Morgan Stanley Increases Valero Energy (NYSE:VLO) Price Target to $180.00

Valero Energy (NYSE:VLO) had its target price upped by equities researchers at Morgan Stanley from $175.00 to $180.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Morgan Stanley’s target price points to a potential downside of 2.39% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Barclays increased their price target on Valero Energy from $169.00 to $184.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Piper Sandler dropped their target price on shares of Valero Energy from $223.00 to $217.00 and set an “overweight” rating on the stock in a report on Thursday, January 8th. JPMorgan Chase & Co. increased their price objective on shares of Valero Energy from $197.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Wall Street Zen lowered shares of Valero Energy from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Finally, Jefferies Financial Group lifted their price target on Valero Energy from $181.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $183.33.

Valero Energy Trading Up 0.8%

VLO opened at $184.41 on Tuesday. The firm’s fifty day moving average is $174.85 and its two-hundred day moving average is $163.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.09 and a current ratio of 1.60. The firm has a market cap of $56.25 billion, a PE ratio of 38.50, a price-to-earnings-growth ratio of 1.08 and a beta of 0.77. Valero Energy has a twelve month low of $99.00 and a twelve month high of $194.35.

Insider Activity

In other news, CFO Jason W. Fraser sold 9,933 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $174.02, for a total value of $1,728,540.66. Following the completion of the sale, the chief financial officer owned 134,196 shares of the company’s stock, valued at approximately $23,352,787.92. This represents a 6.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Valero Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in VLO. Consolidated Planning Corp bought a new position in Valero Energy in the second quarter valued at about $339,000. Nisa Investment Advisors LLC raised its holdings in Valero Energy by 17.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 160,794 shares of the oil and gas company’s stock valued at $27,377,000 after buying an additional 23,859 shares during the last quarter. Federated Hermes Inc. boosted its position in Valero Energy by 15.7% during the 2nd quarter. Federated Hermes Inc. now owns 161,957 shares of the oil and gas company’s stock worth $21,770,000 after buying an additional 21,997 shares during the period. Cerity Partners LLC boosted its position in Valero Energy by 9.0% during the 3rd quarter. Cerity Partners LLC now owns 104,859 shares of the oil and gas company’s stock worth $17,853,000 after buying an additional 8,638 shares during the period. Finally, Tema Etfs LLC bought a new stake in Valero Energy during the 3rd quarter worth approximately $1,669,000. 78.69% of the stock is owned by institutional investors.

About Valero Energy

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.