Louis Navellier is Buying These 5 Energy Stocks in 2022

3. Marathon Oil Corporation (NYSE:MRO)

Value of Navellier & Associates‘ 13F Position: $5.96 million

Number of Hedge Fund Shareholders (as of March 31): 43

Marathon Oil Corporation (NYSE:MRO) didn’t attract as much hedge fund attention as Devon Energy did during Q1, but it certainly captured the imagination of Navellier, who added 237,193 shares of MRO to his fund’s 13F portfolio during the quarter.

Unlike Phillips 66 and many other oil companies, which limit their quarterly instability and uncertainty by locking in hedges on oil prices, Marathon Oil Corporation (NYSE:MRO) had little hedging activity, making it more sensitive and poised to benefit from this year’s rising prices.

Another interesting facet to the Marathon Oil Corporation (NYSE:MRO) story in 2022 is that the company is tax shielded this year following its substantial losses in past years. That means it will be able to return even more of its potentially sizable windfall this year to shareholders. Those tailwinds helped push MRO shares up by over 90% through June 7, though they’ve declined by 25% since then, opening up a more reasonable entry point for investors.