5 Energy Stocks to Watch

In this article, we discuss 5 energy stocks to watch amid the uncertainty in oil markets. If you want to read our detailed analysis of these stocks and the current market situation, go directly to Goldman Sachs’ Latest Prediction on Oil Prices and 10 Energy Stocks to Watch.

5. Chesapeake Energy Corporation (NASDAQ:CHK)

Number Of Hedge Fund Holders: 59

Chesapeake Energy Corporation (NASDAQ:CHK) is an Oklahoma-based company that engages in the acquisition, exploration and development of properties for the production of oil, natural gas and natural gas liquids from underground reservoirs.

On July 18, Goldman Sachs analyst Umang Choudhary initiated coverage of Chesapeake Energy Corporation (NASDAQ:CHK) with a Buy rating and $106 price target, which implies 53% total return. According to the analyst, the acquisition of Vine Energy in the Haynesville and Chief Oil and Gas in Appalachia increased the company’s scale in Appalachia/Haynesville with 15 years of attractive inventory. The analyst believes this can support free cash flow yields of 26%/24%/15% in 2022 through 2024, and believes that Chesapeake Energy Corporation (NASDAQ:CHK) is exposed to a long-term favorable gas macro outlook. The analyst thinks the stock will deliver attractive near-term capital returns.

Overall, 59 hedge funds reported owning a stake in Chesapeake Energy Corporation (NASDAQ:CHK) at the end of Q1 2022. This was in contrast to 50 hedge funds with $2.33 billion worth of positions in Chesapeake Energy Corporation (NYSE:CHK) at the end of Q4 2021. Howard Marks’ Oaktree Capital Management held roughly 11 million shares of the company valued at $957.1 million, making it the firm’s most prominent Q1 shareholder.