5 Oil and Gas Stocks to Buy According to Mario Gabelli

In this article, we discuss the 5 oil and gas stocks to buy according to Mario Gabelli. If you want to read our detailed analysis of these stocks, go directly to the 10 Oil and Gas Stocks to Buy According to Mario Gabelli.

5. ONEOK, Inc. (NYSE:OKE)

Number of Hedge Fund Holders: 25    

ONEOK, Inc. (NYSE:OKE) is an oil and gas storage and transportation firm. Hedge funds have been loading up on the stock. At the end of the fourth quarter of 2021, 25 hedge funds in the database of Insider Monkey held stakes worth $94 million in ONEOK, Inc. (NYSE:OKE), up from 18 in the preceding quarter worth $124 million.

According to the latest filings, GAMCO Investors owned over 187,000 shares of ONEOK, Inc. (NYSE:OKE) at the end of the fourth quarter of 2021 worth $11 million, representing 0.09% of the portfolio. 

In its Q3 2021 investor letter, Miller Howard Investments, an asset management firm, highlighted a few stocks and ONEOK, Inc. (NYSE:OKE) was one of them. Here is what the fund said:

”In late August, we increased the portfolio’s cyclical exposure by trimming utilities after a period of relative outperformance and reallocating the capital to midstream energy, which had pulled back over the summer. We added ONEOK Inc. (OKE) with the expectation that it will benefit from increasing natural gas and natural gas liquids (NGL) recovery in the Bakken region.”