5 Best US Stocks to Buy Now

In this article, we discuss 5 best US stocks to buy now. If you want to see some more stocks from this list, click 12 Best US Stocks to Buy Now.

5. Centennial Resource Development, Inc. (NASDAQ:CDEV)

Number of Hedge Fund Holders: 28

Centennial Resource Development, Inc. (NASDAQ:CDEV) is a Colorado-based independent oil and natural gas company with interests in properties across the Delaware Basin, Reeves County, West Texas, Lea County, and New Mexico. 

The company published its fourth quarter results on February 23, posting GAAP earnings per share of $0.51, beating estimates by $0.23. The $316.42 million revenue increased 113.69% year-over-year, surpassing market consensus estimates by approximately $31 million. 

On April 7, Piper Sandler analyst Mark Lear upgraded Centennial Resource Development, Inc. (NASDAQ:CDEV) to Overweight from Neutral, lifting the price target to $13 from $10. With Russian oil and product exports off the market, Piper Sandler’s Energy Macro team views the United States as one of the few places to deliver long-term supply growth, the analyst told investors. He thinks that limited supply ultimately drives material upside to crude prices, which has positive implications for companies like Centennial Resource Development, Inc. (NASDAQ:CDEV), despite the outperformance in 2022.

John Overdeck and David Siegel’s Two Sigma Advisors is one of the leading stakeholders of Centennial Resource Development, Inc. (NASDAQ:CDEV), with 4.35 million shares worth $26 million. Overall, 28 hedge funds held long positions in the stock at the end of December 2021.