Brazilian Billionaire Jorge Paulo Lemann Cashes in on Energy Bets

#3 Suncor Energy Inc. (USA) (NYSE:SU)

 – Shares Owned by 3G Capital (as of December 31): 3 million

 – Value of Holding (as of December 31): $77.4 million

Suncor Energy Inc. (USA) (NYSE:SU) was another new entrant in 3G Capital’s portfolio during the fourth quarter. The company lost nearly half of its market capitalization amid a rout in oil prices between mid-2014 and January this year. However, its stock managed to end the first quarter with gains of  8.26%. Suncor Energy Inc. (USA) (NYSE:SU) is one of the most financially-stable energy companies currently owing to its strong balance sheet and the large amount of cash and cash equivalents on its books. However, the company will soon be spending almost half of its available cash on its Fort Hills bitumen mine. Ahead of the company’s annual shareholder meeting on April 28, two proposals have been filed by separate shareholder groups asking the company to reveal its plans to deal with a tougher climate policy and it’s lobbying practices. On April 7, analysts at Goldman Sachs reiterated their ‘Buy’ rating on the stock and increased their price target on it to $35 from $31. With ownership of 30 million shares of the company, Warren Buffett‘s Berkshire Hathaway is Suncor Energy’s largest shareholder among the funds we track.

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