Valero Energy Corp. Price Target Cut to $45.00 by Analysts at Morgan Stanley (VLO)
Analysts at Morgan Stanley cut their price objective on shares of Valero Energy Corp. (NYSE:VLO) from $50.00 to $45.00 in a research report issued to clients and investors on Tuesday, AR Network reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 32.98% from the stock’s previous close.
VLO has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Valero Energy Corp. (NYSE:VLO) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, September 17th. They now have a $36.00 price target on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Valero Energy Corp. (NYSE:VLO) from $36.00 to $40.00 in a research note to investors on Tuesday, September 10th. They now have a “neutral” rating on the stock. Finally, analysts at Oppenheimer reiterated a “buy” rating on shares of Valero Energy Corp. (NYSE:VLO) in a research note to investors on Monday, September 9th. They now have a $42.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Valero Energy Corp. currently has an average rating of “Hold” and a consensus price target of $44.63.
Valero Energy Corp. (NYSE:VLO) traded down 0.91% on Tuesday, hitting $33.84. The stock had a trading volume of 4,927,424 shares. Valero Energy Corp. has a 1-year low of $25.4936 and a 1-year high of $44.7623. The stock has a 50-day moving average of $35.49 and a 200-day moving average of $37.01. The company has a market cap of $18.346 billion and a price-to-earnings ratio of 6.74.
Valero Energy Corp. (NYSE:VLO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by $0.04. The company had revenue of $34.03 billion for the quarter, compared to the consensus estimate of $31.78 billion. During the same quarter in the previous year, the company posted $1.50 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts predict that Valero Energy Corp. will post $3.86 earnings per share for the current fiscal year.
Valero Energy Corporation (NYSE:VLO) is an independent petroleum refining and marketing company.
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