5 Oil Stocks With Biggest Upside

In this article, we discuss the 5 oil stocks with the biggest upside. If you want to read about some more oil stocks with the biggest upside, go directly to 12 Oil Stocks With Biggest Upside.

5. Pioneer Natural Resources Company (NYSE:PXD)

Number of Hedge Fund Holders: 49 

Pioneer Natural Resources Company (NYSE:PXD) operates as an independent oil and gas exploration and production company in the United States. Pioneer Natural Resources revealed that it will seek to lift productivity levels in 2023 by reshuffling its drilling portfolio to target wells with potentially higher returns. The firm is one of the most reliable players in the oil sector with a dividend history stretching back more than sixteen years. The sector median in this regard is just five years. 

On December 7, Barclays analyst Jeanine Wai maintained an Overweight rating on Pioneer Natural Resources Company (NYSE:PXD) stock and lowered the price target to $277 from $300, highlighting that the company posted the third quarter results.

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Pioneer Natural Resources Company (NYSE:PXD) with 769,600 shares worth more than $166.6 million. 

In its Q1 2022 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and Pioneer Natural Resources Company (NYSE:PXD) was one of them. Here is what the fund said:

“Pioneer Natural Resources (NYSE:PXD) performed well in a strong energy sector. Pioneer stood out recently with a pledge to return a large majority of free cash flow to shareowners through dividends and stock buybacks, and ended hedging to give shareowners more earnings and dividend potential should oil and gas prices continue to rise.”