5 Best Oil and Energy Stocks To Buy Now

2. Magellan Midstream Partners, L.P. (NYSE: MMP)

Number of Hedge Fund Holders: 22

Tulsa, Oklahoma-based Magellan ranks 2nd on the list of 10 best oil and energy stocks to buy now. The company operates ammonia and petroleum pipelines. It has over 80 petroleum products terminals. The stock has gained over 31% over the last 12 months. The company recently posted a decent quarter and said it expects a recovery in the first half of 2021.

The company is also getting the attention of the smart money, as 22 hedge funds tracked by Insider Monkey reported owning stakes in the company at the end of the fourth quarter, up from 20 funds a quarter earlier.