Credit Suisse Initiates Coverage on Valero Energy Corp. (VLO)
Analysts at Credit Suisse began coverage on shares of Valero Energy Corp. (NYSE:VLO) in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $45.00 price target on the stock. Credit Suisse’s target price would suggest a potential downside of 2.43% from the stock’s previous close.
A number of other firms have also recently commented on VLO. Analysts at JPMorgan Chase & Co. upgraded shares of Valero Energy Corp. from an “underweight” rating to a “neutral” rating in a research note to investors on Monday. They now have a $44.00 price target on the stock, up previously from $34.00. Separately, analysts at Deutsche Bank upgraded shares of Valero Energy Corp. from a “hold” rating to a “buy” rating in a research note to investors on Monday. They now have a $55.00 price target on the stock, up previously from $42.00. Finally, analysts at Macquarie upgraded shares of Valero Energy Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, December 5th. They now have a $65.00 price target on the stock, up previously from $41.00. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Valero Energy Corp. currently has an average rating of “Buy” and an average price target of $47.33.
Shares of Valero Energy Corp. (NYSE:VLO) traded up 0.54% on Friday, hitting $46.13. 6,351,015 shares of the company’s stock traded hands. Valero Energy Corp. has a 1-year low of $29.808 and a 1-year high of $47.98. The stock has a 50-day moving average of $42.94 and a 200-day moving average of $37.81. The company has a market cap of $24.890 billion and a P/E ratio of 10.34.
Valero Energy Corp. (NYSE:VLO) last announced its earnings results on Tuesday, October 29th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.41 by $0.03. The company had revenue of $36.14 billion for the quarter, compared to the consensus estimate of $29.76 billion. During the same quarter last year, the company posted $1.91 earnings per share. Valero Energy Corp.’s revenue was up 4.1% compared to the same quarter last year. Analysts expect that Valero Energy Corp. will post $3.28 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a dividend of 0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Monday, November 25th.
Valero Energy Corporation (NYSE:VLO) is an independent petroleum refining and marketing company.
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