Angeles Wealth Management Increases Valero Energy Stake by 16.1%

Angeles Wealth Management LLC has increased its ownership in Valero Energy Corporation (NYSE: VLO) by 16.1%, acquiring an additional 397 shares during the second quarter of 2023. As a result, the firm now holds a total of 2,860 shares valued at approximately $385,000, according to its latest filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also been active in modifying their stakes in Valero Energy. For instance, Wayfinding Financial LLC purchased a new stake during the first quarter, investing $26,000. Similarly, Hoey Investments Inc. acquired shares valued at $26,000 in the second quarter, while GFG Capital LLC added a new stake worth $27,000. Hazlett Burt & Watson Inc. significantly increased its position by 156.6% during the first quarter, now owning 213 shares valued at $28,000. Additionally, Hemington Wealth Management raised its stake by 39.9%, owning 333 shares worth $43,000 after its recent purchases. Overall, institutional investors collectively own 78.69% of Valero’s stock.

Valero Energy Stock Performance and Analyst Insights

On the stock market, Valero Energy shares opened at $157.62 on the latest trading day. The company has a market capitalization of $48.96 billion and key financial metrics including a current ratio of 1.62, a quick ratio of 1.11, and a debt-to-equity ratio of 0.38. The stock’s price-to-earnings (P/E) ratio stands at 65.68, with a price-to-earnings-growth (PEG) ratio of 1.61 and a beta of 1.05. Over the past year, shares have fluctuated between a low of $99.00 and a high of $178.43.

Analysts have expressed varying opinions on Valero Energy’s stock. In a note dated October 8, 2023, Weiss Ratings maintained a “hold” rating. Conversely, Wells Fargo & Company recently began coverage with an “overweight” rating and a price target of $216.00. Evercore ISI raised its price objective from $135.00 to $185.00 and issued an “in-line” rating. TD Cowen downgraded its recommendation from “buy” to “hold,” while raising its price target from $118.00 to $140.00. Barclays also increased its price target from $151.00 to $169.00, maintaining an “overweight” rating.

As of now, two research analysts have rated Valero Energy as a Strong Buy, while ten have given a Buy rating and six have classified it as a Hold. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” with a consensus price target of $173.27.

Valero Energy Corporation Overview

Valero Energy Corporation operates as a major manufacturer and seller of petroleum-based and low-carbon liquid transportation fuels and petrochemical products. Its operations extend across the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, and Peru, structured into three main segments: Refining, Renewable Diesel, and Ethanol.

For more insights on institutional holdings and recent trades related to Valero Energy, investors can visit holdingschannel.com.