n this article, we present the list of the 5 oil and gas stocks to buy according to Ken Fisher. For our methodology and a more comprehensive list, go directly to 10 Oil and Gas Stocks to Buy According to Ken Fisher.
5. Schlumberger Limited (NYSE:SLB)
Number of Hedge Fund Holders: 47
Schlumberger Limited (NYSE:SLB), which is up 22% year to date, is currently in the news after two notable stock analysis firms said that the oil field services company is set to lose ground amid the Russia-Ukraine war. According to JP Morgan, Russia accounts for about 8% of total sales for Schlumberger. Citi believes Schlumberger Limited (NYSE:SLB)’s margins in Russia are in the high teens. Both firms think that the company’s operations in the country would be affected due to the current situation.
The stock, however, saw a significant rise in hedge fund sentiment in the fourth quarter as 47 hedge funds reported owning stakes in the company at the end of December, compared to 39 funds in the previous quarter.
4. ConocoPhillips (NYSE:COP)
Number of Hedge Fund Holders: 56
ConocoPhillips (NYSE:COP) is one of the best stock picks of Ken Fisher as the share price of the Texas-based hydrocarbon exploration firm jumped close to 80% over the last six months. Ken Fisher first bought a stake in ConocoPhillips (NYSE:COP) in 2018 by adding over 300,000 shares of the company to his portfolio. At the end of December 2021, he reported owning over 6.2 million shares of the company, worth over $447 million.
Due to its attractive dividend yield and history, ConocoPhillips (NYSE:COP) is also a famous dividend stock among hedge funds. It also features on our list of dividend stock picks of famous hedge fund Crispin Odey.
ClearBridge Investments, an investment management firm, published its “Large Cap Value Strategy” third quarter 2021 investor letter and mentioned ConocoPhillips (NYSE:COP). Here‘s what the fund said:
“We also seized the opportunity to add to our position in energy producer ConocoPhillips at what we considered an attractive valuation. The market rewarded this move late in the quarter after ConocoPhillips announced its purchase of Permian Basin assets from Shell, making the company the second-largest oil and gas producer in the contiguous U.S. We view this as a positive strategic transaction for a well-run, ESG-cognizant oil producer. With this and prior transactions, the company continues to press its cost advantage and is well-positioned to benefit from ongoing energy demand recovery to pre-pandemic levels.”
3. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)
Number of Hedge Fund Holders: 26
Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR), or Petrobras, is a Brazilian oil company that is very famous among US-based hedge funds. Our data shows that 26 elite hedge funds had stakes in the company as of the end of the fourth quarter. Jim Simons’ Renaissance Technologies has a $109 million stake in the company. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) stock slipped recently after Brazil’s President Jair Bolsonaro said the company could cut profits to prevent fuel prices from exploding amid the Russia-Ukraine war.
2. BP plc (NYSE:BP)
Number of Hedge Fund Holders: 26
BP plc (NYSE:BP) is one of the most notable energy stocks to buy according to billionaire Ken Fisher. He has a $367 million stake in the company. The stock is down 16% over the last 30 days, as of March 6. BP plc (NYSE:BP) recently said that it is abandoning its stake in Rosneft amid Russia’s attack on Ukraine. Rosneft accounts for around half of BP plc (NYSE:BP)‘s oil and gas reserves.
Arrowstreet Capital of Peter Rathjens, Bruce Clarke, and John Campbell had increased its stake in BP plc (NYSE:BP) by 144% in the fourth quarter of 2021, ending the period with over 13 million shares of the company, worth $367 million.
1. Exxon Mobil Corporation (NYSE:XOM)
Number of Hedge Fund Holders: 71
Oil giant Exxon Mobil Corporation (NYSE:XOM) remains one of the most popular oil stocks among elite hedge funds and institutional investors. 71 hedge funds tracked by Insider Monkey have stakes in the company as of the end of the fourth quarter, compared to 64 funds in the previous quarter. The total value of the stakes as of the fourth quarter is $5.4 billion. Exxon Mobil Corporation (NYSE:XOM)’s CEO Darren Woods recently said that supply disruptions of crude oil from Russia could result in “significantly higher prices” in the international oil markets. The company’s CFO said that Exxon Mobil Corporation (NYSE:XOM)’s departure from Russia would affect about 1%-2% of its earnings and oil production.
Ken Fisher owns 4.8 million shares of Exxon Mobil Corporation (NYSE:XOM) as of the end of the fourth quarter. The total worth of these shares as of the end of December was $293 million.
You can also take a peek at the 10 Cryptocurrencies to Watch Amid Russia’s Attack on Ukraine and 10 Stocks to Buy Now According to Hari Hariharan’s NWI Management.
