Equities researchers at Raymond James raised their price objective on shares of Valero Energy Corp. (NYSE:VLO) from $42.00 to $46.00 in a research report issued on Wednesday, ARN reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ target price suggests a potential upside of 11.08% from the company’s current price.
Shares of Valero Energy Corp. (NYSE:VLO) traded up 2.98% during mid-day trading on Wednesday, hitting $41.41. The stock had a trading volume of 11,220,086 shares. Valero Energy Corp. has a one year low of $25.4936 and a one year high of $44.7623. The stock’s 50-day moving average is $35.98 and its 200-day moving average is $37.66. The company has a market cap of $22.450 billion and a price-to-earnings ratio of 7.94.
Valero Energy Corp. (NYSE:VLO) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. The company had revenue of $36.14 billion for the quarter, compared to the consensus estimate of $29.76 billion. During the same quarter in the previous year, the company posted $1.91 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, analysts predict that Valero Energy Corp. will post $3.16 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Macquarie raised their price target on shares of Valero Energy Corp. from $35.00 to $41.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Valero Energy Corp. to $40.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Finally, analysts at UBS AG raised their price target on shares of Valero Energy Corp. from $39.00 to $45.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $44.92.
Valero Energy Corporation (NYSE:VLO) is an independent petroleum refining and marketing company.
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