Valero Energy Corporation (VLO) Lowered to “Neutral” at J P Morgan Chase & Co
Valero Energy Corporation (NYSE:VLO) was downgraded by equities research analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat reports. They currently have a $78.00 price target on the oil and gas company’s stock, up from their prior price target of $75.00. J P Morgan Chase & Co’s price target would suggest a potential upside of 0.94% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. US Capital Advisors cut Valero Energy Corporation from an “overweight” rating to a “hold” rating in a report on Thursday, August 17th. BidaskClub upgraded Valero Energy Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Citigroup Inc. lowered their price objective on Valero Energy Corporation from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, July 17th. Jefferies Group LLC raised Valero Energy Corporation from a “hold” rating to a “buy” rating and raised their price objective for the company from $65.00 to $80.00 in a research note on Thursday, June 22nd. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $73.00 price objective (up from $65.00) on shares of Valero Energy Corporation in a research note on Wednesday, September 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Valero Energy Corporation presently has an average rating of “Buy” and an average price target of $74.61.
Shares of Valero Energy Corporation (NYSE VLO) traded down 0.395% during mid-day trading on Friday, hitting $76.965. The stock had a trading volume of 2,775,737 shares. The company has a market cap of $33.99 billion, a PE ratio of 18.999 and a beta of 1.22. The stock’s 50-day moving average is $70.96 and its 200 day moving average is $67.16. Valero Energy Corporation has a 12 month low of $52.64 and a 12 month high of $78.64.
Valero Energy Corporation (NYSE:VLO) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.15. The business had revenue of $22.25 billion during the quarter, compared to analysts’ expectations of $19.32 billion. Valero Energy Corporation had a return on equity of 8.59% and a net margin of 2.17%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. On average, equities research analysts forecast that Valero Energy Corporation will post $4.44 earnings per share for the current fiscal year.
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In other news, CFO Michael S. Ciskowski sold 53,012 shares of Valero Energy Corporation stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $72.88, for a total value of $3,863,514.56. Following the transaction, the chief financial officer now directly owns 67,413 shares in the company, valued at approximately $4,913,059.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen M. Waters sold 1,500 shares of Valero Energy Corporation stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $68.00, for a total value of $102,000.00. The disclosure for this sale can be found here. Insiders sold a total of 55,168 shares of company stock worth $4,015,279 over the last quarter. Company insiders own 0.45% of the company’s stock.
Several large investors have recently made changes to their positions in VLO. BlackRock Inc. grew its stake in Valero Energy Corporation by 2,578.1% during the 1st quarter. BlackRock Inc. now owns 38,217,393 shares of the oil and gas company’s stock worth $2,533,433,000 after buying an additional 36,790,343 shares during the last quarter. FMR LLC grew its stake in Valero Energy Corporation by 146.1% during the 2nd quarter. FMR LLC now owns 2,224,590 shares of the oil and gas company’s stock worth $150,071,000 after buying an additional 1,320,524 shares during the last quarter. Harbour Capital Advisors LLC grew its stake in Valero Energy Corporation by 6,236.6% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,226,760 shares of the oil and gas company’s stock worth $18,185,000 after buying an additional 1,207,400 shares during the last quarter. Janus Henderson Group PLC grew its stake in Valero Energy Corporation by 1,780.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,127,141 shares of the oil and gas company’s stock worth $76,039,000 after buying an additional 1,067,201 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in Valero Energy Corporation by 88.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,138,646 shares of the oil and gas company’s stock worth $144,273,000 after buying an additional 1,005,206 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company’s stock.
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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