5 Oil Stocks Billionaires Are Loading Up On

Page 1 of 5

In this article, we discuss 5 oil stocks that billionaires are buying. If you want to see more stocks in this selection, check out 10 Oil Stocks Billionaires Are Loading Up On.

5. Phillips 66 (NYSE:PSX)

Number of Billionaire Investors: 14

Dollar Value of Billionaire Holdings: $452,249,035

Number of Hedge Fund Holders: 37

Phillips 66 (NYSE:PSX) is a Houston, Texas-based company that operates in various segments of the oil and gas industry. The company was established following a spin-off from ConocoPhillips (NYSE:COP). Phillips 66 (NYSE:PSX) is also one of the best oil stocks attracting billionaires as of Q1 2023.

On May 18, Ryan Todd at Piper Sandler assigned Phillips 66 (NYSE:PSX) stock a target price of $127 along with an Overweight rating. There is a widespread consensus on the positive prospects of Phillips 66 (NYSE:PSX) stock in the refining and marketing (R&M) segment due to the company’s enhanced capital returns and limited downtime during Q1 2023. For Q2 2023, Phillips 66 (NYSE:PSX) has provided the best utilization rate guidance in the range of 91% to 93%.

Page 1 of 5