Why Chipotle, Baidu, Cempra, and More Are in the Spotlight

Oil super-majors Total SA (ADR) (NYSE:TOT) and BP plc (ADR) (NYSE:BP) are in the spotlight after the Oil and Gas Climate Initiative (OGCI), of which both companies are part of, announced an investment of $1 billion over the next decade to develop and accelerate the commercial deployment of low emissions technologies. Among one of the initiative’s goals will be to ‘identify ways to cut the energy intensity of both transport and industry’. Given that companies like Toyota have now pivoted into electric vehicles (which don’t use petroleum at all), the crude oil producers feel that energy efficiency/low emissions is their best bet in terms of adjusting to the new environment.

Both stocks are in the green today due to Brent prices rising on the hopes that OPEC will get its act together and work out a practical production cut plan. Of the 749 top funds that we track which filed 13Fs for the June quarter, 40 were long BP plc (ADR) (NYSE:BP) at the end of June, while 16 owned shares of Total SA (ADR) (NYSE:TOT).

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