First Merchants Corp Has $2.17 Million Holdings in Valero Energy Co. (NYSE:VLO)

First Merchants Corp increased its position in shares of Valero Energy Co. (NYSE:VLO) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,691 shares of the oil and gas company’s stock after buying an additional 950 shares during the period. First Merchants Corp’s holdings in Valero Energy were worth $2,169,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of VLO. Quad Cities Investment Group LLC grew its stake in shares of Valero Energy by 1.6% during the 3rd quarter. Quad Cities Investment Group LLC now owns 4,851 shares of the oil and gas company’s stock worth $655,000 after acquiring an additional 75 shares during the period. Providence Wealth Advisors LLC raised its stake in Valero Energy by 0.9% in the 3rd quarter. Providence Wealth Advisors LLC now owns 8,784 shares of the oil and gas company’s stock valued at $1,169,000 after acquiring an additional 75 shares during the period. New Century Financial Group LLC lifted its holdings in Valero Energy by 5.0% during the third quarter. New Century Financial Group LLC now owns 1,708 shares of the oil and gas company’s stock valued at $231,000 after purchasing an additional 81 shares during the last quarter. Segment Wealth Management LLC boosted its position in Valero Energy by 1.7% during the fourth quarter. Segment Wealth Management LLC now owns 4,947 shares of the oil and gas company’s stock worth $606,000 after purchasing an additional 81 shares during the period. Finally, Opal Wealth Advisors LLC increased its stake in shares of Valero Energy by 4.7% in the third quarter. Opal Wealth Advisors LLC now owns 1,834 shares of the oil and gas company’s stock worth $248,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on VLO shares. TD Cowen dropped their price target on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Mizuho dropped their target price on Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their price target on Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Tudor Pickering upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Citigroup cut their target price on Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $154.46.

Valero Energy Stock Performance

Shares of NYSE VLO opened at $131.03 on Friday. The stock’s 50-day moving average is $130.51 and its 200 day moving average is $136.71. The stock has a market cap of $41.48 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 2.85 and a beta of 1.42. Valero Energy Co. has a 1-year low of $116.84 and a 1-year high of $184.79. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.14 by $0.50. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. On average, sell-side analysts anticipate that Valero Energy Co. will post 7.86 EPS for the current fiscal year.

Valero Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th will be paid a $1.13 dividend. The ex-dividend date of this dividend is Thursday, January 30th. This is an increase from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a yield of 3.45%. Valero Energy’s payout ratio is currently 53.30%.

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.