Wells Fargo & Company Boosts Valero Energy (NYSE:VLO) Price Target to $292.00

Valero Energy (NYSE:VLO) had its target price raised by equities researchers at Wells Fargo & Company from $220.00 to $292.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 20.87% from the company’s previous close.

Other analysts have also issued research reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of Valero Energy in a report on Wednesday, January 21st. Citigroup lifted their price objective on Valero Energy from $190.00 to $212.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Wall Street Zen upgraded Valero Energy from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. UBS Group reissued a “buy” rating on shares of Valero Energy in a report on Tuesday, January 6th. Finally, Scotiabank upgraded shares of Valero Energy to a “strong-buy” rating in a research note on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Valero Energy has an average rating of “Moderate Buy” and a consensus target price of $204.33.

Valero Energy Stock Down 2.2%

VLO opened at $241.57 on Tuesday. The firm’s 50 day simple moving average is $212.90 and its two-hundred day simple moving average is $185.69. The company has a market capitalization of $72.24 billion, a PE ratio of 31.62, a PEG ratio of 0.61 and a beta of 0.62. Valero Energy has a 1-year low of $99.00 and a 1-year high of $258.43. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.36.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, January 29th. The oil and gas company reported $3.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.55. Valero Energy had a net margin of 1.91% and a return on equity of 12.35%. The firm had revenue of $30.37 billion during the quarter, compared to the consensus estimate of $28.20 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, equities analysts forecast that Valero Energy will post 7.92 EPS for the current year.

Insider Activity

In related news, SVP Eric A. Fisher sold 400 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $238.60, for a total transaction of $95,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CYBER HORNET ETFs LLC lifted its holdings in shares of Valero Energy by 5.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 975 shares of the oil and gas company’s stock worth $159,000 after buying an additional 51 shares in the last quarter. Bruce G. Allen Investments LLC grew its stake in Valero Energy by 32.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 206 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 51 shares in the last quarter. Providence Wealth Advisors LLC increased its holdings in Valero Energy by 0.5% in the 4th quarter. Providence Wealth Advisors LLC now owns 9,610 shares of the oil and gas company’s stock valued at $1,564,000 after acquiring an additional 52 shares during the last quarter. HBK Sorce Advisory LLC increased its holdings in Valero Energy by 1.4% in the 4th quarter. HBK Sorce Advisory LLC now owns 3,788 shares of the oil and gas company’s stock valued at $617,000 after acquiring an additional 53 shares during the last quarter. Finally, Prospera Financial Services Inc lifted its stake in Valero Energy by 0.3% in the 4th quarter. Prospera Financial Services Inc now owns 16,268 shares of the oil and gas company’s stock worth $2,651,000 after purchasing an additional 53 shares in the last quarter. 78.69% of the stock is currently 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.