In this article, we will list the 5 Must-Buy Non-Tech Stocks to Invest in Now. Please visit 7 Must-Buy Non-Tech Stocks to Invest in Now if you would like to see the extended list and the methodology behind it.
5. Diamondback Energy Inc (NASDAQ:FANG)
Year-to-Date Gains: 32.49%
Number of Hedge Fund Holders: 46
Diamondback Energy Inc (NASDAQ:FANG) is among the must-buy non-tech stocks to invest in now. On March 27, UBS identified Diamondback Energy Inc (NASDAQ:FANG) as one of the oil and gas companies best-positioned to generate shareholder value even when commodity prices are flat.
According to the investment bank, Diamondback’s strong financial position and unique assets allow it to continue to generate value for shareholders regardless of the prevailing price environment.
On March 23, Truist Securities initiated coverage on Diamondback Energy Inc (NASDAQ:FANG) stock with a Buy rating and a price target of $222. Truist pointed to factors such as Diamondback’s resource depth, asset base, and breakeven costs for its bullish stance on the stock. According to the equity research firm, Diamondback has peer-leading characteristics in its sector.
Additionally, Truist noted that Diamondback is the last pure-play large-cap shale producer in the Permian Basin. The firm also pointed out that Diamondback has core assets in the Midland Basin and keeps a secondary position in the Delaware Basin.
In 2025, Diamondback’s average production was 497.2 million barrels per day. The company projects its 2026 production to be in the range of 500,000 – 510,000 barrels per day. Capex in 2025 was $3.5 billion, and it’s expected to be in the band of $3.6 billion to $3.9 billion in 2026. The company expects to spend anywhere between $100 million and $150 million of capital on explorations and tests to boost oil recoveries from its existing asset base in Barnett and Woodford shales.
Diamondback Energy Inc (NASDAQ:FANG) is an American oil and natural gas company. It acquires, develops, explores, and exploits what it describes as unconventional onshore oil and natural gas reserves. Its operations are primarily focused on the Permian Basin in West Texas. Diamondback Energy was founded in 2007 and is based in Midland, Texas.
4. Cenovus Energy Incorporation (NYSE:CVE)
Year-to-Date Gains: 52.99%
Number of Hedge Fund Holders: 46
Cenovus Energy Incorporation (NYSE:CVE) is among the must-buy non-tech stocks to invest in now. On March 27, S&P Global Ratings upgraded its outlook on Cenovus Energy Incorporation (NYSE:CVE) to stable from negative and affirmed its BBB credit rating.
The rating agency cited the company’s improved financials and advancement on growth projects as factors for the outlook revision. The S&P Global Ratings sees Cenovus Energy’s fund from operations to debt ratio reaching 70% – 80% in the next two years.
As part of its debt management strategy, the company decided to reduce its share repurchase allocation to 50% of excess free cash flow until it has cut down its net debt to C$6 billion. It plans to lift the allocation to 75% until it achieves its long-term target of reducing the net debt to C$4 billion.
According to S&P Global Ratings projections, Cenovus Energy will reach C$6 billion of net debt in either late 2027 or early 2028.
On growth, Cenovus Energy is working on five key growth projects. These are Christina Lake North expansion, Sunrise optimization, Foster Creek optimization, Narrows Lake tie back, and West White Rose. First oil from the West White Rose project is expected in mid-2026.
Three of these projects have already been brought online and the company is working to complete the rest. As Cenovus Energy completes these projects, its growth-focused capital spending is expected to drop by C$300 million in 2026 compared to the 2025 level.
With these projects, Cenovus Energy aims to increase production by 150,000 barrels per day by the end of 2028. That represents a 15%-20% production boost over its 2024 level.
On March 19, Goldman Sachs identified Cenovus Energy as one of its top oil stocks amid the Middle East disruptions. According to the equity research firm, Cenovus Energy offers the highest total return potential among Canadian oil companies. The firm sees volume growth contributing to peer-leading free cash flow yields at Cenovus Energy in the 2027-2028 period.
Cenovus Energy Incorporation (NYSE:CVE) is a Canadian oil and natural gas company. It develops, produces, refines, distributes crude oil, natural gas, and refined petroleum products. The company serves the Canadian, US, and Chinese markets. It operates refineries in Canada and the US. Founded in 2009, Cenovus Energy is headquartered in Calgary, Canada.
3. Permian Resources Corp (NYSE:PR)
Year-to-Date Gains: 50.35%
Number of Hedge Fund Holders: 56
Permian Resources Corp (NYSE:PR) is among the must-buy non-tech stocks to invest in now. On March 23, Truist Securities initiated coverage on Permian Resources Corp (NYSE:PR) stock with a Buy rating and a price target of $24. According to the equity research firm, Permian Resources is one of only two oil and gas companies considered Delaware Basin pure-plays.
The firm further noted that Permian Resources is one of the lowest-cost producers. Moreover, Truist pointed to Permian Resources’ strong execution over the past several years as a factor for its bullish view on the stock. Truist expects Permian Resources to continue making strategic mergers and acquisitions that can leverage its low-cost structure.
