Valero Energy (NYSE:VLO)‘s stock had its “sector perform” rating reiterated by Scotia Howard Weill in a research report issued on Wednesday.
A number of other brokerages have also commented on VLO. Howard Weil lowered Valero Energy from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday. ValuEngine upgraded Valero Energy from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Cowen reiterated a “buy” rating and issued a $100.00 price objective on shares of Valero Energy in a research report on Thursday, February 1st. Royal Bank of Canada reiterated a “buy” rating and issued a $110.00 price objective on shares of Valero Energy in a research report on Tuesday, January 30th. Finally, Deutsche Bank decreased their price objective on Valero Energy from $98.00 to $95.00 and set a “hold” rating on the stock in a research report on Monday, March 19th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $93.59.
Shares of VLO opened at $100.53 on Wednesday. The firm has a market capitalization of $42,836.77, a price-to-earnings ratio of 20.27, a PEG ratio of 1.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.74. Valero Energy has a 52 week low of $60.69 and a 52 week high of $101.28.
Valero Energy declared that its board has authorized a share buyback plan on Tuesday, January 23rd that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Several hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in Valero Energy by 5.8% during the 4th quarter. Bank of New York Mellon Corp now owns 11,932,482 shares of the oil and gas company’s stock worth $1,096,715,000 after buying an additional 658,940 shares during the period. Geode Capital Management LLC raised its stake in shares of Valero Energy by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 4,853,651 shares of the oil and gas company’s stock valued at $445,213,000 after purchasing an additional 72,930 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Valero Energy in the 4th quarter valued at about $302,721,000. Prudential Financial Inc. raised its stake in shares of Valero Energy by 14.5% in the 3rd quarter. Prudential Financial Inc. now owns 3,251,977 shares of the oil and gas company’s stock valued at $250,174,000 after purchasing an additional 411,630 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Valero Energy by 17.4% in the 4th quarter. Bank of Montreal Can now owns 3,200,849 shares of the oil and gas company’s stock valued at $294,188,000 after purchasing an additional 475,381 shares during the period. 80.90% of the stock is currently owned by institutional investors.
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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.
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