10 Oil & Gas Stocks to Buy Today According To Rajiv Jain’s GQG Partners

Published March 29, 2022 at 10:28 am EDT Updated September 7, 2026 at 2:04 pm EDT

In this piece, we will take a look at the ten oil and gas stocks to buy today according to Rajiv Jain’s GQG Partners.

Mr. Rajiv Jain is at the helm of affairs of the investment firm GQG Partners. GQG Partners is based out of Florida, United States, and Mr. Jain is currently serving as the firm’s chairman and chief investment officer. Both of these are crucial roles that keep the executive involved not only in the firm’s long term goals and strategy as its chairman, but they also allow him to oversee the firm’s investment decisions through the role of its head of investments.

Mr. Jain set up GQG Partners in June 2016 and since then he has played a crucial role in the firm’s growth. He has more than three decades of experience in the financial world. He started out his career in the industry in the early 1990s when he joined the Swiss Bank as an equity analyst. After a brief stint at the firm, Mr. Jain would then go on to join the multi-boutique asset management firm Vontobel Asset Management.

After leaving Vontobel in May 2016, Mr. Jain set up GQG Partners only a month later in June. In addition to being the firm’s chairman and investment chief, the executive is also responsible for managing GQG’s long only equity strategies as an analyst and portfolio manager. GQG provides investment vehicles from a variety of entities such as mutual funds and private funds. It focuses on what to expect from its target companies’ future, by conducting research on a variety of financial metrics.

All this has contributed towards making the firm a multi billion dollar entity. This is evidenced by its portfolio, which according to Insider Monkey’s research, stood at $40 billion as the fourth quarter of last year came to an end. A cursory look at the companies present inside it reveals that GQG Partners takes a diversified approach to investment, with firms from several sectors present in the portfolio.

In this piece, we will zoom in on the oil and gas stocks that the hedge fund has invested in. The top three investments for this sector are in Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR), Exxon Mobil Corporation (NYSE:XOM), and Occidental Petroleum Corporation (NYSE:OXY). However, as mentioned above, the portfolio is quite diverse, and some of its favorite investments are in Alphabet Inc. (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT), Walmart Inc. (NYSE:WMT).

10 Oil & Gas Stocks to Buy Today According To Rajiv Jain's GQG Partners

Our Methodology

In order to pick out the top oil and gas holdings of Mr. Jain’s investment firm, we scoured through GQG’s filings with the securities and exchange commission for the fourth quarter of last year. This enabled us to identify the top ten stock picks, following which we analyzed the firms through their quarterly earnings, investor letters, analyst coverage, other large shareholders, and hedge fund sentiment garnered through Insider Monkey’s survey of 924 funds for Q4 2021.

Oil & Gas Stocks to Buy Today According To Rajiv Jain’s GQG Partners

10. CMS Energy Corporation (NYSE:CMS)

GQG Partners’ Stake Value: $3.4 million

Percentage of GQG Partners’ 13F Portfolio: <0.01%

Number of Hedge Fund Holders: 25

CMS Energy Corporation (NYSE:CMS) is an American utility provider that is headquartered in the state of Michigan. The company has three divisions, which cover electricity, gas, and enterprises. Through its gas division, the company buys, stores, transmits and sells natural gas to its customers.

GQG Partners owned 52,425 CMS Energy Corporation shares by the end of the fourth quarter of last year, which translated into a $3.4 million stake. During the same time period, 25 out of the 924 hedge funds polled by Insider Monkey also held a stake in the company.

CMS Energy Corporation earned $2 billion in revenue and $0.40 in GAAP EPS for its fiscal fourth quarter, in a mixed bag of results that saw it beat analyst estimates only for revenue. BMO Capital raised the company’s share price target to $75 from an earlier $70 in March 2022, highlighting that several factors such as earnings per share, regulatory environment, and management execution are favorable.

CMS Energy Corporation’s largest investor is Stuart J. Zimmer’s Zimmer Partners. It owns 2.6 million shares that are worth $175 million.

Microsoft Corporation, Alphabet Inc., and Walmart Inc. are met by CMS Energy Corporation in the list of GQG Partners’ top stock picks.

