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.”
4. Halliburton Company (NYSE:HAL)
Number of Hedge Fund Holders: 43
Halliburton Company (NYSE:HAL) provides oil and gas equipment services. Latest data shows that GAMCO Investors owned more than 444,000 shares of the company at the end of the fourth quarter of 2021 worth over $10 million, representing 0.08% of the portfolio.
Halliburton Company (NYSE:HAL) has been drawing the interest of top investment firms in recent months. Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Pzena Investment Management is a leading shareholder in Halliburton Company (NYSE:HAL) with 38 million shares worth more than $883 million.
3. NewMarket Corporation (NYSE:NEU)
Number of Hedge Fund Holders: 45
NewMarket Corporation (NYSE:NEU) operates in the petroleum additives business. It is one of the top petroleum stocks on Wall Street. At the end of the fourth quarter of 2021, 45 hedge funds in the database of Insider Monkey held stakes worth $1.3 billion in NewMarket Corporation (NYSE:NEU), compared to 48 in the preceding quarter worth $774 million.
Regulatory filings show that GAMCO Investors owned 15,000 shares of NewMarket Corporation (NYSE:NEU) at the end of December 2021 worth $5.1 million, representing 0.04% of the portfolio.
2. UGI Corporation (NYSE:UGI)
Number of Hedge Fund Holders: 31
UGI Corporation (NYSE:UGI) distributes and transports energy products. Securities filings reveal that GAMCO Investors owned 100,059 shares of the company at the end of December 2021 worth $4.5 million, representing 0.03% of the portfolio.
Major hedge funds are bullish on UGI Corporation (NYSE:UGI) as energy prices rise. Among the hedge funds being tracked by Insider Monkey, New York-based investment firm First Eagle Investment Management is a leading shareholder in UGI Corporation (NYSE:UGI) with 8.6 million shares worth more than $396 million.
1. Navigator Holdings Ltd. (NYSE:NVGS)
Number of Hedge Fund Holders: 14
Navigator Holdings Ltd. (NYSE:NVGS) owns and operates a fleet of liquified natural gas carriers. Elite hedge funds hold large stakes in the company. Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Royce & Associates is a leading shareholder in Navigator Holdings Ltd. (NYSE:NVGS) with 1.1 million shares worth more than $9.7 million.
The hedge fund of Mario Gabelli entered the first quarter of 2022 with 512,001 shares of Navigator Holdings Ltd. (NYSE:NVGS) in the portfolio worth more than $4.5 million, representing 0.03% of the portfolio.
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