Valero Energy Corporation (NYSE:VLO) Shares Sold by First Merchants Corp

First Merchants Corp trimmed its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 11.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,597 shares of the oil and gas company's stock after selling 2,094 shares during the period. First Merchants Corp's holdings in Valero Energy were worth $2,060,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of VLO. Ameriflex Group Inc. acquired a new position in Valero Energy during the 4th quarter worth about $29,000. OFI Invest Asset Management acquired a new stake in shares of Valero Energy during the fourth quarter worth about $37,000. Millstone Evans Group LLC acquired a new stake in shares of Valero Energy during the fourth quarter worth about $44,000. SBI Securities Co. Ltd. purchased a new position in shares of Valero Energy in the fourth quarter valued at approximately $52,000. Finally, Transce3nd LLC acquired a new position in shares of Valero Energy in the fourth quarter valued at approximately $58,000. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group decreased 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. Piper Sandler decreased their target price on Valero Energy from $144.00 to $140.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Evercore ISI started coverage on Valero Energy in a research note on Wednesday, June 18th. They set an "in-line" rating and a $135.00 target price for the company. Morgan Stanley reduced their price target on Valero Energy from $160.00 to $145.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, TD Cowen lowered their price objective on Valero Energy from $121.00 to $118.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Valero Energy presently has a consensus rating of "Moderate Buy" and an average price target of $150.88.

Valero Energy Price Performance

Shares of NYSE:VLO opened at $137.04 on Friday. Valero Energy Corporation has a 12 month low of $99.00 and a 12 month high of $167.78. The firm has a market capitalization of $42.92 billion, a P/E ratio of 48.42, a P/E/G ratio of 2.37 and a beta of 0.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.56 and a quick ratio of 1.09. The company's fifty day moving average price is $127.32 and its 200 day moving average price is $127.69.

Valero Energy (NYSE:VLO - Get Free Report) last posted its earnings results on Thursday, April 24th. The oil and gas company reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $1.16 by ($0.27). Valero Energy had a return on equity of 6.30% and a net margin of 0.72%. The firm had revenue of $28.76 billion for the quarter, compared to analyst estimates of $28.54 billion. During the same quarter last year, the firm posted $3.82 EPS. The firm's revenue for the quarter was down 4.7% on a year-over-year basis. As a group, sell-side analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, May 20th were given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 3.30%. The ex-dividend date was Tuesday, May 20th. Valero Energy's dividend payout ratio (DPR) is 159.72%.

Valero Energy Company 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.

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