9. Chevron Corporation (NYSE:CVX)

GQG Partners’ Stake Value: $4.5 million

Percentage of GQG Partners’ 13F Portfolio: 0.01%

Number of Hedge Fund Holders: 56

Chevron Corporation (NYSE:CVX) is a large oil company that is involved in both exploration and refinement. The company operates exploration and production facilities for oil and natural gas. Additionally, it is also involved in the refining and marketing of crude oil products.

For its fiscal Q4, Chevron Corporation reported $48 billion in revenue and $2.56 in non-GAAP EPS, beating analyst estimates for revenue only. Morgan Stanley downgraded its stock to Equal Weight and kept the share price target at $166 in March 2022, stating that recent strong performance by the shares carries the worry of overvaluation.

By the end of Q4 2021, Mr. Jain’s investment firm had owned 38,725 Chevron Corporation shares which were worth $4.5 million and represented 0.01% of its investment portfolio. During the same time period, 56 of the 924 hedge funds surveyed by Insider Monkey also owned the company’s shares.

Warren Buffett’s Berkshire Hathaway is Chevron Corporation’s largest investor through a $4.4 billion stake that comes via 38 million shares.

8. Exelon Corporation (NASDAQ:EXC)

GQG Partners’ Stake Value: $207 million

Percentage of GQG Partners’ 13F Portfolio: 0.51%

Number of Hedge Fund Holders: 47

Exelon Corporation (NASDAQ:EXC) is an American utility company that has stakes in several kinds of energy generation such as wind power, fossil fuels, hydroelectric and solar energy. It is involved in the purchase, transmission, and sales of natural gas to retail users.

By the end of the fourth quarter of last year, GQG Partners owned 3.5 million Exelon Corporation shares. These were worth $207 million and represented 0.51% of its investment portfolio. An Insider Monkey survey for the same time period which covered 924 hedge funds revealed that 47 had owned the company’s shares; an all time high since the start of 2013.

Exelon Corporation earned $8.9 billion in revenue and $1.09 in non-GAAP EPS for its fiscal Q4, in a strong set of results that beat analyst estimates for both. Mizuho raised the company’s share price target to $46 from $43 in March 2022, as it stated that its forecasts hint at earnings growth.

Stuart J. Zimmer’s Zimmer Partners is Exelon Corporation’s largest investor. It has a $245 million stake through 4.2 million shares.

ClearBridge Investments mentioned the company in its third quarter 2021 investor letter. Here is what the fund said:

“Turning to the U.S. and Canada region, U.S. electric utility Exelon Corporation performed well during the quarter. Exelon is a U.S. energy provider with one of the cleanest and lowest-cost power generation fleets. Its utilities serve millions of electric and gas customers across Delaware, Illinois, Maryland, New Jersey, Pennsylvania and the District of Columbia. The share price of Exelon Corporation benefited from rising power prices and potential federal support for nuclear energy.”

7. Fortis Inc. (NYSE:FTS)

GQG Partners’ Stake Value: $313 million

Percentage of GQG Partners’ 13F Portfolio: 0.77%

Number of Hedge Fund Holders: 9

Fortis Inc. (NYSE:FTS) is one of the oldest companies in the world, after being founded in 1885. It is headquartered in Canada and is responsible for providing electricity and natural gas to customers in the U.S., Canada, and the Caribbean. The company owns thousands of kilometers of natural gas pipelines and distributes natural gas to more than a million customers in Canada.

Fortis Inc. posted $0.63 in non-GAAP EPS for its fiscal fourth quarter, managing to beat analyst estimates by $0.07. BMO Capital raised its share price target to CAD$60 from CAD$57 in March 2022, alongside keeping a Market Perform rating for the shares.

Mr. Jain’s GQG Partners had a $313 million stake in Fortis Inc. by the end of Q4 2021. This was through owning 6.4 million shares and it represented 0.77% of the firm’s portfolio. During the same time period, nine out of 924 hedge funds part of Insider Monkey’s research had also held a stake in the company.

Fortis Inc. (NYSE:FTS)’s largest investor after GQG is Jim Simons’ Renaissance Technologies which owns 3.4 million shares worth $166 million.

