Credit Suisse Downgrades Valero Energy Corporation to Neutral with Price Target $68.00

Brokerage firm Credit Suisse Downgrades its rating on Valero Energy Corporation(NYSE:VLO). In a research note issued to the investors, the brokerage major Lowers the price-target to $68.00 per share. The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Credit Suisse was issued on Apr 11, 2016.

In a different note, On Mar 3, 2016, Bank of America said it Upgrades its rating on Valero Energy Corporation. The shares have been rated ‘Neutral’ by the firm. On Feb 10, 2016, Goldman Sachs said it Downgrades its rating on Valero Energy Corporation. The shares have been rated ‘Buy’ by the firm. On Feb 9, 2016, Deutsche Bank said it Maintains its rating on Valero Energy Corporation. In the research note, the firm Lowers the price-target to $88.00 per share. The shares have been rated ‘Buy’ by the firm. On Jan 26, 2016, Credit Suisse said it Maintains its rating on Valero Energy Corporation. According to the research note, Credit Suisse Lowers the price target to $85 per share from a prior target of $95. The shares have been rated ‘Outperform’ by the firm.

Valero Energy Corporation (VLO) shares turned negative on Fridays trading session with the shares closing down -2.07 points or -3.36% at a volume of 69,87,677. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $61.82. The peak price level was also seen at $61.82 while the days lowest was $59.43. Finally the shares closed at $59.49. The 52-week high of the shares is $73.88 while the 52-week low is $51.68. According to the latest information available, the market cap of the company is $27,984 M.

Valero Energy Corporation(VLO) last announced its earnings results on Jan 28, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $18.78B. Analysts had an estimated revenue of $17.23B. Earnings per share were $1.79. Analysts had estimated an EPS of $1.39.

Several Insider Transactions has been reported to the SEC. On Nov 24, 2015, R. Michael Crownover (EVP) sold 17,104 shares at $72.98 per share price.Also, 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.

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