Top 12 Oil and Gas Stocks To Invest In According to Hedge Funds

6. Cheniere Energy, Inc. (NYSE:LNG) 

Number of Hedge Fund Holders: 62

Headquartered in Texas, Cheniere Energy, Inc. (NYSE:LNG) is the largest producer of LNG in the United States and the second-largest LNG operator in the world. Although the company began operations only in 2016, its energy infrastructure already represents a more than $38 billion investment in the future of energy.

In Q3 2024, Cheniere Energy, Inc. (NYSE:LNG) reported a decline in revenues and profits amid decreased market volatility and lower international LNG and natural gas prices. The company posted a revenue of $3.76 billion, down by 9.52% YoY and missing the analysts’ estimates by $9.52 million. Net income also nearly halved to $893 million, down from $1.7 billion in the same period last year. During the quarter, Cherniere also repurchased shares worth $282 million and increased its quarterly dividend by approximately 15% to $0.5 per share.

Cheniere Energy, Inc. (NYSE:LNG) is investing heavily to expand its LNG production capacity, and one of its most significant growth initiatives is the Corpus Christi Stage 3 expansion project, which was 68% complete at the end of Q3, and ahead of schedule. The new LNG export facility, which has already received regulatory approval, is nearing the commencement of operations and will produce around 10 million tonnes per annum of liquefied natural gas.

Though the declining international LNG and gas prices have been weighing it down Cheniere Energy, Inc. (NYSE:LNG) remains upbeat about long-term LNG demand, especially in China. The country’s demand for natural gas is set to jump by more than 50% by 2040, and LNG will represent 25%-30% of this total, according to Yingying Zhou, director of LNG origination at Cheniere.

At the end of Q3 2024, 62 hedge funds tracked by IM held shares of Cheniere Energy, Inc. (NYSE:LNG), with Millennium Management holding the largest stake of more than 2.3 million shares worth over $416.1 million.