Valero Energy Corporation (VLO) Lifted to “Outperform” at Evercore ISI

Valero Energy Corporation (NYSE:VLO) was upgraded by analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a note issued to investors on Thursday.

VLO has been the topic of a number of other research reports. Cowen and Company lifted their price target on shares of Valero Energy Corporation from $70.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, September 28th. J P Morgan Chase & Co lowered shares of Valero Energy Corporation from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $75.00 to $78.00 in a research report on Friday, October 6th. Barclays PLC reissued an “overweight” rating and issued a $86.00 price target (up previously from $85.00) on shares of Valero Energy Corporation in a research report on Tuesday, October 10th. UBS AG reissued a “neutral” rating and issued a $80.00 price target (up previously from $69.00) on shares of Valero Energy Corporation in a research report on Wednesday, September 27th. Finally, Scotiabank set a $70.00 price target on shares of Valero Energy Corporation and gave the company a “buy” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the stock. Valero Energy Corporation presently has a consensus rating of “Hold” and an average target price of $77.19.

Valero Energy Corporation (NYSE:VLO) last released its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.91 EPS for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.08. Valero Energy Corporation had a net margin of 2.33% and a return on equity of 9.93%. The company had revenue of $23.56 billion for the quarter, compared to analyst estimates of $19.42 billion. During the same quarter last year, the firm posted $1.24 earnings per share. The company’s quarterly revenue was up 19.9% compared to the same quarter last year.

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In other news, Director Stephen M. Waters sold 1,500 shares of the business’s 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael S. Ciskowski sold 53,012 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $72.88, for a total transaction of $3,863,514.56. Following the completion of the sale, the chief financial officer now owns 67,413 shares in the company, valued at approximately $4,913,059.44. The disclosure for this sale can be found here. Insiders sold a total of 56,768 shares of company stock worth $4,141,471 in the last three months. Insiders own 0.45% of the company’s stock.

Several large investors have recently modified their holdings of the company. Cullen Frost Bankers Inc. boosted its stake in shares of Valero Energy Corporation by 3.7% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 278,858 shares of the oil and gas company’s stock valued at $21,452,000 after purchasing an additional 9,999 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Valero Energy Corporation by 104.4% in the 3rd quarter. American Century Companies Inc. now owns 477,004 shares of the oil and gas company’s stock valued at $36,696,000 after purchasing an additional 243,656 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in shares of Valero Energy Corporation by 8.1% in the 3rd quarter. State of Wisconsin Investment Board now owns 476,571 shares of the oil and gas company’s stock valued at $36,663,000 after purchasing an additional 35,895 shares in the last quarter. Stevens Capital Management LP acquired a new stake in shares of Valero Energy Corporation in the 3rd quarter valued at $11,992,000. Finally, Chicago Equity Partners LLC boosted its stake in shares of Valero Energy Corporation by 658.9% in the 3rd quarter. Chicago Equity Partners LLC now owns 71,075 shares of the oil and gas company’s stock valued at $5,468,000 after purchasing an additional 61,710 shares in the last quarter. Institutional investors own 80.63% 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.

Analyst Recommendations for Valero Energy Corporation (NYSE:VLO)

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