JPMorgan Chase & Co. Trims Valero Energy (NYSE:VLO) Target Price to $151.00

Valero Energy (NYSE:VLO) had its target price cut by JPMorgan Chase & Co. from $172.00 to $151.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Several other research analysts have also recently issued reports on the stock. Piper Sandler cut shares of Valero Energy from an overweight rating to a neutral rating and reduced their target price for the stock from $169.00 to $123.00 in a report on Friday, September 20th. Wolfe Research assumed coverage on Valero Energy in a research note on Thursday, July 18th. They set an outperform rating and a $177.00 price objective for the company. The Goldman Sachs Group decreased their price objective on Valero Energy from $149.00 to $131.00 and set a sell rating for the company in a report on Monday, September 16th. Barclays dropped their target price on Valero Energy from $171.00 to $165.00 and set an overweight rating on the stock in a report on Tuesday, July 9th. Finally, Mizuho decreased their price target on Valero Energy from $175.00 to $171.00 and set an outperform rating for the company in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, five have issued 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 company has a consensus rating of Moderate Buy and a consensus price target of $165.20.

Valero Energy Stock Performance

Shares of VLO opened at $142.42 on Wednesday. The stock has a 50-day moving average of $142.67 and a two-hundred day moving average of $153.79. 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 stock has a market cap of $46.57 billion, a P/E ratio of 7.05, a P/E/G ratio of 3.35 and a beta of 1.39. Valero Energy has a one year low of $119.88 and a one year high of $184.79.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, July 25th. The oil and gas company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.11. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The firm had revenue of $34.49 billion for the quarter, compared to analyst estimates of $32.97 billion. During the same quarter in the prior year, the firm earned $5.40 earnings per share. Valero Energy’s revenue for the quarter was down .1% on a year-over-year basis. As a group, research analysts predict that Valero Energy will post 10.13 EPS for the current year.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Thursday, August 1st. Valero Energy’s payout ratio is 21.20%.

Institutional Trading of Valero Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. MGO One Seven LLC boosted its holdings in Valero Energy by 198.8% in the 4th quarter. MGO One Seven LLC now owns 16,605 shares of the oil and gas company’s stock worth $2,159,000 after buying an additional 11,047 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Valero Energy in the second quarter worth approximately $15,945,000. CIBC Private Wealth Group LLC increased its position in shares of Valero Energy by 62.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 13,586 shares of the oil and gas company’s stock worth $1,766,000 after purchasing an additional 5,209 shares in the last quarter. 180 Wealth Advisors LLC purchased a new stake in shares of Valero Energy during the second quarter worth approximately $535,000. Finally, UniSuper Management Pty Ltd raised its stake in Valero Energy by 223.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 10,796 shares of the oil and gas company’s stock valued at $1,843,000 after purchasing an additional 7,455 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

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.