RBC Capital Believes Valero Energy Corp (NYSE: VLO) Won’t Stop Here

By Jason Carr

RBC Capital analyst Brad Heffern reiterated a Buy rating on Valero Energy Corp (NYSE: VLO) today and set a price target of $77. The company’s shares closed yesterday at $68.41, close to its 52-week high of $71.40.

According to TipRanks.com, Heffern is a 5-star analyst with an average return of 14.5% and a 76.0% success rate. Heffern covers the Basic Materials sector, focusing on stocks such as Approach Resources Inc, Continental Resources, and Gulfport Energy Corp.

Currently, the analyst consensus on Valero Energy Corp is Strong Buy and the average price target is $72.50, representing a 6.0% upside.

In a report issued on August 23, Jefferies also maintained a Buy rating on the stock with a $78 price target.

Valero Energy Corp’s market cap is currently $30.24B and has a P/E ratio of 16.89. The company has a book value ratio of 1.5177.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock.

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Valero Energy Corp. engages in the manufacture and marketing of transportation fuels and other petrochemical products. It operates through the Refining and Ethanol segments. The Refining segment includes refining operations, associated marketing activities, and logistics assets that support its refining operations.