Valero Energy Stock Rating Reaffirmed by JPMorgan Chase & Co. (VLO)
Valero Energy (NYSE:VLO)‘s stock had its “overweight” rating restated by equities research analysts at JPMorgan Chase & Co. in a research note issued to investors on Wednesday. They currently have a $52.00 price target on the stock, up from their previous price target of $44.00. JPMorgan Chase & Co.’s price objective points to a potential downside of 6.14% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated an “outperform” rating on shares of Valero Energy in a research note on Thursday, May 29th. They now have a $67.00 price target on the stock. Separately, analysts at BofA Merrill Lynch downgraded shares of Valero Energy from a “buy” rating to a “neutral” rating in a research note on Saturday, May 17th. They now have a $63.00 price target on the stock. Finally, analysts at BofA Merrill Lynch downgraded shares of Valero Energy from a “buy” rating to a “neutral” rating in a research note on Friday, May 9th. They now have a $63.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $59.80.
Shares of Valero Energy (NYSE:VLO) traded down 1.37% on Wednesday, hitting $54.64. 3,066,137 shares of the company’s stock traded hands. Valero Energy has a 52-week low of $33.00 and a 52-week high of $59.69. The stock has a 50-day moving average of $56.19 and a 200-day moving average of $51.49. The company has a market cap of $29.157 billion and a price-to-earnings ratio of 10.40.
Valero Energy (NYSE:VLO) last announced its earnings results on Tuesday, April 29th. The company reported $1.54 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.41 by $0.13. The company had revenue of $33.66 billion for the quarter, compared to the consensus estimate of $32.24 billion. During the same quarter last year, the company posted $1.18 earnings per share. Valero Energy’s revenue was up .6% compared to the same quarter last year. On average, analysts predict that Valero Energy will post $6.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Monday, May 19th.
Valero Energy Corporation (NYSE:VLO) is an independent petroleum refining and marketing company.
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