5 Oil and Gas Stocks to Buy According to Phill Gross’s Adage Capital

In this article, we discuss the 5 oil and gas stocks to buy according to Phill Gross’s Adage Capital. You can read our detailed analysis of Gross’s hedge fund and recent developments, and go directly to read 10 Oil and Gas Stocks to Buy According to Phill Gross’s Adage Capital.

5. EOG Resources, Inc. (NYSE:EOG)

Number of Hedge Fund Holders: 47

EOG Resources, Inc. (NYSE:EOG), a Texas-based crude oil and natural gas producer, is among the oil and gas stocks in Adage Capital’s portfolio in Q3 2021. In Q3, Adage Capital Management increased its stake in the company by 108% and now holds shares worth over $47.3 million.

As per Insider Monkey’s data for the third quarter, 47 hedge funds were bullish on EOG Resources, Inc. (NYSE:EOG), up from 35 in Q2 2021. The stakes hold a consolidated value of roughly $1.02 billion.

Here is what Madison Funds has to say about EOG Resources, Inc. in its Q3 2021 investor letter:

“EOG is a leading oil and gas exploration and production company with attractive exposure to U.S. shale resources. Its energy mix is ~72% oil and liquid natural gas and 28% natural gas. The company has premium acreage that includes over 10,000 potential drilling locations, which provides a long runway for growth. EOG has a disciplined management team that limits operating expenses and capital spending, which results in high free cash flow, a rarity in the Energy sector….”