Top 5 Oil and Gas Stocks to Invest In
No of Hedge Fund Holders: 40
Total Value of Hedge Fund Holdings: $685 Million
Ranking 5th on the list of top 10 oil and gas stocks to invest in is Pioneer Natural Resources. The Irving, Texas-based hydrocarbon exploration company operates the largest acreage in the Cline Shale. This month, the company acquired leasehold rights and associated properties of DoublePoint Energy (DoublePoint) in a deal valued at approximately $6.4 billion. The agreement also entails the shouldering of around $900 million in DoublePoint Energy’s debt and liabilities.
The company has a market cap of $31.6 billion and a revenue of $6.7 billion in 2020. Shares of PXD surged 98% over the past twelve months. Hedge fund interest in Pioneer Natural Resources fell at the end of last quarter. The number of long hedge fund bets declined by one lately. Mattel, Inc. was in 40 hedge funds’ portfolios at the end of the fourth quarter of 2020 compared to 42 positions in the previous quarter.