5 Best Oil Stocks To Buy According To Hedge Funds

2. Occidental Petroleum Corporation (NYSE:OXY)

Number of Hedge Fund Holders: 57    

Occidental Petroleum Corporation (NYSE:OXY) is placed second on our list of 10 best oil stocks to buy according to hedge funds. The firm acquires, explores, and develops natural gas and oil properties. It is headquartered in Texas. 

On September 29, investment advisory Evercore ISI upgraded Occidental Petroleum Corporation (NYSE:OXY) stock to Outperform from In Line and raised the price target to $40 from $35, noting the stock was an opportunity to play the next upcycle in energy. 

At the end of the second quarter of 2021, 57 hedge funds in the database of Insider Monkey held stakes worth $3.6 billion in Occidental Petroleum Corporation (NYSE:OXY), up from 52 the preceding quarter worth $3.4 billion.