Wells Fargo Raises Valero Energy (VLO) Price Target to $489

Wells Fargo kept its positive stance on Valero Energy Corporation [NYSE: VLO], reiterating an Overweight rating while lifting its price target from $485.00 to $489.00 on October 23, 2026. The research note arrived on a day when shares closed at $422.86.

VLO Valero Energy Corporation

$426.28 ▲ +161.68% year to date

1M 3M YTD

Daily close · Oct 22, 2026

Wells Fargo's Call on Valero Energy

In its October 23, 2026 note, Wells Fargo kept its Overweight view on the refiner and bumped the target price up by $4.00 from its prior $485.00 level. The adjustment places the target above the stock's recent trading range.

Other Institutional Activity in Valero Energy

Large financial institutions trimmed their positions in Valero Energy during the second quarter of 2026. Franklin Resources, Inc. reduced its holdings by 83,358 shares, ending the period with 6,328,819 shares valued at $2,676,204,309. Ameriprise Financial, Inc. cut its stake by 20.1%, dropping 1,314,837 shares to finish with 5,223,386 shares worth $2,208,760,927.

Valero Energy Corporation Stock Down 2.4%

Valero recently traded around $426.28 as of October 23, 2026, putting the price up about 0.8% from its session close of $422.86. The stock trades 9.1% above its 50-day moving average of $390.88 and sits 52.7% above its 200-day moving average of $279.22. Shares remain 7.6% below their 52-week high of $461.52.

Recent Earnings

Valero reported trailing-twelve-month revenue of $146,578,997,248 alongside earnings of $43.97 per share. The company posted a net profit margin of 8.8% and a year-over-year revenue growth rate of 51.9%. The next earnings report is scheduled for January 28, 2027.

Dividend

Valero pays an annual dividend of $4.80 per share, giving the stock a dividend yield of 1.13%. The company allocates 19.4% of its earnings toward dividend payments through its payout ratio.

Insider Buying and Selling at Valero Energy Corporation

Company insiders executed several sales earlier in the year. Officer Eric A Fisher sold 8,711 shares on March 12, 2026, for a total value of $1,987,772. Fisher later sold 7,500 shares on May 18, 2026, at an average price of $251.61 for $1,887,064. On June 18, 2026, Fisher parted with another 7,500 shares at $236.90 totaling $1,776,781, followed by a sale of 7,500 shares on June 29, 2026, at $268.17 worth $2,011,307.

Analysts Set New Price Targets

Wall Street firms have actively updated views on Valero through October 2026. Citigroup maintained a Neutral rating with a target of $485.00 on October 13, up from $302.00. Wells Fargo kept an Overweight rating on October 14 with a $485.00 target, moving up from $389.00. TD Cowen maintained a Hold rating with a target of $400.00 on October 22, shifting from $375.00. On the same day as Wells Fargo's update, Barclays maintained an Overweight rating and lifted its target from $441.00 to $443.00. Overall, the stock carries a consensus buy recommendation from 19 analyst opinions, with a mean price target of $418.79.

About Valero Energy

Valero Energy Corporation operates as an international manufacturer and marketer of petroleum and low-carbon liquid transportation fuels, alongside petrochemical products. Headquartered in San Antonio, Texas, the company runs operations through Refining, Renewable Diesel, and Ethanol segments across the United States, Canada, the United Kingdom, and international markets.

Bottom Line

Wells Fargo's target increase reflects continued confidence from the firm as shares trade near the upper end of their 52-week range. Investors will watch for upcoming financial results on January 28, 2027, to gauge whether refining margins support current valuations.