5 Energy Stocks to Buy According to Billionaire Bruce Kovner’s Caxton Associates

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1. Chesapeake Energy Corporation (NASDAQ:CHK)

Caxton Associates’ Stake Value: $3,844,000

Percentage of Caxton Associates’ 13F Portfolio: 0.42%

Number of Hedge Fund Holders: 44

Chesapeake Energy Corporation (NASDAQ:CHK) is a notable energy stock in billionaire Bruce Kovner’s Caxton Associates’ portfolio. The hedge fund increased its stake by 346% in Chesapeake Energy Corporation (NASDAQ:CHK) during the third quarter, holding 62,405 shares of the company, worth $3.84 million. The stock accounts for 0.42% of the firm’s total Q3 investments. 

Chesapeake Energy Corporation (NASDAQ:CHK) is an Oklahoma-based energy company specializing in hydrocarbon exploration, natural gas, and petroleum. 

In the third quarter earnings report of Chesapeake Energy Corporation (NASDAQ:CHK), announced on November 2, the company posted an EPS of $2.38, exceeding estimates by $0.70. The $1.17 billion revenue surpassed estimates by $360.83 million. 

Johnson Rice analyst Charles Meade upgraded Chesapeake Energy Corporation (NASDAQ:CHK) on December 13 to Buy from Accumulate with an unchanged price target of $115.

Oaktree Capital Management is the biggest Chesapeake Energy Corporation (NASDAQ:CHK) stakeholder as of Q3 2021, with almost 12 million shares of the company, worth $735.3 million. Overall, 44 hedge funds were bullish on the stock at the end of September. 

You can also take a look at Ark Invest Stock Portfolio: Top 10 Picks and Top 10 Stock Picks of Rajiv Jain’s GQG Partners

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