Valero Energy (NYSE:VLO) had its target price cut by investment analysts at Deutsche Bank from $98.00 to $95.00 in a note issued to investors on Monday. The firm presently has a “hold” rating on the oil and gas company’s stock. Deutsche Bank’s price objective suggests a potential upside of 2.69% from the company’s previous close.
Several other research analysts have also issued reports on the stock. ValuEngine upgraded shares of Valero Energy from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Credit Suisse Group initiated coverage on shares of Valero Energy in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $91.00 price target for the company. Scotiabank reiterated a “buy” rating and issued a $93.00 price target on shares of Valero Energy in a research note on Friday, December 22nd. Bank of America increased their price target on shares of Valero Energy from $102.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Finally, Citigroup upgraded shares of Valero Energy from a “neutral” rating to a “buy” rating and set a $114.00 price target for the company in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. Valero Energy has a consensus rating of “Hold” and an average target price of $93.65.
Valero Energy stock traded down $1.28 during trading hours on Monday, reaching $92.51. 1,084,636 shares of the company were exchanged, compared to its average volume of 3,404,551. Valero Energy has a 52 week low of $60.69 and a 52 week high of $99.95. The company has a quick ratio of 1.17, a current ratio of 1.74 and a debt-to-equity ratio of 0.38. The company has a market cap of $40,627.58, a price-to-earnings ratio of 10.01, a P/E/G ratio of 1.06 and a beta of 1.03.
Valero Energy announced that its Board of Directors has approved a stock buyback plan on Tuesday, January 23rd that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the oil and gas company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
In related news, CFO Michael S. Ciskowski sold 45,657 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $88.91, for a total transaction of $4,059,363.87. Following the sale, the chief financial officer now directly owns 57,589 shares of the company’s stock, valued at approximately $5,120,237.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael S. Ciskowski sold 251,530 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $93.29, for a total transaction of $23,465,233.70. Following the sale, the chief financial officer now directly owns 309,119 shares in the company, valued at $28,837,711.51. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of 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 valued at $1,096,715,000 after acquiring an additional 658,940 shares during the last quarter. Geode Capital Management LLC raised its stake in Valero Energy by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 4,853,651 shares of the oil and gas company’s stock worth $445,213,000 after acquiring an additional 72,930 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Valero Energy by 0.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 3,538,559 shares of the oil and gas company’s stock worth $272,222,000 after acquiring an additional 25,498 shares during the period. Amundi Pioneer Asset Management Inc. bought a new stake in Valero Energy during the 4th quarter worth approximately $302,721,000. Finally, Prudential Financial Inc. raised its stake in Valero Energy by 14.5% during the 3rd quarter. Prudential Financial Inc. now owns 3,251,977 shares of the oil and gas company’s stock worth $250,174,000 after acquiring an additional 411,630 shares during the period. 80.88% of the stock is currently owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION WARNING: This piece of content was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of international copyright laws. The legal version of this piece of content can be accessed at https://stocknewstimes.com/2018/03/19/deutsche-bank-lowers-valero-energy-vlo-price-target-to-95-00.html.
Valero Energy Company Profile
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.
Receive News & Ratings for Valero Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valero Energy and related companies with MarketBeat.com's FREE daily email newsletter.