In this article, we will discuss the 5 energy stocks to buy according to Steve Pattyn’s Yaupon Capital. If you want to read our detailed analysis of Pattyn’s history, investment philosophy, and hedge fund performance, go directly to the 10 Energy Stocks to Buy According to Steve Pattyn’s Yaupon Capital.
5. Equitrans Midstream Corporation (NYSE:ETRN)
Yaupon Capital Stake Value: $4,255,000
Percentage of Yaupon Capital’s 13F Portfolio: 2.35%
Number of Hedge Fund Holders: 27
Equitrans Midstream Corporation (NYSE:ETRN) focuses on gas collecting networks, transmission and storage systems, and water services assets that support natural gas producers.
In November, the company declared earnings for the third quarter of 2021. Equitrans Midstream Corporation (NYSE:ETRN) posted revenue of $342.07 million, down 2.3% YoY, missing the estimates by $6.64 million. The business anticipates a net income of $275 million to $295 million in FY21. In September, BofA analyst Chase Mulvehill reinstated coverage of Equitrans Midstream Corporation (NYSE:ETRN), rating the stock as “Neutral” and gave a price target of $11.
In October, the company’s board announced a quarterly dividend of $0.15 per share, in line with the previous.
4. Par Pacific Holdings, Inc. (NYSE:PARR)
Yaupon Capital Stake Value: $4,690,000
Percentage of Yaupon Capital’s 13F Portfolio: 2.59%
Number of Hedge Fund Holders: 20
Par Pacific Holdings, Inc. (NYSE:PARR) is an oil and gas exploration and production business in Houston. The hedge fund managed by Steve Pattyn owns 278,817 shares in the company worth $4.69 million, representing close to 2.59% of their portfolio. In addition, Yaupon Capital has trimmed its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 30% in the second quarter of 2021.
On November 3, Par Pacific Holdings, Inc. (NYSE:PARR) reported its financial results for the quarter ended September 30, 2021. The company posted an EPS of $0.76, beating the consensus by $0.15. The revenue over the period stood at $1.31 billion, up 89.9% YoY. In October, Goldman Sachs analyst Carly Davenport reiterated a “Buy” rating on Par Pacific Holdings, Inc. (NYSE:PARR) and gave a price target of $20.
Par Pacific Holdings, Inc. (NYSE:PARR) was in 20 hedge funds’ portfolios at the end of the second quarter of 2021, down from 25 in the previous quarter.
3. Crestwood Equity Partners LP (NYSE:CEQP)
Yaupon Capital Stake Value: $5,996,000
Percentage of Yaupon Capital’s 13F Portfolio: 3.31%
Number of Hedge Fund Holders: 7
Crestwood Equity Partners LP (NYSE:CEQP) is engaged in the investment and management of energy midstream assets.
In September, the company agreed to buy Oasis Midstream Partners LP (NASDAQ:OMP) for $1.8 billion in cash and shares, including debt assumption. In October, Crestwood Equity Partners LP (NYSE:CEQP) declared third-quarter financial results. It posted revenue of $1.22 billion, presenting a 135.0% year-over-year growth.
In October, Truist analyst Neal Dingmann lifted his price target on Crestwood Equity Partners LP (NYSE:CEQP) to $168 from $160, with a “Buy” rating on the shares.
As of Q2 2021, 7 hedge funds tracked by Insider Monkey have positions in Crestwood Equity Partners LP (NYSE:CEQP), valued at $15.76 million. Out of the hedge funds being tracked by Insider Monkey, Steve Pattyn’s Yaupon Capital is a leading shareholder in the company with 200,000 shares worth $6 million.
2. Cimarex Energy Co. (NYSE:XEC)
Yaupon Capital Stake Value: $6,646,000
Percentage of Yaupon Capital’s 13F Portfolio: 3.67%
Number of Hedge Fund Holders: 36
Cimarex Energy Co. (NYSE:XEC) is an American energy firm that specializes in hydrocarbon exploration, particularly shale oil and gas drilling. Cimarex Energy Co. (NYSE:XEC) operates primarily in the Permian Basin and the Anadarko Basin in Western Oklahoma.
Coterra Energy (NYSE:CTRA) is the new company formed by the merger of Cimarex Energy Co. (NYSE:XEC) and Cabot Oil & Gas Corporation. On November 3, Coterra Energy Inc. posted third-quarter results. The company’s EPS was $0.16, missing the estimates by $0.33. Revenue over the period was $440.39 million, up 51.3% YoY. In October, US Capital Advisors upgraded Coterra Energy to “Overweight” from “Hold” and gave a price target of $32.
According to the firm’s analyst, the merged business will trade at a reasonable price.
1. Suncor Energy Inc. (NYSE:SU)
Yaupon Capital Stake Value: $6,951,000
Percentage of Yaupon Capital’s 13F Portfolio: 3.84%
Number of Hedge Fund Holders: 32
Suncor Energy Inc. (NYSE:SU) is an integrated energy firm that develops petroleum resource basins.
In October, Suncor Energy Inc. (NYSE:SU) posted a third-quarter 2021 earnings report. The company revealed that it had earned C$10.21 billion in revenue, missing the estimates by C$120 million. Suncor Energy Inc.’s (NYSE:SU) largest shareholder is Stephen J. Errico’s Locust Wood Capital Advisers, owning $45.18 million equity through 2.18 million shares.
During the second quarter of 2021, Mr. Pattyn’s Yaupon Capital held 290,200 shares of Suncor Energy Inc. (NYSE:SU) in a stake that equaled $6.95 million and represented 3.84% of the overall portfolio. Simultaneously, 32 of the 873 hedge funds polled by Insider Monkey had holdings in the solar company worth $1.12 billion.
You can also take a peek at 10 Energy Stocks that Pay Monthly Dividends and 15 Best Clean Energy Stocks to Invest In
