Royal Bank of Canada Reiterates “$99.00” Price Target for Valero Energy (NYSE:VLO)

Royal Bank of Canada set a $99.00 price objective on Valero Energy (NYSE:VLO) in a report released on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the oil and gas company’s stock.

A number of other brokerages also recently weighed in on VLO. JPMorgan Chase & Co. cut their price target on shares of Valero Energy from $96.00 to $83.00 and set an overweight rating for the company in a report on Tuesday, September 10th. Morgan Stanley upped their price target on shares of Valero Energy from $105.00 to $110.00 and gave the company an overweight rating in a report on Tuesday, October 22nd. ValuEngine raised shares of Valero Energy from a sell rating to a hold rating in a report on Friday, September 27th. Finally, Wells Fargo & Co upped their price target on shares of Valero Energy from $107.00 to $108.00 and gave the company an outperform rating in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $104.75.

Shares of NYSE VLO opened at $100.07 on Friday. Valero Energy has a twelve month low of $68.81 and a twelve month high of $100.82. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $40.16 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 2.70 and a beta of 1.48. The firm has a 50-day moving average of $86.96 and a two-hundred day moving average of $82.63.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.13. Valero Energy had a net margin of 2.12% and a return on equity of 10.31%. The company had revenue of $27.25 billion during the quarter, compared to the consensus estimate of $25.93 billion. During the same period in the prior year, the company earned $2.01 EPS. Valero Energy’s revenue was down 11.7% on a year-over-year basis. As a group, research analysts predict that Valero Energy will post 4.53 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Janney Capital Management LLC acquired a new stake in Valero Energy during the 3rd quarter worth about $556,000. Arrow Financial Corp raised its holdings in Valero Energy by 4.3% during the 3rd quarter. Arrow Financial Corp now owns 16,739 shares of the oil and gas company’s stock worth $1,427,000 after buying an additional 689 shares during the period. Hartford Investment Management Co. raised its holdings in Valero Energy by 3.9% during the 3rd quarter. Hartford Investment Management Co. now owns 71,523 shares of the oil and gas company’s stock worth $6,097,000 after buying an additional 2,676 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Valero Energy by 0.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 46,525 shares of the oil and gas company’s stock worth $3,983,000 after buying an additional 287 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in Valero Energy by 7.6% during the 3rd quarter. Teacher Retirement System of Texas now owns 167,229 shares of the oil and gas company’s stock worth $14,255,000 after buying an additional 11,801 shares during the period. Hedge funds and other institutional investors own 76.26% of the company’s stock.

About Valero Energy

Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities.

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Analyst Recommendations for Valero Energy (NYSE:VLO)

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