Scotiabank Cuts Valero Energy (NYSE:VLO) Price Target to $141.00

Valero Energy (NYSE:VLO) had its price objective trimmed by Scotiabank from $173.00 to $141.00 in a report released on Thursday, Benzinga reports. The firm currently has a sector outperform rating on the oil and gas company’s stock.

A number of other equities research analysts also recently weighed in on VLO. The Goldman Sachs Group dropped their price target on shares of Valero Energy from $149.00 to $131.00 and set a sell rating for the company in a research report on Monday, September 16th. Wolfe Research began coverage on shares of Valero Energy in a research report on Thursday, July 18th. They set an outperform rating and a $177.00 price objective for the company. Mizuho lowered their price objective on shares of Valero Energy from $175.00 to $171.00 and set an outperform rating for the company in a research report on Monday, September 16th. StockNews.com downgraded shares of Valero Energy from a buy rating to a hold rating in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Valero Energy from $172.00 to $151.00 and set an overweight rating for the company in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Valero Energy presently has a consensus rating of Moderate Buy and an average target price of $162.60.

Valero Energy Price Performance

Shares of NYSE VLO opened at $142.07 on Thursday. The firm has a market cap of $45.52 billion, a PE ratio of 8.15, a PEG ratio of 3.63 and a beta of 1.39. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 0.34. Valero Energy has a 1-year low of $119.88 and a 1-year high of $184.79. The company has a fifty day moving average price of $141.14 and a 200 day moving average price of $153.08.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $2.71 EPS for the quarter, topping 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 business had revenue of $34.49 billion during the quarter, compared to analysts’ expectations of $32.97 billion. During the same quarter last year, the company posted $5.40 earnings per share. Valero Energy’s quarterly revenue was down .1% on a year-over-year basis. Research analysts predict that Valero Energy will post 9.61 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 1st were paid a $1.07 dividend. The ex-dividend date was Thursday, August 1st. This represents a $4.28 annualized dividend and a dividend yield of 3.01%. Valero Energy’s dividend payout ratio is 24.46%.

Institutional Trading of Valero Energy

Several institutional investors have recently modified their holdings of VLO. Acadian Asset Management LLC grew its stake in shares of Valero Energy by 37.6% in the first quarter. Acadian Asset Management LLC now owns 1,558,750 shares of the oil and gas company’s stock worth $266,040,000 after purchasing an additional 426,093 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Valero Energy by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,319,436 shares of the oil and gas company’s stock worth $677,007,000 after acquiring an additional 237,347 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Valero Energy by 17.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,550,010 shares of the oil and gas company’s stock valued at $238,841,000 after purchasing an additional 232,494 shares during the period. Westwood Holdings Group Inc. acquired a new position in shares of Valero Energy in the 1st quarter valued at about $39,517,000. Finally, Hsbc Holdings PLC boosted its position in shares of Valero Energy by 20.5% during the 2nd quarter. Hsbc Holdings PLC now owns 1,145,117 shares of the oil and gas company’s stock valued at $179,490,000 after purchasing an additional 194,974 shares in the last quarter. Institutional investors own 78.69% of the company’s stock.

Valero Energy Company Profile

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.