TD Cowen Cuts Valero Energy (NYSE:VLO) Price Target to $140.00

Valero Energy (NYSE:VLO) had its price objective trimmed by TD Cowen from $145.00 to $140.00 in a research note published on Friday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

VLO has been the topic of several other research reports. Mizuho dropped their price objective on Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Barclays dropped their price target on Valero Energy from $165.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Wolfe Research assumed coverage on Valero Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $177.00 price objective for the company. Scotiabank lowered their target price on shares of Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Piper Sandler downgraded shares of Valero Energy from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $169.00 to $123.00 in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $154.53.

Valero Energy Price Performance

Shares of NYSE VLO opened at $132.40 on Friday. The stock’s 50-day simple moving average is $138.20 and its 200-day simple moving average is $149.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.04 and a current ratio of 1.48. The firm has a market capitalization of $43.29 billion, a PE ratio of 6.56, a price-to-earnings-growth ratio of 3.53 and a beta of 1.39. Valero Energy has a fifty-two week low of $119.88 and a fifty-two week high of $184.79.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.16. The business had revenue of $32.88 billion during the quarter, compared to the consensus estimate of $31.04 billion. Valero Energy had a net margin of 4.25% and a return on equity of 21.01%. The company’s revenue was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.49 EPS. As a group, equities research analysts forecast that Valero Energy will post 9.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VLO. Wealthcare Advisory Partners LLC lifted its stake in shares of Valero Energy by 18.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 4,745 shares of the oil and gas company’s stock valued at $810,000 after purchasing an additional 737 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Valero Energy by 31.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 106,046 shares of the oil and gas company’s stock worth $18,101,000 after acquiring an additional 25,219 shares in the last quarter. Kathmere Capital Management LLC grew its holdings in shares of Valero Energy by 21.1% in the 1st quarter. Kathmere Capital Management LLC now owns 2,782 shares of the oil and gas company’s stock worth $475,000 after acquiring an additional 484 shares during the period. Independence Bank of Kentucky increased its stake in Valero Energy by 91.9% in the 1st quarter. Independence Bank of Kentucky now owns 2,838 shares of the oil and gas company’s stock valued at $484,000 after purchasing an additional 1,359 shares in the last quarter. Finally, Occidental Asset Management LLC acquired a new position in Valero Energy during the first quarter worth $202,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

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.