Merit Financial Group LLC Acquires 6,966 Shares of Valero Energy Co. (NYSE:VLO)

Merit Financial Group LLC increased its stake in Valero Energy Co. (NYSE:VLO - Free Report) by 101.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,849 shares of the oil and gas company's stock after acquiring an additional 6,966 shares during the period. Merit Financial Group LLC's holdings in Valero Energy were worth $1,829,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Ameriflex Group Inc. purchased a new stake in shares of Valero Energy during the fourth quarter valued at approximately $29,000. Tobam acquired a new position in Valero Energy in the fourth quarter worth $30,000. Golden State Wealth Management LLC acquired a new position in shares of Valero Energy during the fourth quarter valued at $38,000. OFI Invest Asset Management bought a new position in shares of Valero Energy during the fourth quarter worth about $37,000. Finally, Creative Capital Management Investments LLC grew its position in shares of Valero Energy by 122.0% during the fourth quarter. Creative Capital Management Investments LLC now owns 333 shares of the oil and gas company's stock worth $41,000 after acquiring an additional 183 shares during the last quarter. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Stock Up 1.2%

Shares of VLO traded up $1.47 during trading hours on Friday, reaching $128.35. The company's stock had a trading volume of 2,606,350 shares, compared to its average volume of 3,033,619. The firm has a market cap of $40.20 billion, a price-to-earnings ratio of 15.14, a P/E/G ratio of 2.93 and a beta of 0.99. Valero Energy Co. has a 1-year low of $99.00 and a 1-year high of $167.78. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The company has a 50 day moving average of $120.32 and a two-hundred day moving average of $127.85.

Valero Energy (NYSE:VLO - Get Free Report) last announced its earnings results on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.27). The company had revenue of $28.76 billion for the quarter, compared to the consensus estimate of $28.54 billion. Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. The firm's revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.82 EPS. As a group, research analysts predict that Valero Energy Co. will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, May 20th will be given a $1.13 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $4.52 annualized dividend and a dividend yield of 3.52%. Valero Energy's dividend payout ratio is 159.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. UBS Group lowered their price target on shares of Valero Energy from $160.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, April 28th. TD Cowen reduced their price objective on shares of Valero Energy from $121.00 to $118.00 and set a "buy" rating for the company in a report on Friday, April 25th. Morgan Stanley reduced their price objective on shares of Valero Energy from $160.00 to $145.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Raymond James cut their price target on shares of Valero Energy from $165.00 to $155.00 and set a "strong-buy" rating for the company in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. cut their price objective on Valero Energy from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $151.93.

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.