Billionaire Investors are Bullish on These 6 Oil Stocks

First up is Encana Corp (USA) (NYSE:ECA), a Canadian energy producer with a portfolio comprising multiple basins of natural gas, oil and natural gas liquids (NGLs). According to Insider Monkey’s Billionaire database, this stock could be found in the equity portfolios of 8 billionaire hedge fund managers at the end of the 2017 third quarter, up from 7 a quarter before. The largest position was held by Andreas Halvorsen’s Viking Global, which indicated ownership of 93.4 million Encana Corp (USA) (NYSE:ECA) shares in its latest quarterly report, up 29% from the second quarter. Paul Singer and Elliott Management also have a big bet on Encana Corp (USA) (NYSE:ECA), with the fund holding exactly 37.5 million shares at the end of the third quarter.

Energy giant Exxon Mobil Corporation (NYSE:XOM) is also a darling of elite hedge fund managers, with 8 billionaires invested in the company at the end of 2017 Q3. Jim Simons’ Renaissance Technologies was among the top holders of Exxon Mobil Corporation (NYSE:XOM) stock, having indicated ownership of 3.65 million shares, a position initiated during the quarter. David E Shaw’s D E Shaw was also betting on Exxon Mobil Corporation (NYSE:XOM) as it held 1.76 million shares at the end of September. When it comes to overall hedge fund interest, Exxon was the most popular energy stock, with 58 funds invested.