Several other equities research analysts have also commented on VLO. ValuEngine upgraded Valero Energy from a hold rating to a buy rating in a research note on Sunday, December 31st. Credit Suisse Group initiated coverage on Valero Energy in a research note on Wednesday, January 3rd. They set a neutral rating and a $91.00 price objective for the company. Citigroup boosted their price objective on Valero Energy from $76.00 to $96.00 and gave the stock a neutral rating in a research note on Wednesday, January 24th. Bank of America boosted their price objective on Valero Energy from $102.00 to $105.00 and gave the stock a buy rating in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada reiterated a buy rating and set a $110.00 price objective on shares of Valero Energy in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. Valero Energy presently has an average rating of Hold and a consensus price target of $96.82.
NYSE VLO opened at $108.29 on Tuesday. The stock has a market capitalization of $47,021.25, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 1.15 and a beta of 1.01. Valero Energy has a twelve month low of $60.69 and a twelve month high of $110.95. The company has a quick ratio of 1.17, a current ratio of 1.74 and a debt-to-equity ratio of 0.38.
Valero Energy declared that its board has approved a share repurchase plan on Tuesday, January 23rd that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in VLO. Prudential Financial Inc. lifted its holdings in Valero Energy by 14.5% in the third quarter. Prudential Financial Inc. now owns 3,251,977 shares of the oil and gas company’s stock valued at $250,174,000 after acquiring an additional 411,630 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services lifted its stake in Valero Energy by 5.6% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 49,075 shares of the oil and gas company’s stock worth $4,510,000 after purchasing an additional 2,585 shares in the last quarter. Atalanta Sosnoff Capital LLC acquired a new position in Valero Energy during the fourth quarter worth $368,000. DnB Asset Management AS lifted its stake in Valero Energy by 5.8% during the fourth quarter. DnB Asset Management AS now owns 54,827 shares of the oil and gas company’s stock worth $5,039,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Chesley Taft & Associates LLC acquired a new position in Valero Energy during the fourth quarter worth $655,000. Hedge funds and other institutional investors own 80.90% of the company’s stock.
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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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