5 Best Affordable Energy Stocks to Buy Now

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1. APA Corporation (NASDAQ:APA)

Number of Hedge Fund Holders: 47 

Share Price as of December 1: $46.85

APA Corporation (NASDAQ:APA) explores for, develops, and produces oil and gas properties. On November 28, APA Corporation revealed that it has provided an update on exploration activities in Block 58 offshore Suriname. Total Energies is the operator on the block with 50% working interest and APA holds 50% work interest.

On November 17, Piper Sandler analyst Mark Lear maintained a Neutral rating on APA Corporation (NASDAQ:APA) stock and raised the price target to $49 from $46, noting that production models and fiscal 2023 outlooks are updated post the third quarter results.

Among the hedge funds being tracked by Insider Monkey, Chicago-based firm Harris Associates is a leading shareholder in APA Corporation (NASDAQ:APA) with 13.4 million shares worth more than $456.6 million. 

In its Q1 2022 investor letter, Oakmark Funds, an asset management firm, highlighted a few stocks and APA Corporation (NASDAQ:APA) was one of them. Here is what the fund said:

“Our oil holding, APA Corporation (NASDAQ:APA) (+54%) was one of our top contributors in the quarter as oil prices rallied due to tight supplies, which were then exacerbated by the Russian invasion of Ukraine. Although their share prices have increased considerably, both companies still look quite undervalued even using longer-term oil prices in the $65-70 dollar range. Meanwhile, if times are good over the next couple of years, we expect these companies to return significant percentages of their market caps to shareholders.”

You can also take a peek at 11 Best Delivery Stocks To Buy and 12 Biggest Militaries in the World.

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