Valero Energy (VLO) Receives a Buy from Raymond James

By Ryan Adsit

In a report issued on March 24, Justin Jenkins from Raymond James maintained a Buy rating on Valero Energy (VLOResearch Report), with a price target of $60.00. The company’s shares closed last Monday at $44.66.

According to, Jenkins is a 2-star analyst with an average return of -1.1% and a 56.5% success rate. Jenkins covers the Basic Materials sector, focusing on stocks such as Dcp Midstream Partners, NGL Energy Partners, and Plains All American.

Currently, the analyst consensus on Valero Energy is a Strong Buy with an average price target of $83.33, implying a 103.5% upside from current levels. In a report issued on March 12, Piper Sandler also upgraded the stock to Buy with a $97.00 price target.

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Based on Valero Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $27.88 billion and net profit of $1.06 billion. In comparison, last year the company earned revenue of $28.73 billion and had a net profit of $952 million.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VLO in relation to earlier this year.

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Valero Energy Corp. engages in the manufacture and marketing of transportation fuels and other petrochemical products. It operates through the following business segments: Refining, Ethanol and Renewable Diesel. The Refining segment comprises of refining operations, associated marketing activities, and logistics assets that support its refining operations. The Ethanol segment includes its ethanol operations, associated marketing activities, and logistics assets that support its ethanol operations. The Renewable Diesel covers the operations of Diamond Green Diesel Holdings LLC. The company was founded on January 1, 1980 and is headquartered in San Antonio, TX.