On September 22, Valero fell 3.88% in regular trading, trading at $382.15/share, with turnover of $206 million. The decline was triggered by Jefferies downgrading Valero from Buy to Hold, maintaining its price target at $401.

Notably, Jefferies had raised its target price on Valero from $312 to $401 just last month. With shares having surged approximately 143% year-to-date and recently trading near the target level, the downgrade reflects a cautious institutional stance on current valuation. Despite the downgrade, the broader analyst consensus remains overweight with a mean target price of $362 according to FactSet. Other major banks have recently adjusted targets upward, including UBS at $450 (Buy), Piper Sandler at $435 (Overweight), and Morgan Stanley at $411 (Equalweight).

The broader Oil & Gas Refining & Marketing sector also traded lower, with Marathon Petroleum down 2.47%, HF Sinclair down 2.44%, PBF Energy down 2.31%, Phillips 66 down 1.77%, and Delek US down 1.05%, indicating broad-based sector weakness.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)