Citigroup Inc. Raises Valero Energy Corp. (VLO) Price Target to $61.00
Valero Energy Corp. (NYSE:VLO) had its price objective increased by equities research analysts at Citigroup Inc. from $58.00 to $61.00 in a research note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the stock. Citigroup Inc.’s price objective suggests a potential upside of 9.99% from the stock’s current price.
Several other equities analysts have also recently issued reports on VLO. Goldman Sachs Group Inc. restated a “top pick” rating on shares of Valero Energy Corp. in a research note on Thursday, June 30th. Zacks Investment Research upgraded shares of Valero Energy Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Wells Fargo & Co. reiterated a “buy” rating on shares of Valero Energy Corp. in a research note on Saturday, July 9th. Credit Suisse Group AG reiterated a “hold” rating and issued a $62.00 price objective on shares of Valero Energy Corp. in a research note on Thursday, July 14th. Finally, Vetr cut shares of Valero Energy Corp. from a “strong-buy” rating to a “buy” rating and set a $57.85 price objective on the stock. in a research note on Tuesday, July 26th. Nine research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Valero Energy Corp. currently has a consensus rating of “Buy” and an average price target of $69.06.
Shares of Valero Energy Corp. (NYSE:VLO) opened at 55.46 on Wednesday. Valero Energy Corp. has a 12 month low of $46.88 and a 12 month high of $73.88. The firm’s 50-day moving average is $54.87 and its 200 day moving average is $54.84. The company has a market capitalization of $25.59 billion, a price-to-earnings ratio of 8.91 and a beta of 1.87.
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Valero Energy Corp. (NYSE:VLO) last posted its earnings results on Tuesday, July 26th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.04. The business had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $16.79 billion. Valero Energy Corp. had a net margin of 3.89% and a return on equity of 14.05%. The business’s revenue for the quarter was down 22.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.66 EPS. Equities analysts expect that Valero Energy Corp. will post $3.33 EPS for the current year.
Large investors have recently modified their holdings of the company. Northcoast Asset Management acquired a new stake in shares of Valero Energy Corp. during the third quarter valued at approximately $40,369,000. Meag Munich Ergo Kapitalanlagegesellschaft boosted its stake in shares of Valero Energy Corp. by 250.0% in the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft now owns 249,616 shares of the company’s stock valued at $14,942,000 after buying an additional 178,298 shares during the period. Gerstein Fisher boosted its stake in shares of Valero Energy Corp. by 19.4% in the third quarter. Gerstein Fisher now owns 11,315 shares of the company’s stock valued at $680,000 after buying an additional 1,840 shares during the period. Eagle Asset Management boosted its stake in shares of Valero Energy Corp. by 83.5% in the third quarter. Eagle Asset Management now owns 147,432 shares of the company’s stock valued at $8,860,000 after buying an additional 67,091 shares during the period. Finally, Janus Capital Management boosted its stake in shares of Valero Energy Corp. by 52.8% in the third quarter. Janus Capital Management now owns 1,237,102 shares of the company’s stock valued at $74,350,000 after buying an additional 427,217 shares during the period. 78.53% of the stock is currently owned by hedge funds and other institutional investors.
About Valero Energy Corp.
Valero Energy Corporation (Valero), through Valero Energy Partners LP (VLP), owns, operates, develops and acquires crude oil and refined petroleum products pipelines, terminals, and other transportation and logistics assets. The Company operates in two segments: refining and ethanol. Its refining segment includes refining and marketing operations in the United States, Canada, the United Kingdom, Aruba and Ireland.
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