5 Best Oil Stocks that Pay Dividends

4. Valero Energy Corporation (NYSE: VLO)

Number of Hedge Fund Holders: 41
Dividend Yield: 6.18%

Valero Energy Corporation (NYSE: VLO) is a manufacturer of transportation fuels and petrochemical products. The company operates through its Refining, Renewable Diesel, and Ethanol segments, and ranks 4th on our list of the best oil stocks that pay dividends.

Theresa Chen, an analyst at Barclays, recently raised her price target on Valero Energy Corporation (NYSE: VLO) this June. The firm’s new price target on the shares is $94, up from the previous $84 price target, and Chen has also held onto her Overweight rating on Valero Energy Corporation (NYSE: VLO) shares.

In the first quarter of 2021, Valero Energy Corporation (NYSE: VLO) had an EPS of -$1.73, beating estimates by $0.12. The company’s revenue was $20.81 billion, also beating estimates by $1.37 billion. Valero Energy Corporation (NYSE: VLO) has gained about 6.85% in the past 6 months and 13.91% year to date as well.

By the end of the first quarter of 2021, 41 hedge funds out of the 866 tracked by Insider Monkey held stakes in Valero Energy Corporation (NYSE: VLO) worth roughly $462 million. This is compared to 38 hedge funds in the previous quarter with stakes worth approximately $409 million.