5 Best Gas Stocks To Buy Now

2. Occidental Petroleum Corporation (NYSE:OXY

Number of Hedge Fund Holders: 57

Occidental Petroleum Corporation (NYSE:OXY) is yet another American hydrocarbon exploration company, with operations in the United States, the Middle East, and Columbia. The company also manufactures petrochemicals in the US, Canada, and Chile. Of its enormous gas reserves as of 2020, 30% produce natural gas, 51% petroleum, and 19% natural gas liquids. Occidental Petroleum Corporation (NYSE:OXY) is traded as a S&P 500 Component, and is one of the best gas stocks, with strong fundamentals and popular among hedge funds. 

At the end of June, 57 hedge funds were long Occidental Petroleum Corporation (NYSE:OXY), up from 52 in Q1. 

Truist analyst Neal Dingmann upgraded Occidental Petroleum Corporation (NYSE:OXY)’s rating from Hold to Buy, with a price target of $50, up from $35 on October 18. He stated that  Occidental Petroleum Corporation (NYSE:OXY) was set to experience record free cash flow from asset monetization, which would allow the company to return to 2020 level dividends soon.