5 Best Oil Refinery Stocks To Buy

2. Valero Energy Corporation (NYSE:VLO)

Number of Hedge Fund Holders: 47

Valero Energy Corporation (NYSE:VLO) is a Texas-based company that manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. The company operates through three segments – Refining, Renewable Diesel, and Ethanol. Valero Energy Corporation (NYSE:VLO) declared a $0.98 per share quarterly dividend on December 8. It is one of the premier oil refinery stocks to invest in. 

Piper Sandler analyst Ryan Todd on November 9 lifted the firm’s price target on Valero Energy Corporation (NYSE:VLO) to $177 from $147 and reiterated an Overweight rating on the shares.

Among the hedge funds tracked by Insider Monkey, 47 funds reported owning stakes worth $1.3 billion in Valero Energy Corporation (NYSE:VLO) at the end of Q3 2022, compared to 43 funds in the prior quarter worth $760 million. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital held the biggest position in the company, with 3.13 million shares worth $334.5 million. 

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