5 Best Oil and Gas Drilling Stocks to Buy Now

In this article, we will take a look at the 5 Best Oil and Gas Drilling Stocks to Buy Now. For a deeper discussion and an expanded list, please see 7 Best Oil and Gas Drilling Stocks to Buy Now.

5. Sable Offshore Corp. (NYSE:SOC)

Number of Hedge Fund Holders: 34

Sable Offshore Corp. (NYSE:SOC) ranks among the best oil and gas drilling stocks to buy now. On June 6, Roth Capital analyst Leo Mariani maintained his Buy rating on Sable Offshore Corp. (NYSE:SOC) following a Politico report that states that the Trump presidential administration is strongly considering the formation of a major petroleum reserve in California.

An oil drilling platform. Photo by Jan-Rune Smenes Reite on Pexels.

According to the firm, should Sable Offshore Corp. (NYSE:SOC) be listed as a key supplier to a new California reserve, Energy Secretary Chris Wright may utilize eminent domain in order to secure the company’s operations on state property.

According to Roth, there is a “reasonable likelihood” that Sable Offshore Corp. (NYSE:SOC) would significantly contribute to a future reserve in California, which might render any present or future lawsuit against the company moot.

Additionally, Benchmark reaffirmed its Hold rating on Sable Offshore Corp. (NYSE:SOC) on June 2 in response to the company’s updated operational and financial projections.

With production continuing uninterrupted, Sable Offshore offered longer-term guidance on its Santa Ynez operations.

Sable Offshore Corp. (NYSE:SOC) operates as an independent oil and gas company with offshore California production platforms.