6. Atmos Energy Corporation (NYSE:ATO)

GQG Partners’ Stake Value: $375 million

Percentage of GQG Partners’ 13F Portfolio: 0.93%

Number of Hedge Fund Holders:

Atmos Energy Corporation (NYSE:ATO) is an American natural gas company that is responsible for distribution, storage, and pipelines. The company not only distributes natural gas to millions of customers but also manages storage reservoirs and transports gas for third parties.

Mr. Jain’s investment firm had a $375 million stake in Atmos Energy Corporation by the end of last year’s fourth quarter. This was through 3.5 million shares and it represented 0.93% of the investment firm’s portfolio. A Q4 2021 Insider Monkey survey of 924 hedge funds revealed that 20 had owned the company’s shares.

For its fiscal first quarter, Atmos Energy Corporation brought in $1 billion in revenue and $1.86 in GAAP EPS, beating analyst estimates for EPS and missing them for revenue. Goldman Sachs raised the company’s price target to $113 from $112 in February 2022, as it shared that strong execution will drive growth.

Stuart J. Zimmer’s Zimmer Partners is Atmos Energy Corporation’s largest investor after Mr. Jain’s firm. It has a $68 million stake that comes through 650,000 shares.

Atmos Energy Corporation joins Alphabet Inc., Microsoft Corporation, and Walmart Inc. as one of Mr. Jain’s favorite stocks.

5. Enbridge Inc. (NYSE:ENB)

GQG Partners’ Stake Value: $380 million

Percentage of GQG Partners’ 13F Portfolio: 0.94%

Number of Hedge Fund Holders: 22

Enbridge Inc. (NYSE:ENB) is an infrastructure firm that is involved in the storage and transportation of natural gas. The company invests in natural gas pipelines and storage facilities. It also distributes natural gas to commercial, retail, and industrial customers in Canada.

By the end of Q4 2021, Mr. Jain’s investment firm owned 9.7 million Enbridge Inc. shares. These were worth $380 million and represented 0.94% of its portfolio. During the same time period, 22 of the 924 hedge funds polled by Insider Monkey owned the company’s shares.

Enbridge Inc. posted CAD$0.68 in non-GAAP EPS for its fiscal Q4, missing analyst estimates for the metric. BMO Capital raised the company’s price target to $59 from $57 in February 2022, alongside keeping an Outperform rating on the shares.

Joseph Sirdevan’s Galibier Capital Management is Enbridge Inc.’s largest investor after GQG Partners. It owns one million shares worth $43 million.

ClearBridge Investments mentioned Enbridge Inc. in its third quarter 2021 investor letter. Here is what the fund said:

“We are meaningfully overweight energy, particularly within North American energy infrastructure. Enbridge and Williams, our two infrastructure holdings, possess crown jewel infrastructure assets. They each deliver meaningful proportions of the overall energy produced and consumed in North America. Their revenues are backed by long-term contracts with high-quality counterparties and have little direct commodity price exposure. Their growth has been driven by the increasing production of North American energy. The advent of unconventional oil and gas production (oil sand and shale) has made North America a low-cost competitor on a global basis. We expect strong North American production to be an enduring feature of global energy supply for decades to come.”

4. Devon Energy Corporation (NYSE:DVN)

GQG Partners’ Stake Value: $638 million

Percentage of GQG Partners’ 13F Portfolio: 1.58%

Number of Hedge Fund Holders: 52

Devon Energy Corporation (NYSE:DVN) is an oil and natural gas producer based in the United States. The company has thousands of wells and is headquartered in Oklahoma City, Oklahoma.

By the end of its fiscal fourth quarter, Devon Energy Corporation beat analyst estimates for both revenue and non-GAAP EPS, by posting $4.27 billion and $1.39 in the segments, respectively. Piper Sandler raised the company’s price target to $67 from $62 in February 2022, stating that the segment is beating capital expenditure hurdles.

GQG Partners owned a $638 million stake in Devon Energy Corporation by the end of the fourth quarter of last year. This came through owning 14 million shares and it represented 1.58% of the investment firm’s portfolio. A Q4 2021 Insider Monkey poll of 924 hedge funds revealed that 52 had also owned a stake in the company.

Devon Energy Corporation’s largest investor after GQG Partners is Ken Fisher’s Fisher Asset Management which owns 3.9 million shares worth $175 million.

