In this article, we will take a look at the 5 best gas stocks to buy now. To see more such companies, go directly to 12 Best Gas Stocks To Buy Now.
5. Cheniere Energy, Inc. (NYSE:LNG)
Number of Hedge Fund Holders: 60
Ranked 5th in our list of the best gas stocks to buy now, Cheniere Energy, Inc. (NYSE:LNG) operates in the liquefied natural gas sector in the US. It recently signed an agreement with Foran Energy Group, a China-based natural gas distribution firm. Under the agreement, Cheniere Energy, Inc. (NYSE:LNG) will sell roughly 0.9 million tonnes of liquified natural gas annually to Foran Energy Group for the next 20 years. In Q3, it posted earnings of $7.03 per share and revenue of $4.16 billion. In September this year, the gas production giant loaded its 3,000th LNG cargo. Cheniere Energy, Inc. (NYSE:LNG) also owns a 94-mile Creole Trail Pipeline which connects the Sabine Pass LNG with multiple interstate pipelines.
Insider Monkey took a look at hedge fund portfolios for Cheniere Energy, Inc. (NYSE:LNG)’s second quarter of 2023 investments and concluded that 60 had stakes in the firm. David E. Shaw’s D E Shaw was Cheniere Energy, Inc. (NYSE:LNG)’s largest stakeholder which owned 1.4 million stakes for about $217 million.
4. ConocoPhillips (NYSE:COP)
Number of Hedge Fund Holders: 62
One of the largest gas firms in the world, ConocoPhillips (NYSE:COP) ranks 4th in our list of the best gas stocks to buy now. The Texas-based company explores crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids globally. It recently signed a 15-year throughput deal with Gate Terminal in the Netherlands to add regasification capacity in Europe. The agreement is for about 1.5 million tonnes per annum of natural gas and starts in September 2031. In its third quarter, ConocoPhillips (NYSE:COP) reported adjusted earnings of $2.16 per share and revenue of $14.9 billion. The firm also raised the quarterly dividend by about 14%. ConocoPhillips (NYSE:COP) also recently completed the purchase of the remaining 50% interest in Surmont from TotalEnergies SE (NYSE:TTE)’s EP Canada unit for about $2.7 billion.
A total of 62 hedge funds tracked by Insider Monkey had stakes in ConocoPhillips (NYSE:COP) as of second quarter of 2023. The biggest stakeholder of ConocoPhillips (NYSE:COP) was Natixis Global Asset Management’s Harris Associates which owns a $1.5 billion stake in the company.
3. Exxon Mobil Corporation (NYSE:XOM)
Number of Hedge Fund Holders: 71
Exxon Mobil Corporation (NYSE:XOM) is the explorer and manufacturer of crude oil and natural gas globally. With a market capitalization of over $400 billion, Exxon Mobil Corporation (NYSE:XOM) invested $118 billion between 2017 and 2021 to produce global energy resources. Also, Exxon Mobil Corporation (NYSE:XOM) anticipates that international demand for energy will grow 40% from 2016 to 2040 and it will be met by natural gas. It posted Q3 adjusted earnings of $2.27 per share and revenue of $90.8 billion at the end of Sept. 30. Looking ahead, Exxon Mobil Corporation (NYSE:XOM) expects that 15% more energy will be needed by 2050 to meet the demand of 2 billion additional people and a double global economy.
“Natural gas use is projected to increase by more than 20% by 2050 given its utility as a reliable and lower-emissions source of fuel for electricity generation, hydrogen production, and heating for both industrial processes and buildings,” ExxonMobil added in its Global Outlook report for 2050.
Insider Monkey took a look at Q2 hedge fund portfolios for Exxon Mobil Corporation (NYSE:XOM) and found that 71 had stakes in the firm. Jean-Marie Eveillard’s First Eagle Investment Management was the largest stakeholder of Exxon Mobil Corporation (NYSE:XOM) which bought about 13.3 million stakes that were valued at $1.4 billion.
2. Occidental Petroleum Corporation (NYSE:OXY)
Number of Hedge Fund Holders: 73
Founded in 1920, Occidental Petroleum Corporation (NYSE:OXY) acquires, explores, and develops oil and gas properties in the US, the Middle East, North Africa, and Latin America under its Oil and Gas, Chemical, and Midstream and Marketing segments. In Q3, Occidental Petroleum Corporation (NYSE:OXY) posted adjusted diluted earnings of $1.18 per share and revenue of $7.40 billion. The oil and gas firm has also signed an agreement with BlackRock, Inc. (NYSE:BLK) to create a joint venture for developing an air capture plant in Texas.
Out of 910 hedge funds profiled by Insider Monkey at the end of Q2, 73 held stakes in Occidental Petroleum Corporation (NYSE:OXY). The largest stakeholder was Warren Buffett’s Berkshire Hathaway which owned roughly 224.1 million stakes of Occidental Petroleum Corporation (NYSE:OXY) that were valued at $13.2 billion.
1. Chevron Corporation (NYSE:CVX)
Number of Hedge Fund Holders: 73
Chevron Corporation (NYSE:CVX) is one of the biggest oil and gas companies in the world. With a market capitalization of $274 billion, it tops our list of the best gas stocks to buy now. The company produces natural gas annually for 12 million households. It has recently entered into a deal to acquire Hess Corporation (NYSE:HES) in a $53 billion all-share transaction. The combined entity intends to raise oil and gas production. In Q3, Chevron Corporation (NYSE:CVX) posted earnings of $3.49 per share and revenue of $54.1 billion.
From the 910 hedge funds portfolios of Insider Monkey for second quarter of this year, 73 had a stake in Chevron Corporation (NYSE:CVX). Warren Buffett’s Berkshire Hathaway owned the highest number of 123.1 million stakes of Chevron Corporation (NYSE:CVX) that were valued at $19.4 billion.
Disclosure: None. You can also take a look at 11 Best Oil Refinery Stocks To Buy and 10 Energy Stocks with Insider Buying.
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