Angeles Wealth Management Expands Stake in Valero Energy by 16.1%

Angeles Wealth Management LLC has increased its position in Valero Energy Corporation (NYSE: VLO) by **16.1%** during the second quarter of 2023. The firm disclosed that it acquired an additional **397 shares**, bringing its total holdings to **2,860 shares** valued at approximately **$385,000** as per its latest filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also adjusted their stakes in Valero Energy recently. For instance, Wayfinding Financial LLC purchased a new stake in the company during the first quarter worth **$26,000**. Similarly, Hoey Investments Inc. and GFG Capital LLC both acquired new stakes in the second quarter, each valued at **$26,000** and **$27,000**, respectively. Hazlett Burt & Watson Inc. significantly increased its stake by **156.6%** during the first quarter, now owning **213 shares** valued at **$28,000** after an additional purchase of **130 shares**. Hemington Wealth Management also expanded its investment by **39.9%** in the same period, bringing its total to **333 shares** worth **$43,000**.

Institutional investors collectively hold **78.69%** of Valero Energy’s stock, reflecting a strong confidence in the company.

Valero Energy’s Stock Performance

As of October 6, 2023, Valero Energy shares opened at **$157.62**. The company has a current ratio of **1.62**, a quick ratio of **1.11**, and a debt-to-equity ratio of **0.38**. With a market capitalization of approximately **$48.96 billion**, Valero exhibits a price-to-earnings (P/E) ratio of **65.68** and a price-to-earnings-growth (PEG) ratio of **1.61**. The stock’s performance has fluctuated, reaching a **12-month low** of **$99.00** and a **12-month high** of **$178.43**.

Analyst Ratings and Forecasts

Analysts’ opinions on Valero Energy’s stock vary, with several recent evaluations. Weiss Ratings reaffirmed a “hold” rating on **October 8, 2023**. In contrast, Wells Fargo & Company initiated coverage with an “overweight” rating and set a price target of **$216.00**. Evercore ISI raised its price objective from **$135.00** to **$185.00** while maintaining an “in-line” rating. TD Cowen adjusted its rating from “buy” to “hold,” increasing its price target from **$118.00** to **$140.00**. Barclays also raised its price target from **$151.00** to **$169.00**, giving the stock an “overweight” rating.

Currently, two analysts have rated Valero Energy with a “Strong Buy,” ten with a “Buy,” and six with a “Hold.” According to MarketBeat, the average rating for Valero Energy is “Moderate Buy,” with a consensus price target of **$173.27**.

Valero Energy Corporation is a leading player in the oil and gas sector, manufacturing, marketing, and selling petroleum-based and low-carbon liquid transportation fuels and petrochemical products across various regions, including the United States, Canada, the United Kingdom, and Latin America. The company operates through three main segments: Refining, Renewable Diesel, and Ethanol.

For those interested in further insights into Valero Energy and its institutional holdings, detailed reports can be accessed on platforms like HoldingsChannel.com.