Valero Energy (NYSE:VLO)‘s stock had its “neutral” rating reiterated by equities research analysts at JPMorgan Chase & Co. in a research report issued on Tuesday. They presently have a $105.00 target price on the oil and gas company’s stock, up from their prior target price of $99.00. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 13.22% from the company’s current price.
Several other brokerages have also recently issued reports on VLO. Citigroup raised their target price on shares of Valero Energy from $76.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Bank of America raised their target price on shares of Valero Energy from $102.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Piper Jaffray Companies restated a “hold” rating and issued a $98.00 target price on shares of Valero Energy in a report on Monday, January 22nd. Cowen restated a “buy” rating and issued a $100.00 target price on shares of Valero Energy in a report on Thursday, February 1st. Finally, Royal Bank of Canada restated a “buy” rating and issued a $110.00 target price on shares of Valero Energy in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. Valero Energy presently has a consensus rating of “Hold” and a consensus price target of $92.35.
Shares of Valero Energy (VLO) traded down $0.75 during mid-day trading on Tuesday, reaching $92.74. 1,217,000 shares of the company traded hands, compared to its average volume of 3,388,843. Valero Energy has a 52 week low of $60.69 and a 52 week high of $99.95. The company has a quick ratio of 1.17, a current ratio of 1.74 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $40,550.00, a PE ratio of 18.69, a P/E/G ratio of 1.11 and a beta of 1.00.
Valero Energy announced that its Board of Directors has approved a stock buyback plan on Tuesday, January 23rd that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the oil and gas company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, CFO Michael S. Ciskowski sold 45,657 shares of the firm’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $88.91, for a total transaction of $4,059,363.87. Following the sale, the chief financial officer now directly owns 57,589 shares in the company, valued at approximately $5,120,237.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael S. Ciskowski sold 251,530 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $93.29, for a total transaction of $23,465,233.70. Following the sale, the chief financial officer now owns 309,119 shares in the company, valued at $28,837,711.51. The disclosure for this sale can be found here. 0.45% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in Valero Energy by 5.8% during the fourth quarter. Bank of New York Mellon Corp now owns 11,932,482 shares of the oil and gas company’s stock valued at $1,096,715,000 after acquiring an additional 658,940 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Valero Energy by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 4,853,651 shares of the oil and gas company’s stock worth $445,213,000 after buying an additional 72,930 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Valero Energy by 0.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 3,538,559 shares of the oil and gas company’s stock worth $272,222,000 after buying an additional 25,498 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Valero Energy in the 4th quarter worth $302,721,000. Finally, Prudential Financial Inc. grew its stake in shares of Valero Energy by 14.5% in the 3rd quarter. Prudential Financial Inc. now owns 3,251,977 shares of the oil and gas company’s stock worth $250,174,000 after buying an additional 411,630 shares in the last quarter. Hedge funds and other institutional investors own 80.10% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This piece was reported by American Banking News and is owned by of American Banking News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright & trademark laws. The legal version of this piece can be read at https://www.americanbankingnews.com/2018/03/13/valero-energy-vlo-pt-raised-to-105-00-at-jpmorgan-chase-co.html.
About Valero Energy
Valero Energy Corporation (Valero) is an independent petroleum refiner and ethanol producer. The Company’s segments include refining, ethanol and Valero Energy Partners LP (VLP). The refining segment includes its refining operations and the associated marketing activities. The ethanol segment includes its ethanol operations and the associated marketing activities, and logistics assets that support its ethanol operations.
Receive News & Ratings for Valero Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valero Energy and related companies with MarketBeat.com's FREE daily email newsletter.