After Russia, Iran, Qatar, and Turkmenistan, the United States holds the world’s fifth-largest natural gas reserves. According to the US Department of Energy, natural gas has been the largest source of electricity generation in the US for the past three years. The COVID-19 outbreak wreaked havoc on the oil and gas industries around the world. Natural gas stockpile levels in the United States are lower than the five-year average. Globally, rising demand has resulted in skyrocketing gas prices, not just in the United States. Winter weather will cause gas prices to fluctuate in the coming months. Hedge funds are currently heavily invested in oil and gas stocks due to increased demand. ConocoPhillips, Exxon Mobil Corporation, Chevron Corporation, and Devon Energy Corporation are among the best-performing stocks as of the conclusion of the second quarter.
Insider Monkey delves into the 10 best gas stocks to buy now. Ovintiv Inc. takes pride in utilizing cutting-edge technology, innovation, a diverse portfolio, and top-tier personnel. At the end of the second quarter, 40 hedge funds had $739.2 million in investments. Since 2019, EQT Corporation has been the top gas producer in the Appalachian Basin. The company specializes in the distribution of petroleum, natural gas, and natural gas liquids. At the end of June, 43 hedge funds tracked by Insider Monkey were positive on EQT Corporation. Since 1989, Chesapeake Energy Corporation has been a hydrocarbon exploration firm in the American energy sector. Natural gas and oil deposits in key locations across the United States are part of the company’s asset portfolio, with main operational facilities in Louisiana, Wyoming, Texas, and Pennsylvania. Pione Natural Resources Firm is a natural gas company established in Texas that operates in the Cline Shale. The corporation produces natural gas, petroleum, and natural gas liquids, engaging in hydrocarbon exploration. On the company’s shares, analyst Mark Lear boosted his price objective from $222 to $254. Cheniere Energy, Inc. is the largest LNG provider in the United States and the world’s second largest. It makes use of modern energy infrastructure to provide clean, long-term energy. Local offices are located in Texas and Louisiana, and worldwide offices are located in London, Beijing, Singapore, and Tokyo. For more details, click 10 Best Gas Stocks To Buy Now.
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