On March 17, Permian Resources announced that it had achieved investment grade credit ratings at both S&P Global Ratings and Fitch Ratings. The company expects the favorable credit rating at both firms to help reduce its interest expense and improve its liquidity. Permian Resources further said the investment grade status enhances its ability to continue driving free cash flow and shareholder returns.
Permian Resources raised its quarterly dividend to $0.16 per share in February, marking continued growth from its $0.05 base dividend launched in 2022 at a CAGR above 40%. The company ended 2025 with $153.7 million in cash after completing $1.1 billion in accretive acquisitions, cutting debt by over $600 million, and returning $521.4 million to shareholders through $447.7 million in dividends and $73.7 million in buybacks.
Permian Resources Corp (NYSE:PR) is an American independent oil and natural gas company headquartered in Midland, Texas. Its operations are primarily focused on the Delaware Basin within the Permian Basin. The company’s assets include land blocks in Reeves County, West Texas, and Lea County, New Mexico.
2. Cheniere Energy Inc (NYSE:LNG)
Year-to-Date Gains: 50.11%
Number of Hedge Fund Holders: 81
Cheniere Energy Inc (NYSE:LNG) is among the must-buy non-tech stocks to invest in now. On March 27, Reuters reported that Cheniere Energy’s fifth processing unit at the Corpus Christi LNG ( liquefied natural gas) plant in Texas had begun operating at full capacity.
Cheniere has been working to expand its Corpus Christi facility with seven additional processing units to boost its LNG export capacity by 10 million metric tons per year. According to the report, the new processing unit, called Train 5, will boost output by around 1.5 million tons a year. Cheniere is working to complete the remaining two units in the Corpus Christi expansion project.
Texas-based Cheniere is America’s largest LNG exporter. According to Reuters, the attacks on Qatar’s LNG facilities during the Iran war has affected the global supply of LNG, considering that Qatar is the world’s largest producer of LNG. This has resulted in shortages in Asia, and so Cheniere is looking to send more cargoes to that region, according to the report. It may take up to five years for QatarEnergy to restore its LNG output lost due to the attacks on its facilities.
In a separate Reuters report on March 25, Cheniere CEO Jack Fusco said he expected LNG growth to come from Asia, even though Europe remained the market of choice. According to the executive, Cheniere has sent 1,600 cargoes to Europe since Russia invaded Ukraine in 2022.
On March 24, Wolfe Research lifted its price target on Cheniere stock to $315 from $270 while reiterating an Outperform rating on the stock. According to the equity research firm, the Iran war reinvigorates the growth story for Cheniere.
Cheniere Energy Inc (NYSE:LNG) is an American energy company focused on the liquefied natural gas (LNG) business. The company owns and operates liquefied natural gas production, storage, and transport facilities. With major facilities in Louisiana and Texas, Cheniere primarily serves international markets.
1. Vertiv Holdings (NYSE:VRT)
Year-to-Date Gains: 42.97%
Number of Hedge Fund Holders: 112
Vertiv Holdings (NYSE:VRT) is among the must-buy non-tech stocks to invest in now. On March 25, HSBC initiated coverage on Vertiv Holdings (NYSE:VRT) stock with a Buy rating and set a price target of $325. The equity research firm pointed to Vertiv’s leading position as a critical infrastructure provider for data centers, noting that the company is an enabler of AI growth.
The data center segment accounts for around 80% of the company’s revenue. According to HSBC analyst Wesley Brooks, Vertiv has an attractive long-term growth outlook in the data center sector amid AI-driven expansions. HSBC predicts Vertiv a 36% compound annual growth rate for Vertiv’s EPS in the 2026-28 period.
On March 23, Vertiv Holdings (NYSE:VRT) announced that it had struck a deal to acquire ThermoKey S.p.A., an Italian company that provides heat rejection and heat-exchange technologies. It expects this deal to close in Q2 2026.
ThermoKey was founded in 1991 and has forged deep ties with original equipment manufacturers as well as system integrators. It’s recognized for its differentiated engineering capabilities, customer collaboration, and application expertise. ThermoKey has an in-house design and production capability along with a portfolio of heat exchangers and cooling systems.
Vertiv said the acquisition of ThermoKey was part of its ongoing investment in advanced cooling solutions for AI data centers. Consequently, Vertiv expects this acquisition to expand its thermal management portfolio and bolster its ability to offer customers complete thermal solutions for high-density data centers and AI factories.
Vertiv Holdings (NYSE:VRT) is an American multinational provider of infrastructure solutions. Its solutions are used in data centers, communication networks, and commercial and industrial facilities. Its portfolio includes power, cooling, and IT infrastructure and services. Vertiv Holdings operates under various brands and has footprints in more than 130 countries.
While we acknowledge the potential of VRT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than VRT and that has 100x upside potential, check out our report about the cheapest AI stock.
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