5 Oil Stocks with Biggest Upside

2. Hess Corporation (NYSE:HES)

Number of Q4 2023 Hedge Fund Shareholders: 74

Share Price Performance Since March 2022: 49.27%

Hess Corporation (NYSE:HES) is a diversified American oil and gas firm with operations in Guyana, Canada, and other countries. It’s the highest performing stock on our list of the oil stocks with the highest upside, as the shares are helped no doubt by Chevron’s intent to buy the company. However, as recent events have suggested, the deal might not close.

Insider Monkey scoured through 933 hedge fund holdings for 2023’s December quarter and found that 74 had held a stake in the firm. Hess Corporation (NYSE:HES)’s largest hedge fund investor is Phill Gross and Robert Atchinson’s Adage Capital Management through its $624 million investment.

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