Brazilian Billionaire Jorge Paulo Lemann Cashes in on Energy Bets

#4 Chevron Corporation (NYSE:CVX)

 – Shares Owned by 3G Capital (as of December 31): 700,000

 – Value of Holding (as of December 31): $63 million

3G Capital initiated a stake in Chevron Corporation (NYSE:CVX) during the third quarter of 2015 and boosted it by 133% during the fourth quarter.  Ken Griffin‘s Citadel Investment Group was another fund that raised its holding company significantly during the fourth quarter, by 93% to 375,855 shares. Chevron Corporation (NYSE:CVX)’s stock ended the first quarter with gains of 7.4%, but is still way below the technical $100 mark it fell below last June. The company recently announced that due to mechanical problems it will be temporarily shutting down Gorgon LNG plant in Australia. Though this will hurt the company’s financial results this quarter, analysts believe that it will also help in raising in LNG prices due to the deficit in supply. With the demand for LNG set to double in the next 15 years, Chevron Corporation (NYSE:CVX) has been making considerable efforts in the last few quarters to ramp up its LNG production. The company has also been trying to deleverage its balance sheets through the sale of non-core assets. According to recent reports, several global energy companies are currently preparing to bid for Chevron Corporation’s  geothermal energy blocks in Asia, which are valued at around $3 billion.