Citadel Stock Holdings: 5 Biggest Energy Stocks

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1. Chevron Corporation (NYSE:CVX)

Value of Citadel Investment Group’s 13F Position: $253 million

Number of Hedge Fund Shareholders: 68

Topping the list of Citadel’s biggest energy holdings is Chevron Corporation (NYSE:CVX), which is also a favored energy stock of industry titans like Warren Buffett and Ken Fisher. Citadel raised its stake in CVX by 290% during Q3, elevating its share count to 1.76 million. There’s been a 55% jump in hedge fund ownership of Chevron since early 2021, with the stock hitting an all-time high on that front during the latest quarter.

Buffett, Fisher, and Griffin are likely big fans of Chevron Corporation (NYSE:CVX) due to the breadth of its upstream and downstream operations, which insulates it from oil price fluctuations like few other energy stocks. The company also has one of the strongest balance sheets in the industry and pays out a healthy dividend that yields 3.16%. Chevron’s net income grew by 175% year-over-year during the first nine months of 2022 to hit $29 billion, and the company appears poised for another strong showing in 2023.

The Diamond Hill Long-Short Fund noted Chevron Corporation (NYSE:CVX) as one of its top Q1 contributors in its Q1 2022 investor letter:

“Other top contributors in Q1 included multinational energy company Chevron Corp. (NYSE:CVX). The company benefited from increased energy demand as COVID-related economic restrictions eased in tandem with concerns regarding supply interruptions related to Russia’s invasion of Ukraine.”

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