Five Best Oil Stocks to Buy Now

#3 Pioneer Natural Resources (NYSE:PXD)

– Number of Hedge Fund Holders (as of December 31): 61
– Total Value of Hedge Fund Holdings (as of December 31): $3.11 billion
– Hedge Fund Holdings as Percent of Float (as of December 31): 10.20%

Count Arun Jayaram of JPMorgan as one of the Pioneer Natural Resources (NYSE:PXD) bulls. Jayaram has a $220 price target, up from the previous $196, citing Pioneer’s ‘powerful case for long-term value creation’ due to its anticipated strong production growth. Although lower crude prices could affect Pioneer in the short term, the company’s long term future still looks promising given its huge reserves and relatively competitive production costs. 61 elite funds were long Pioneer Natural Resources (NYSE:PXD) at the end of the fourth quarter, down 11 funds from the previous quarter.

#2 Halliburton Company (NYSE:HAL)

– Number of Hedge Fund Holders (as of December 31): 62
– Total Value of Hedge Fund Holdings (as of December 31): $2.31 billion
– Hedge Fund Holdings as Percent of Float (as of December 31): 4.90%

Although it didn’t successfully merge with Baker Hughes, Halliburton Company (NYSE:HAL) is still intent on expanding. According to the Norwegian paper Finansavisen, Halliburton is currently in advanced talks to buy part or all of Aker Solutions. If the deal goes through at a reasonable valuation, Halliburton management could deliver shareholder value by realizing synergies. The smart money likes the company. According to our data, the number of elite funds with holdings in Halliburton Company (NYSE:HAL) rose by 6 quarter-over-quarter to 62 at the end of December.

#1 Anadarko Petroleum Corporation (NYSE:APC)

– Number of Hedge Fund Holders (as of December 31): 64
– Total Value of Hedge Fund Holdings (as of December 31): $2.99 billion
– Hedge Fund Holdings as Percent of Float (as of December 31): 7.70%

With 64 elite funds reporting long stakes at the end of Q4, Anadarko Petroleum Corporation (NYSE:APC) is the smart money’s favorite energy stock on our list. Although shares of the stock have pulled back from their 2017 highs, analyst Charles Robertson of Cowen would be a buyer on weakness. Robertson believes management’s guidance is conservative and that the company’s joint venture with Shell Delaware could pay off. He has a $86 price target and an ‘Outperform’ rating.

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