Valero Energy Corporation (VLO) Upgraded to Buy at ValuEngine
Valero Energy Corporation (NYSE:VLO) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Friday.
A number of other research firms have also recently issued reports on VLO. US Capital Advisors restated an “overweight” rating on shares of Valero Energy Corporation in a report on Monday, May 22nd. BidaskClub cut shares of Valero Energy Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Jefferies Group LLC cut their price target on shares of Valero Energy Corporation from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, August 23rd. Royal Bank Of Canada restated a “buy” rating and set a $77.00 price target on shares of Valero Energy Corporation in a research note on Thursday. Finally, Piper Jaffray Companies restated a “neutral” rating on shares of Valero Energy Corporation in a research note on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. Valero Energy Corporation has an average rating of “Buy” and an average price target of $72.56.
Shares of Valero Energy Corporation (NYSE:VLO) traded up 1.62% on Friday, reaching $69.20. The company had a trading volume of 3,954,362 shares. The stock has a market capitalization of $30.56 billion, a PE ratio of 17.08 and a beta of 1.21. The company has a 50 day moving average price of $67.37 and a 200 day moving average price of $66.17. Valero Energy Corporation has a 52-week low of $51.17 and a 52-week high of $71.40.
Valero Energy Corporation (NYSE:VLO) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $1.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.15. The firm had revenue of $22.25 billion for the quarter, compared to the consensus estimate of $19.32 billion. Valero Energy Corporation had a net margin of 2.17% and a return on equity of 8.59%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.07 earnings per share. On average, equities research analysts anticipate that Valero Energy Corporation will post $4.04 earnings per share for the current year.
In other news, Director Susan Kaufman Purcell sold 5,151 shares of the stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $64.68, for a total transaction of $333,166.68. Following the completion of the sale, the director now directly owns 9,866 shares in the company, valued at $638,132.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.45% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Intl Fcstone Inc. acquired a new position in Valero Energy Corporation during the second quarter worth $1,215,000. Navellier & Associates Inc purchased a new position in Valero Energy Corporation during the second quarter worth $422,000. Sentry Investment Management LLC raised its position in Valero Energy Corporation by 4.4% in the second quarter. Sentry Investment Management LLC now owns 35,564 shares of the oil and gas company’s stock worth $2,399,000 after buying an additional 1,483 shares during the last quarter. Toronto Dominion Bank raised its position in Valero Energy Corporation by 15.5% in the second quarter. Toronto Dominion Bank now owns 158,552 shares of the oil and gas company’s stock worth $10,695,000 after buying an additional 21,286 shares during the last quarter. Finally, Oak Associates Ltd. OH raised its position in Valero Energy Corporation by 17.2% in the second quarter. Oak Associates Ltd. OH now owns 106,720 shares of the oil and gas company’s stock worth $7,199,000 after buying an additional 15,650 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.
Valero Energy Corporation Company Profile
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.
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