Valero Energy (NYSE:VLO) was upgraded by stock analysts at Tudor Pickering from a “hold” rating to a “buy” rating in a research report issued on Friday, MarketBeat Ratings reports.
Other equities research analysts have also issued research reports about the company. Citigroup upgraded Valero Energy from a “neutral” rating to a “buy” rating and set a $114.00 price target on the stock in a research note on Wednesday, February 14th. ValuEngine upgraded Valero Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Cowen restated a “buy” rating and set a $100.00 price target on shares of Valero Energy in a research note on Thursday, February 1st. Royal Bank of Canada restated a “buy” rating and set a $110.00 price target on shares of Valero Energy in a research note on Tuesday, January 30th. Finally, Bank of America boosted their price target on Valero Energy from $102.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $104.18.
Valero Energy opened at $120.56 on Friday, according to MarketBeat Ratings. Valero Energy has a 1 year low of $60.69 and a 1 year high of $121.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.09 and a current ratio of 1.70. The stock has a market capitalization of $51.60 billion, a price-to-earnings ratio of 24.31, a P/E/G ratio of 1.84 and a beta of 1.02.
Valero Energy announced that its board has approved a share buyback program on Tuesday, January 23rd that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the oil and gas company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
Several institutional investors have recently added to or reduced their stakes in the stock. Independence Bank of Kentucky acquired a new position in Valero Energy in the fourth quarter valued at approximately $102,000. KHP Capital LLC acquired a new position in Valero Energy in the first quarter valued at approximately $104,000. Parkside Financial Bank & Trust lifted its holdings in Valero Energy by 211.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,177 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 799 shares during the period. SWS Partners acquired a new position in Valero Energy in the fourth quarter valued at approximately $127,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Valero Energy in the fourth quarter valued at approximately $135,000. 80.68% of the stock is owned by hedge funds and other institutional investors.
About Valero Energy
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities. It produces conventional and premium gasolines, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels, CARB diesel, other distillates, jet fuels, asphalts, petrochemicals, lubricants, and other refined petroleum products.
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