First Merchants Corp Has $2.39 Million Stock Holdings in Valero Energy Co. (NYSE:VLO)

First Merchants Corp reduced its position in Valero Energy Co. (NYSE:VLO) by 13.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 15,241 shares of the oil and gas company’s stock after selling 2,303 shares during the period. First Merchants Corp’s holdings in Valero Energy were worth $2,389,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Collective Family Office LLC boosted its stake in Valero Energy by 1.5% in the first quarter. Collective Family Office LLC now owns 4,040 shares of the oil and gas company’s stock valued at $690,000 after acquiring an additional 58 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Valero Energy by 4.7% in the first quarter. Versant Capital Management Inc now owns 1,327 shares of the oil and gas company’s stock valued at $227,000 after buying an additional 59 shares during the period. Covenant Asset Management LLC grew its stake in shares of Valero Energy by 0.4% during the 1st quarter. Covenant Asset Management LLC now owns 14,659 shares of the oil and gas company’s stock worth $2,502,000 after acquiring an additional 64 shares during the period. Drive Wealth Management LLC increased its holdings in Valero Energy by 1.1% in the 1st quarter. Drive Wealth Management LLC now owns 5,797 shares of the oil and gas company’s stock worth $990,000 after acquiring an additional 65 shares during the last quarter. Finally, Aua Capital Management LLC lifted its holdings in Valero Energy by 3.1% during the first quarter. Aua Capital Management LLC now owns 2,261 shares of the oil and gas company’s stock valued at $386,000 after purchasing an additional 67 shares during the last quarter. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Stock Up 1.7 %

Valero Energy stock traded up $2.44 on Friday, hitting $145.87. 1,523,954 shares of the stock traded hands, compared to its average volume of 2,482,840. The business’s fifty day simple moving average is $151.01 and its 200 day simple moving average is $155.58. The firm has a market cap of $47.70 billion, a P/E ratio of 7.22, a price-to-earnings-growth ratio of 2.79 and a beta of 1.42. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 0.34. Valero Energy Co. has a 1 year low of $119.88 and a 1 year high of $184.79.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, July 25th. The oil and gas company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.11. The firm had revenue of $34.49 billion for the quarter, compared to analysts’ expectations of $32.97 billion. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $5.40 earnings per share. As a group, sell-side analysts forecast that Valero Energy Co. will post 12.86 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, August 1st. Valero Energy’s payout ratio is presently 21.20%.

Analyst Ratings Changes

VLO has been the subject of a number of recent research reports. StockNews.com lowered shares of Valero Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. TD Cowen decreased their price target on Valero Energy from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Mizuho upgraded shares of Valero Energy from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $165.00 to $175.00 in a research report on Wednesday, July 17th. Piper Sandler lowered their target price on shares of Valero Energy from $187.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Finally, Scotiabank increased their price objective on Valero Energy from $165.00 to $173.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.00.

Valero Energy Profile

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.