In this article, we discuss the 5 oil and gas stocks to buy in billionaire Steve Cohen’s portfolio. If you want to read our detailed analysis of Steve Cohen’s history, investment philosophy, and hedge fund performance, go directly to the 10 Oil and Gas Stocks in Billionaire Steve Cohen’s Portfolio.
5. BP p.l.c. (NYSE:BP)
Point72 Asset Management’s Stake Value: $46.31 million
Percentage of Point72 Asset Management’s 13F Portfolio: 0.2%
Number of Hedge Fund Holders: 29
BP p.l.c. (NYSE:BP) is a British oil and gas company formerly known as The British Petroleum company. It is one of the world’s seven “supermajors” in the oil and gas industry. The company works across all major sectors of the oil and gas industry including exploration, extraction, refining, distribution, and power generation in around 80 countries across the globe.
At the end of the third quarter of 2021, Ken Fisher’s Fisher Asset Management holds the highest position in BP p.l.c. (NYSE:BP) with 12.635 million shares worth $345.32 million. Additionally, Point72 Asset Management owned 1.69 million shares of the company worth $46.31 million, representing 0.2% of the fund’s portfolio. Point72 Asset Management also increased its activity in BP p.l.c. (NYSE:BP) by 161% in the third quarter of 2021.
BP p.l.c. (NYSE:BP) recently stepped into the global “net-zero emissions by 2050” race after announcing to acquire Amply Power, an EV charging, and energy infrastructure, provider. The amount for the acquisition of Amply Power has not been disclosed yet.