Valero Energy (NYSE:VLO) had its target price boosted by stock analysts at Bank of America from $102.00 to $105.00 in a research report issued to clients and investors on Wednesday. The firm presently has a “buy” rating on the oil and gas company’s stock. Bank of America’s target price would suggest a potential upside of 6.39% from the stock’s previous close.
VLO has been the subject of several other reports. JPMorgan Chase & Co. cut shares of Valero Energy from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $75.00 to $78.00 in a report on Friday, October 6th. Cowen increased their price target on shares of Valero Energy from $70.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, September 28th. ValuEngine raised shares of Valero Energy from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Barclays increased their price target on shares of Valero Energy from $86.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, November 14th. Finally, Citigroup increased their price target on shares of Valero Energy from $68.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $84.94.
Valero Energy (NYSE:VLO) traded up $1.51 during midday trading on Wednesday, reaching $98.69. 2,071,788 shares of the company traded hands, compared to its average volume of 2,880,000. The stock has a market capitalization of $43,590.00, a PE ratio of 21.41, a P/E/G ratio of 1.24 and a beta of 1.20. Valero Energy has a 52-week low of $60.69 and a 52-week high of $99.95. The company has a quick ratio of 1.24, a current ratio of 1.91 and a debt-to-equity ratio of 0.39.
Valero Energy declared that its Board of Directors has initiated a share buyback plan on Tuesday, January 23rd that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other Valero Energy news, Director Stephen M. Waters sold 1,600 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $78.87, for a total value of $126,192.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael S. Ciskowski sold 251,530 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $93.29, for a total transaction of $23,465,233.70. Following the completion of the transaction, the chief financial officer now directly owns 309,119 shares of the company’s stock, valued at $28,837,711.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 301,287 shares of company stock valued at $27,860,150. 0.45% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Willingdon Wealth Management purchased a new position in shares of Valero Energy during the 3rd quarter worth approximately $100,000. Cable Hill Partners LLC increased its stake in shares of Valero Energy by 1,015.3% during the 3rd quarter. Cable Hill Partners LLC now owns 1,316 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 1,198 shares in the last quarter. San Francisco Sentry Investment Group CA increased its stake in shares of Valero Energy by 2,272.1% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,447 shares of the oil and gas company’s stock worth $112,000 after purchasing an additional 1,386 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Valero Energy during the 4th quarter worth approximately $135,000. Finally, Chicago Partners Investment Group LLC increased its stake in shares of Valero Energy by 300.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,863 shares of the oil and gas company’s stock worth $143,000 after purchasing an additional 1,398 shares in the last quarter. 81.40% of the stock is owned by institutional investors and hedge funds.
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About Valero Energy
Valero Energy Corporation (Valero) is an independent petroleum refiner and ethanol producer. The Company’s segments include refining, ethanol and Valero Energy Partners LP (VLP). The refining segment includes its refining operations and the associated marketing activities. The ethanol segment includes its ethanol operations and the associated marketing activities, and logistics assets that support its ethanol operations.