5 Best Crude Oil Stocks To Buy Today

In this article, we discuss the 5 best crude oil stocks to buy today. If you want to read our detailed analysis of these stocks, go directly to 10 Best Crude Oil Stocks To Buy Today.

5. Chesapeake Energy Corporation (NYSE:CHK)

Number of Hedge Fund Holders: 50

Chesapeake Energy Corporation (NYSE:CHK) is an independent exploration and production company that has been buying oil and natural gas assets in recent months. The Oklahoma-based oil company acquired natural gas firm Vine Energy in November 2021 and oil and gas producer Chief E&D Holdings, LP in January 2022. Chesapeake Energy Corporation (NYSE:CHK) closed the last quarter of 2021 with a net production rate of 539,000 boe per day. 

Chesapeake Energy Corporation (NYSE:CHK) reported a net income of $1.4 billion, or $11.13 per diluted share, for the fourth quarter. In addition, the Oklahoma-based oil company paid $52 million in dividends to stockholders in Q4 2021. Chesapeake Energy Corporation (NYSE:CHK) expects to pay $900 million to $1.1 billion in total dividends in 2022 and more than $5 billion in the next five years.

Chesapeake Energy Corporation (NYSE:CHK) is considered by hedge funds to be one of the top crude oil stocks to buy today, owing to the company’s strong financial health and dividend growth. At the end of the fourth quarter of 2021, 50 hedge funds in the database of Insider Monkey held stakes worth $2.34 billion in Chesapeake Energy Corporation (NYSE:CHK), up from 44 in the preceding quarter worth $2.17 billion. 

Similarly, market analysts are bullish about the Oklahoma-based oil company’s recent acquisitions. RBC Capital analyst Scott Hanold recently increased his price target for Chesapeake Energy Corporation (NYSE:CHK) to $98 from $88, while maintaining an Outperform rating on the shares.