Valero Energy Rating Reiterated by Oppenheimer (VLO)
Valero Energy (NYSE:VLO)‘s stock had its “outperform” rating reiterated by Oppenheimer in a research note issued on Thursday. They currently have a $65.00 target price on the stock, down from their previous target price of $70.00. Oppenheimer’s price target indicates a potential upside of 26.80% from the company’s current price.
Valero Energy (NYSE:VLO) opened at 51.26 on Thursday. Valero Energy has a 1-year low of $33.20 and a 1-year high of $59.69. The stock has a 50-day moving average of $50.95 and a 200-day moving average of $52.69. The company has a market cap of $27.354 billion and a price-to-earnings ratio of 8.88.
Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.22 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.65 by $0.43. The company had revenue of $34.90 billion for the quarter, compared to the consensus estimate of $32.16 billion. During the same quarter last year, the company posted $0.90 earnings per share. Valero Energy’s revenue was up 2.6% compared to the same quarter last year. Analysts expect that Valero Energy will post $5.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Monday, August 18th. This is a boost from Valero Energy’s previous quarterly dividend of $0.25.
VLO has been the subject of a number of other recent research reports. Analysts at Credit Suisse raised their price target on shares of Valero Energy from $55.00 to $60.00 in a research note on Friday, August 1st. Separately, analysts at Macquarie cut their price target on shares of Valero Energy from $69.00 to $62.00 in a research note on Friday, July 11th. Finally, analysts at Zacks downgraded shares of Valero Energy from an “outperform” rating to a “neutral” rating in a research note on Thursday, June 26th. They now have a $54.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $57.57.
Valero Energy Corporation (NYSE:VLO) is an independent petroleum refining and marketing company.
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