In this article, we will look at the 10 Best Oil Stocks to Buy Right Now.
On March 13, 3Fourteen’s Warren Pies appeared on CNBC’s ‘Closing Bell’ to talk about his view of the equity markets and whether oil prices are driving equities lower. Pies said that he is concerned, as they downgraded stocks a month ago from Overweight to Benchmark weight. According to him, this week has been about broader markets starting to embed the impact of the conflict in Iran, and oil is driving the bus right now. Next week is crucial, according to Pies, and if we don’t have a resolution or are at least moving towards a clear path to a resolution, it will be problematic for stocks.
READ ALSO: 11 Oil Stocks with Highest Upside Potential AND 12 Best Undervalued Stocks to Invest In Right Now
Leon Panetta, former Secretary of Defense and former CIA Director, also appeared on CNBC’s ‘Closing Bell Overtime’ on March 13 to talk about the scenario around the Iran war, and stated that the problem right now is that Iran feels that as long as it can keep the Strait of Hormuz closed, it is going to produce “tremendous pressure” in terms of the price of oil. We have experienced the largest disruption in oil in recent history, accompanied by a dramatic increase in fuel prices. That gives Iran leverage, and for that reason, Panetta stated that he is a little surprised that there was no plan to deal with the closure in place.
With these broader trends in view, let’s look at the best oil stocks to buy right now.
Our Methodology
We used the Finviz stock screener to compile a list of the best stocks operating in the oil industry and selected the top 10 most popular among elite hedge funds as of Q3 2025. We sourced the hedge fund data from Insider Monkey’s database. The stocks are ranked in ascending order of hedge fund sentiment.
Note: All data was recorded on March 13.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
10 Best Oil Stocks to Buy Right Now
10. Permian Resources Corporation (NYSE:PR)
Permian Resources Corporation (NYSE:PR) is one of the best oil stocks to buy right now. Permian Resources Corporation (NYSE:PR) received a rating update from Piper Sander on March 12, with the firm raising the price target on the stock to $27 from $24 while maintaining an Overweight rating on the shares. The firm told investors in a research note that it raised its mid-cycle crude price forecast to $75 per barrel from $70 amid the Iran war, and cited its increased price deck for the bump in the price targets for the stocks in the sector. Piper anticipates lasting supply impacts and stated that higher prices are required to incentivize investment in production.
Previously, Piper Sandler adjusted the price target on Permian Resources Corporation (NYSE:PR) to $24 from $20 on March 5 and maintained an Overweight rating on the shares. It told investors that the rotation trade got a shot in the arm that week, with the Iran war putting 20% of global oil, product, and gas supply at risk. It added that although the fiscal Q4 results and FY26 outlooks have been overshadowed by the war, the firm expects little change from U.S. operators in the wake of the conflict.
Permian Resources (NYSE:PR) is an independent natural gas and oil company specializing in acquiring, optimizing, and developing oil and natural gas properties. A significant majority of the company’s assets are concentrated within the Delaware Basin in Eddy and Lea Counties, New Mexico, and Reeves and Ward Counties, Texas.
9. EOG Resources, Inc. (NYSE:EOG)
EOG Resources, Inc. (NYSE:EOG) is one of the best oil stocks to buy right now. Barclays lifted the price target on EOG Resources, Inc. (NYSE:EOG) to $140 from $133 on March 13 and reiterated an Equal Weight rating on the shares. It believes that cash flow tailwinds for the exploration and production group are continuing to remain underappreciated, and while the oil spike is “unlikely to last for long”, the firm believes that the market is underappreciating the cash flow benefit, as well as the the “durable benefit”, it will have on the group’s capacity to raise cash returns beyond the conflict.
UBS also raised the price target on EOG Resources, Inc. (NYSE:EOG) to $158 from $149 on March 5 and reaffirmed a Buy rating on the shares. It told investors in a research note that prolonged conflict in the Middle East and potential Qatar gas supply disruptions appear to be underpriced by the market, and this may lift oil and natural gas prices while driving the strongest free cash flow upside for companies producing both oil and gas.
EOG Resources, Inc. (NYSE:EOG) explores, develops, produces, and markets natural gas and crude oil. Its operations are divided into the following geographical segments: the United States, Trinidad, and Other International.