3. Occidental Petroleum Corporation (NYSE:OXY)

GQG Partners’ Stake Value: $666 million

Percentage of GQG Partners’ 13F Portfolio: 1.65%

Number of Hedge Fund Holders: 68

Occidental Petroleum Corporation is a global oil and gas developer headquartered in Houston, Texas, United States. The company explores, develops, and produces natural gas and associated products. It operates in the U.S., Middle East, Latin America, and Africa.

Mr. Jain’s investment firm owned 22 million Occidental Petroleum Corporation shares by the end of Q4 2021. These were worth $666 million and represented 1.65% of its portfolio. During the same time period, 68 out of 924 hedge funds polled by Insider Monkey also owned a stake in the company.

Occidental Petroleum Corporation brought in $8 billion in revenue and $1.48 in non-GAAP EPS, pleasing Wall Street by beating analyst estimates for both. Morgan Stanley increased the firm’s price target to $52 from $50 in March 2022, outlining that the company has great long term potential via a diversified revenue stream and good asset quality.

Carl Icahn’s Icahn Capital LP is Occidental Petroleum Corporation’s largest investor through a $1.3 billion stake that comes through 45 million shares.

Smead Capital Management mentioned Occidental Petroleum Corporation in its third quarter 2021 investor letter, outlining that:

“Oil stocks dominated our winners for the quarter. We showed that we have unlimited ability to tempt fate by buying into Occidental Petroleum (OXY) this year after it was our biggest loser of 2020. It gained 16.64% during the third quarter.”

2. Exxon Mobil Corporation (NYSE:XOM)

GQG Partners’ Stake Value: $1.9 billion

Percentage of GQG Partners’ 13F Portfolio: 4.91%

Number of Hedge Fund Holders: 73

Exxon Mobil Corporation is a crude oil and natural gas explorer and producer that is headquartered in the American state of Texas. It manufacturers, transports, and sells oil and natural gas and has thousands of wells.

As its fiscal Q4 came to an end, Exxon Mobil Corporation had raked in $84.9 billion in revenue and $2.05 in non-GAAP EPS, beating analyst estimates for both. Barclays raised the company’s price target to $98 from $91 in March 2022, outlining that the new price reflected updated assumptions.

GQG Partners had a whopping $1.9 billion stake in Exxon Mobil Corporation during the fourth quarter of last year. This came through owning 32 million shares and represented 4.91% of its investment portfolio. An Insider Monkey survey of 924 hedge funds for Q4 2021 revealed that 73 also held a stake in the oil company.

Jean-Marie Eveillard’s First Eagle Investment Management is Exxon Mobil Corporation’s second largest investor. It has a $1.4 billion stake that comes through 23 million shares.

Saturna Capital mentioned the company in its Q4 2021 investor letter. Here is what the firm said:

“Few companies maintain their position at the top for more than a decade or two. One that did was Exxon, which appeared decennially from 1980 through 2010. In 2019 it was ranked 10th, but as of writing has dropped to 39th place.”

1. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

GQG Partners’ Stake Value: $2 billion

Percentage of GQG Partners’ 13F Portfolio: 5.1%

Number of Hedge Fund Holders: 36

Petróleo Brasileiro S.A. – Petrobras is a Brazilian oil and gas producer and seller. The company scouts for, produces, refines, processes, transports, and sells oil.

Petróleo Brasileiro S.A. – Petrobras earned $24 billion in revenue and $5.6 billion in net income for its fiscal fourth quarter, missing analyst estimates for revenue. BofA kept a $16.5 price target for its American Depository Receipts (ADRs) in March 2022, but downgraded the stock rating from Buy to Neutral, stating that domestic price pressure might not bode well for the company.

Mr. Jain’s GQG Partners owned 187 million Petróleo Brasileiro S.A. – Petrobras shares by the end of Q4 2021, for a $2 billion stake that represented 5.1% of its investment portfolio. An Insider Monkey survey of 924 hedge funds covering the same time period outlined that 36 had also owned the company’s shares.

Ken Fisher’s Fisher Asset Management is Petróleo Brasileiro S.A. – Petrobras’s largest investor after GQG. It owns 35 million shares that are worth $385 million.