In this article, we will be taking a look at 3 energy stocks to buy now according to billionaire Leon Cooperman. To read our detailed analysis of Leon Cooperman’s hedge fund profile, investment strategy, and 13F holdings, you can go directly to see the 7 Best Energy Stocks to Buy Now According to Billionaire Leon Cooperman.
3. Trinity Industries, Inc. (NYSE:TRN)
Omega Advisors’ Stake Value: 58,890,000
Percentage of Omega Advisors’ 13F Portfolio: 2.9%
Number of Hedge Fund Holders: 16
Trinity Industries, Inc. (NYSE:TRN) is an industrials company providing rail and transportation products and services to industrial shipper and railroad companies in the energy industry, among others. The company also serves railroads, leasing companies, and industrial shippers of products in the energy, agriculture, and construction industries among others.
Allison Poliniak Cusic, an analyst at Wells Fargo, holds an Overweight rating on Trinity Industries, Inc. (NYSE:TRN) shares as of this July. She also raised her price target on the stock to $36.
This May, Trinity Industries, Inc. (NYSE:TRN) also announced its quarterly dividend of $0.2 per share. This marks 12 years of dividend growth for the company, making it a viable option for income investors looking to earn reliable passive income through dividends.
There were 16 hedge funds holding stakes in Trinity Industries, Inc. (NYSE:TRN) in the first quarter of 2022, with a total stake value of $134 million.
2. Coterra Energy Inc. (NYSE:CTRA)
Omega Advisors’ Stake Value: $60,800,000
Percentage of Omega Advisors’ 13F Portfolio: 3.1%
Number of Hedge Fund Holders: 39
Coterra Energy Inc. (NYSE:CTRA) is an independent oil and gas company. It engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the US.
Wells Fargo analyst Nitin Kumar holds an Overweight rating on Coterra Energy Inc. (NYSE:CTRA) shares as of this July. The analyst has also raised the price target on Coterra Energy Inc. (NYSE:CTRA) shares to $46.
In the first quarter of 2022, 39 hedge funds were long Coterra Energy Inc. (NYSE:CTRA). Their total stake value was $551.5 million. In the previous quarter, 37 hedge funds were long the stock, with a total stake value of $499.9 million.
Diamond Hill Capital, an investment management firm, mentioned Coterra Energy Inc. (NYSE:CTRA) in its first quarter of 2022 investor letter. Here’s what they said:
“Amid a rocky market environment, our portfolio’s negative returns still outpaced the Russell 2000 Index by a healthy margin in Q1. Relative performance was aided by strength among our consumer staples holdings — in aggregate, their positive returns outpaced the market. We were further aided by our above-benchmark exposure. We exited Coterra Energy (NYSE:CTRA), taking advantage of higher share prices in response to the run-up in commodities to reallocate to other opportunities.”
1. Devon Energy Corporation (NYSE:DVN)
Omega Advisors’ Stake Value: $119,881,000
Percentage of Omega Advisors’ 13F Portfolio: 6.02%
Number of Hedge Fund Holders: 66
Devon Energy Corporation (NYSE:DVN) is another independent energy company. It makes up over 6% of Omega Advisors’ portfolio according to their latest 13F holdings. The company explores, develops, and produces oil, natural gas, and natural gas liquids in the US. It is also dedicated to hydrocarbon exploration in the US and is based in Oklahoma City.
Neil Mehta, an analyst at Goldman Sachs, holds a Neutral rating on Devon Energy Corporation (NYSE:DVN) shares as of this July. The analyst also has a $61 price target on the stock.
Out of 912 hedge funds, 66 funds were long Devon Energy Corporation (NYSE:DVN) in the first quarter of 2022. Their total stake value was $1.9 billion.
See also Bill Gates’ Stock Portfolio: Top 15 Picks and 10 Best Stocks To Invest In Right Now.
