5 Best Oil and Gas Penny Stocks to Buy

4. Clean Energy Fuels Corp. (NASDAQ:CLNE)

Number of Hedge Fund Holders: 16

Clean Energy Fuels Corp. (NASDAQ:CLNE) is operating in the natural gas industry. It ranks 4th in our list of the best oil and gas penny stocks to buy according to hedge funds since 16 hedge funds out of the 943 funds in our database reported owning stakes in Clean Energy Fuels Corp. (NASDAQ:CLNE). The biggest stakeholder of Clean Energy Fuels Corp. (NASDAQ:CLNE) during this period was Till Bechtolsheimer’s Arosa Capital Management which owns a $13.4 million stake in Clean Energy Fuels Corp. (NASDAQ:CLNE).

In May, Clean Energy Fuels Corp. (NASDAQ:CLNE) posted Q1 results. Adjusted EPS in the quarter came in at -$0.07. Revenue in the period jumped 58.3% year over year to $132.2 million. In 2023, Clean Energy Fuels Corp. (NASDAQ:CLNE) expects its net loss on a GAAP basis to come in the range of $105 million to $115 million.