expect that Valero Energy will post 16.09 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, May 30th were issued a $1.07 dividend. The ex-dividend date was Thursday, May 30th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.70%. Valero Energy’s dividend payout ratio is presently 21.20%.

Insider Activity at Valero Energy

In other Valero Energy news, Director Kimberly S. Greene sold 720 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $158.12, for a total transaction of $113,846.40. Following the transaction, the director now directly owns 13,314 shares in the company, valued at approximately $2,105,209.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by insiders.

Institutional Investors Weigh In On Valero Energy

A number of institutional investors have recently added to or reduced their stakes in VLO. Norges Bank purchased a new stake in shares of Valero Energy during the 4th quarter worth approximately $570,428,000. International Assets Investment Management LLC raised its stake in shares of Valero Energy by 12,883.3% in the fourth quarter. International Assets Investment Management LLC now owns 1,047,360 shares of the oil and gas company’s stock valued at $136,157,000 after buying an additional 1,039,293 shares during the period. Morgan Stanley lifted its position in shares of Valero Energy by 6.1% during the 3rd quarter. Morgan Stanley now owns 8,961,603 shares of the oil and gas company’s stock valued at $1,269,949,000 after buying an additional 517,068 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Valero Energy by 37.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,558,750 shares of the oil and gas company’s stock worth $266,040,000 after acquiring an additional 426,093 shares during the period. Finally, Montrusco Bolton Investments Inc. increased its holdings in Valero Energy by 18.7% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 2,389,654 shares of the oil and gas company’s stock worth $310,655,000 after acquiring an additional 376,449 shares during the last quarter. 78.69% of the stock is owned by institutional investors.

Valero Energy Company Profile

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.