5 Best Gas Stocks To Buy Now

1. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 71

Exxon Mobil Corporation (NYSE:XOM) is one of the best gas stocks to buy now according to market analysts. The American oil behemoth profited greatly from the rally of oil and gas prices, increasing its revenue by more than 80% year-on-year to $84.9 billion in the final quarter of 2021. On March 9, Barclays analyst Jeanine Wai raised her price target on Exxon Mobil Corporation (NYSE:XOM) to $98 from $91, while maintaining an ‘Overweight’ rating on the shares. 

The Texas-based integrated energy company also increased its natural gas production available for sale globally in Q4 2021 to 8,584 mcfd, up from 8,185 mcfd in Q4 2020. Exxon Mobil Corporation (NYSE:XOM), the world’s second-largest oil and gas company, recently announced a $291.5 million budget for expanding its Australian gas unit in the Gippsland Basin Kipper field. Exxon Mobil Corporation’s (NYSE:XOM) Australian subsidiary, Esso Australia, intends to deliver an additional 200 petajoules of gas between 2023 and 2027, as policymakers in the country warn of a potential gas shortage in eastern Australia.

As Exxon Mobil Corporation (NYSE:XOM) continues to cash in on the rising commodity prices, hedge funds became more bullish about the gas stock. Florida-based asset management firm GQG Partners increased its stake in the Texas-based oil company by 22% in Q4 2021, bringing its total holdings to over 32 million shares worth $1.98 billion. Overall, 71 of the funds tracked by Insider Monkey reported owning stakes in Exxon Mobil Corporation (NYSE:XOM) as of the end of December 2021.

Here is what Saturna Capital Amana Funds had to say about Exxon Mobil Corporation (NYSE:XOM) in its Q4 2021 investor letter: 

“Few companies maintain their position at the top for more than a decade or two. One that did was Exxon, which appeared decennially from 1980 through 2010. In 2019 it was ranked 10th, but as of writing has dropped to 39th place.”

You can also take a peek at the 10 Recession-Proof Stocks to Buy and Hold and 10 Cheap Stocks Hedge Funds Are Talking About.

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