12 Best Energy Stocks to Buy According to Billionaire Ken Fisher

7. BP p.l.c. (NYSE:BP)

Fisher Asset Management’s Stake: $689.9 million

Number of Hedge Fund Holders: 44

BP p.l.c. (NYSE:BP) is a global energy giant founded in 1908. The company engages in a variety of energy sectors, including natural gas production, wind power, hydrogen, carbon capture, and oil production. BP also invests in EV charging infrastructure, retail gasoline distribution, and lubricant manufacture.

On March 4, Citi reaffirmed its confidence in BP p.l.c (NYSE:BP), maintaining a Buy rating and a price target of GBP5.15 for the company. The endorsement follows BP’s recent strategy update, which Citi analysts have factored into their financial models. The company has demonstrated financial stability by paying dividends for 34 consecutive years, resulting in a current yield of around 6%. The unit depreciation cost estimates have been updated to reflect the higher expenditures spent over the 2023-24 period. Despite these changes, Citi’s forecast for BP’s average earnings per share between 2025 and 2030 fell by just 3%.