Exxon Mobil Corporation (XOM), Anadarko Petroleum Corporation (APC) Among The 10 Most Popular Energy Stocks Among Hedge Funds

Warren Buffett’s Berkshire Hathaway owned $1.6 billion worth of refining and marketing company Phillips 66 (NYSE:PSX), another stock to make our top ten list. See Buffett’s stock picks over time. With investors generally leery of the industry, the forward P/E here is only 8 even though analysts expect EPS growth in the future.

Several hedge funds bought into rapidly growing oil and gas producer EOG Resources Inc (NYSE:EOG) between April and June; others, such as Renaissance Technologies, increased their position in the stock. EOG Resources Inc (NYSE:EOG)’s revenue grew by about 40% in Q2 2013 versus a year earlier, with net income climbing over 60%.

Taking the tenth place on our list of hedge funds’ favorite energy stocks is Tesoro Corporation (NYSE:TSO), another oil and gas refining and marketing company. Tesoro Corporation (NYSE:TSO) is no exception to the low multiples of downstream with a forward P/E of 7; the company has been experiencing higher costs recently with negative impacts on profits.

Disclosure: I own no shares of any stocks mentioned in this article.