Valero Energy Corporation (VLO) is Initiated by Jefferies to Buy, Price Target at $66

Valero Energy Corporation (VLO) was Initiated by Jefferies to “Buy” and the brokerage firm has set the Price Target at $66. Jefferies advised their investors in a research report released on Aug 23, 2016.

Many Wall Street Analysts have commented on Valero Energy Corporation. Shares were Reiterated by Scotia Howard Weil on Jul 27, 2016 to “Sector Outperform” and Lowered the Price Target to $ 60 from a previous price target of $61 .

On the company’s financial health, Valero Energy Corporation reported $1.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.99. The company had revenue of $19584.00 million for the quarter, compared to analysts expectations of $18667.34 million. The company’s revenue was down -22.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.66 EPS.

Valero Energy Corporation closed down -0.24 points or -0.44% at $54.82 with 39,76,627 shares getting traded on Friday. Post opening the session at $54.66, the shares hit an intraday low of $54.35 and an intraday high of $55.19 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Nov 24, 2015, R. Michael Crownover (EVP) sold 17,104 shares at $72.98 per share price. According to the SEC, on Aug 13, 2015, Michael S Ciskowski (EVP and CFO) sold 29,910 shares at $68.14 per share price. On Aug 3, 2015, Stephen M Waters (director) sold 4,000 shares at $65.54 per share price, according to the Form-4 filing with the securities and exchange commission.

Valero Energy Corp (Valero) is an international manufacturer and marketer of transportation fuels other petrochemical products and power. The Company’s refineries can produce conventional gasolines premium gasolines gasoline diesel fuel low-sulfur diesel fuel ultra-low-sulfur diesel fuel CARB diesel fuel other distillates jet fuel asphalt petrochemicals lubricants and other refined products. The Company markets branded and unbranded refined products through approximately 7400 outlets. The Company also owns 11 ethanol plants in the central plains region of the United States that primarily produce ethanol. The Company operates through two segments. The refining segment includes refining operations wholesale marketing product supply and distribution and transportation operations in the United States Canada the United Kingdom Aruba and Ireland. Its ethanol segment primarily includes sale of internally produced ethanol and distillers grains.

Valero Energy Corporation

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