JP Morgan Maintains Valero Energy Corporation to Overweight with Price Target $59.00

Brokerage firm JP Morgan Maintains its rating on Valero Energy Corporation(NYSE:VLO). In a research note issued to the investors, the brokerage major Lowers the price-target to $59.00 per share. The shares have been rated Overweight. The rating by JP Morgan was issued on Jun 10, 2016.

In a different note, UBS said it Initiates Coverage on Valero Energy Corporation, according to a research note issued on May 19, 2016. The shares have been rated ‘Neutral’ by the firm. On May 16, 2016, Tudor Pickering said it Downgrades its rating on Valero Energy Corporation. The shares have been rated ‘Hold’ by the firm. On May 13, 2016, Erste Group said it Downgrades its rating on Valero Energy Corporation. The shares have been rated ‘Hold’ by the firm. On Apr 8, 2016, Barclays said it Maintains its rating on Valero Energy Corporation. In the research note, the firm Lowers the price-target to $93.00 per share. The shares have been rated ‘Overweight’ by the firm.

Valero Energy Corporation (VLO) made into the market gainers list on Wednesdays trading session with the shares advancing 0.98% or 0.5 points. Due to strong positive momentum, the stock ended at $51.29, which is also near the day’s high of $51.78. The stock began the session at $50.45 and the volume stood at 81,92,099 shares. The 52-week high of the shares is $73.88 and the 52 week low is $50.03. The company has a current market capitalization of $24,096 M and it has 46,98,02,630 shares in outstanding.

Valero Energy Corporation(VLO) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $15.71B. Analysts had an estimated revenue of $14.25B. Earnings per share were $0.60. Analysts had estimated an EPS of $0.80.

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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