First Merchants Corp Sells 2,476 Shares of Valero Energy Corporation $VLO

First Merchants Corp trimmed its stake in shares of Valero Energy Corporation (NYSE:VLO) by 15.9% in the second quarter, HoldingsChannel reports. The firm owned 13,121 shares of the oil and gas company’s stock after selling 2,476 shares during the quarter. First Merchants Corp’s holdings in Valero Energy were worth $1,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hoey Investments Inc. bought a new position in Valero Energy during the second quarter worth $26,000. Wayfinding Financial LLC bought a new position in Valero Energy during the first quarter worth $26,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Valero Energy by 156.6% during the first quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company’s stock worth $28,000 after buying an additional 130 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Valero Energy during the first quarter worth $43,000. Finally, Iron Horse Wealth Management LLC acquired a new stake in shares of Valero Energy during the first quarter worth $44,000. 78.69% of the stock is owned by institutional investors.

Valero Energy Stock Down 0.5%

VLO stock opened at $162.41 on Thursday. The company has a market cap of $50.45 billion, a PE ratio of 67.67, a price-to-earnings-growth ratio of 1.74 and a beta of 1.05. The business has a 50-day simple moving average of $152.45 and a 200 day simple moving average of $137.53. Valero Energy Corporation has a 52 week low of $99.00 and a 52 week high of $178.43. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.62. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The firm had revenue of $29.89 billion for the quarter, compared to analysts’ expectations of $27 billion. During the same quarter in the previous year, the business posted $2.71 earnings per share. The business’s revenue for the quarter was down 13.3% on a year-over-year basis. Sell-side analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st were given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Thursday, July 31st. Valero Energy’s payout ratio is currently 188.33%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VLO. TD Cowen downgraded Valero Energy from a “buy” rating to a “hold” rating and lifted their target price for the stock from $118.00 to $140.00 in a report on Tuesday, July 22nd. Bank of America raised Valero Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $152.00 to $179.00 in a report on Wednesday, September 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Valero Energy in a report on Wednesday. Citigroup downgraded Valero Energy from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $134.00 to $150.00 in a report on Wednesday, July 16th. Finally, UBS Group lifted their target price on Valero Energy from $165.00 to $183.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Valero Energy presently has an average rating of “Moderate Buy” and an average target price of $168.07.

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.