5 Best Crude Oil Stocks To Buy Today

01. Chesapeake Energy Corporation (NYSE:CHK)

Number of Hedge Fund Holders as of Q2, 2022: 67

Topping our list of 10 best crude oil stocks to buy today is Chesapeake Energy Corporation (NYSE:CHK). Chesapeake Energy Corporation (NASDAQ:CHK) is an independent exploration and production company that engages in the acquisition, exploration, and development of properties for producing oil, natural gas, and natural gas liquids from underground reservoirs. The company is one of the best energy stocks to invest in. It has an impressive dividend profile. On August 2, the firm declared a quarterly dividend of $0.55 per share. The forward yield was a solid 2.21%.

On October 19, analyst Lloyd Byrne at Jefferies began covering Chesapeake Energy Corporation (NASDAQ:CHK) with a Buy rating and a $150 price target. Among the hedge funds tracked by Insider Monkey, 67 were long Chesapeake Energy Corporation (NYSE:CHK) in Q2 2022, with combined stakes worth $3.5 billion. Oaktree Capital Management is a leading shareholder in Chesapeake Energy Corporation (NASDAQ:CHK), with 10 million shares worth more than $851 million.

Here is what ClearBridge Investments Dividend Strategy has to say about Chesapeake Energy Corporation (NYSE:CHK) in its Q1 2022 investor letter:

“In the early days of the invasion, we made two measured changes to the portfolio based on longer-term fallout we anticipate from Russia’s invasion of Ukraine. First, we initiated small positions in U.S. natural gas producers Chesapeake (NYSE:CHK). Given its superior environmental profile compared to other fossil fuels, we have long favored natural gas in our energy holdings. Combustion of natural gas releases 50% less CO2 than coal, 25% less CO2 than gasoline and dramatically less particulate and pollution, per the U.S. Energy Information Administration. With the advances in shale production this century, the U.S. has become a natural gas powerhouse with some of the lowest-cost and largest reserves in the world. But because natural gas is difficult to ship across the ocean (it must be liquefied, which requires expensive infrastructure on both ends of the voyage), America’s gas bounty has ironically proved a burden for U.S. producers (…read more)

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