Valero Energy (NYSE:VLO) had its price objective hoisted by stock analysts at Morgan Stanley from $100.00 to $110.00 in a research note issued on Monday. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Morgan Stanley’s target price points to a potential upside of 5.45% from the company’s current price.
A number of other brokerages have also recently commented on VLO. Scotia Howard Weill reiterated a “sector perform” rating on shares of Valero Energy in a research report on Wednesday, April 11th. Howard Weil cut shares of Valero Energy from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, April 11th. ValuEngine upgraded shares of Valero Energy from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Cowen restated a “buy” rating and issued a $100.00 target price on shares of Valero Energy in a report on Thursday, February 1st. Finally, Royal Bank of Canada restated a “buy” rating and issued a $110.00 target price on shares of Valero Energy in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $95.94.
NYSE VLO traded up $2.48 on Monday, reaching $104.31. 737,454 shares of the company’s stock traded hands, compared to its average volume of 3,372,004. Valero Energy has a 12 month low of $60.69 and a 12 month high of $104.37. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.74 and a quick ratio of 1.17. The stock has a market capitalization of $44,110.31, a P/E ratio of 21.03, a PEG ratio of 1.16 and a beta of 1.01.
Valero Energy announced that its Board of Directors has approved a share repurchase program on Tuesday, January 23rd that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the oil and gas company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
A number of hedge funds have recently made changes to their positions in VLO. Independence Bank of Kentucky purchased a new stake in Valero Energy in the fourth quarter worth $102,000. Parkside Financial Bank & Trust lifted its stake in Valero Energy by 211.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,177 shares of the oil and gas company’s stock worth $108,000 after acquiring an additional 799 shares during the period. SWS Partners purchased a new stake in Valero Energy in the fourth quarter worth $127,000. Harvest Fund Management Co. Ltd purchased a new stake in Valero Energy in the fourth quarter worth $135,000. Finally, Chicago Partners Investment Group LLC lifted its stake in Valero Energy by 300.6% in the third quarter. Chicago Partners Investment Group LLC now owns 1,863 shares of the oil and gas company’s stock worth $143,000 after acquiring an additional 1,398 shares during the period. 80.90% of the stock is owned by institutional investors.
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About Valero Energy
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities. It produces conventional and premium gasolines, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels, CARB diesel, other distillates, jet fuels, asphalts, petrochemicals, lubricants, and other refined petroleum products.
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