Valero Energy Corporation (NYSE:VLO) Upgraded to Buy at BidaskClub

Valero Energy Corporation (NYSE:VLO) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday, July 12th.

VLO has been the topic of several other reports. Credit Suisse Group reissued a “hold” rating and set a $65.00 target price on shares of Valero Energy Corporation in a research note on Wednesday, June 21st. Standpoint Research started coverage on shares of Valero Energy Corporation in a research note on Friday, June 30th. They issued an “accumulate” rating and a $84.00 price target on the stock. Scotiabank set a $70.00 price target on shares of Valero Energy Corporation and gave the company a “buy” rating in a research note on Monday, June 26th. ValuEngine raised shares of Valero Energy Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 6th. Finally, Royal Bank Of Canada raised their price target on shares of Valero Energy Corporation from $77.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $71.59.

Shares of Valero Energy Corporation (NYSE:VLO) traded down 0.31% on Wednesday, hitting $67.79. The company had a trading volume of 3,114,863 shares. The firm’s 50 day moving average price is $67.37 and its 200-day moving average price is $66.14. Valero Energy Corporation has a 52 week low of $51.17 and a 52 week high of $71.40. The stock has a market capitalization of $30.32 billion, a PE ratio of 16.75 and a beta of 1.21.

Valero Energy Corporation (NYSE:VLO) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.15. Valero Energy Corporation had a net margin of 2.17% and a return on equity of 8.58%. The business had revenue of $22.25 billion for the quarter, compared to analyst estimates of $19.32 billion. During the same period in the prior year, the company posted $1.07 EPS. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. Analysts forecast that Valero Energy Corporation will post $4.00 earnings per share for the current fiscal year.

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In related news, Director Susan Kaufman Purcell sold 5,151 shares of the stock in a transaction that occurred 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 transaction, the director now owns 9,866 shares of the company’s stock, valued at approximately $638,132.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.45% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Guardian Life Insurance Co. of America boosted its position in shares of Valero Energy Corporation by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,746 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 11 shares in the last quarter. Welch & Forbes LLC boosted its position in shares of Valero Energy Corporation by 0.3% in the first quarter. Welch & Forbes LLC now owns 4,781 shares of the oil and gas company’s stock valued at $317,000 after buying an additional 16 shares in the last quarter. BKD Wealth Advisors LLC boosted its position in shares of Valero Energy Corporation by 0.4% in the second quarter. BKD Wealth Advisors LLC now owns 6,542 shares of the oil and gas company’s stock valued at $441,000 after buying an additional 24 shares in the last quarter. Brown Advisory Securities LLC boosted its position in shares of Valero Energy Corporation by 0.7% in the first quarter. Brown Advisory Securities LLC now owns 3,815 shares of the oil and gas company’s stock valued at $254,000 after buying an additional 25 shares in the last quarter. Finally, Eads & Heald Investment Counsel boosted its position in shares of Valero Energy Corporation by 0.3% in the second quarter. Eads & Heald Investment Counsel now owns 8,420 shares of the oil and gas company’s stock valued at $568,000 after buying an additional 25 shares in the last quarter. 79.25% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Valero Energy Corporation (NYSE:VLO)

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