10 Best Gas Stocks to Buy According to Billionaires

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1. Hess Corporation (NYSE:HES)

Number of Billionaire Investors: 18

Number of Hedge Fund Holders: 92

Hess Corporation (NYSE:HES) is an American multinational independent energy company that focuses on exploring and producing crude oil and natural gas. The company has a key position in the Bakken in North Dakota and it is also one of the largest producers in the deepwater Gulf of America. It engages in exploration and development activities offshore Guyana. Hess Corporation (NYSE:HES) is a major natural gas producer and supplier to Peninsular Malaysia and Thailand. HES is one of the best gas stocks to buy according to billionaires.

On February 10, Raymond James maintained a “Market Perform” rating on Hess Corporation (NYSE:HES) after the company surpassed expectations in its Q4 2024 earnings. The company reported earnings per share (EPS) of $1.76, surpassing the street’s forecast of $1.53, and cash flow per share (CFPS) of $4.93 to beat the $4.29 estimate by approximately 15%. This performance was driven by higher-than-expected total production and oil and natural gas realizations. Hess Corporation (NYSE:HES) reported a total production output of 495 thousand barrels of oil equivalent per day (mboe/d) for the quarter, compared to the projected 481 mboe/d. The company’s operating costs were 7% below Raymond James’s estimates. Despite these results, Raymond James slightly reduced its Q1 2025 production forecast to 469 mboe/d considering winter weather impacts in the Bakken region and maintenance at the Payara development in Guyana. Additionally, considering Hess Corporation’s (NYSE:HES) ongoing expansion efforts in Guyana’s Stabroek Block, Raymond James adjusted its 2025 capital expenditure forecast to align with the guidance midpoint of approximately $4.5 billion, but slightly below the street’s $4.6 billion projection.

Overall, HES ranks first among the 10 best gas stocks to buy according to billionaires. While we acknowledge the potential of gas companies, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HES but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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