Jim Cramer Was Right About These 5 Stocks

3. Valero Energy Corporation (NYSE:VLO)

Number of Hedge Fund Holders: 47 

Percentage Increase in Share Price Over Past Month: 13.04%

Valero Energy Corporation (NYSE:VLO) markets transportation fuels and petrochemical products. During the Lightning Round segment of his show on May 18, the former hedge fund manager gave the company a Buy recommendation. The bullish outlook extended to the energy sector in general as the war in Ukraine and supply chain problems helped oil climb to record highs in the past few months, with analysts predicting the prices to stay at these levels till 2023. 

On May 23, Piper Sandler analyst Ryan Todd maintained a Buy rating on Valero Energy Corporation (NYSE:VLO) stock and raised the price target to $135 from $121, noting that there were more “legs” to the refining investment case than the market believes. 

Among the hedge funds being tracked by Insider Monkey, New York-based firm Renaissance Technologies is a leading shareholder in Valero Energy Corporation (NYSE:VLO) with 1.3 million shares worth more than $139 million.