Bill Gates’ 5 Stock Picks with Huge Upside Potential

Below we present the list of Bill Gates’ 5 Stock Picks with Huge Upside Potential. For our methodology and a more comprehensive list please see Bill Gates’ 10 Stock Picks with Huge Upside Potential.

5. Chevron Corporation (NYSE:CVX)

Value of Bill & Melinda Gates Foundation Trust’s 13F Position: $3.63 million

Analysts’ Average Upside Estimate: 29.7%

Cracking the top five is Chevron Corporation (NYSE:CVX), which the Bill & Melinda Gates Foundation Trust owns a small stake in as of September 30. While Chevron may not seem to align with Bill Gates’ vision of a future dominated by renewable energy, the company is in fact transitioning towards that goal. Chevron is working to make its operations less carbon intensive in addition to expanding its capabilities in carbon capture, hydrogen, and other green initiatives.

Mizuho has a ‘Buy’ rating and $195 price target on Chevron Corporation (NYSE:CVX) and cites several factors in the company’s favor, including its acquisition of HES, which it expects to unlock greater synergies than initially estimated. The firm also likes Chevron’s focus on renewable energy and its strong balance sheet, through which it can steadily boost the cash it returns to shareholders.

The Carillon Eagle Growth & Income Fund noted why Chevron Corporation (NYSE:CVX) shares got dragged down in Q2 in the fund’s Q2 2023 investor letter:

“Chevron Corporation (NYSE:CVX) stock also traded lower as global oil prices declined in response to fears of an economic slowdown. Energy stocks were the second-worst-performing sector in the quarter.”