In this article, we take a look at Ken Fisher's top 15 energy stocks. If you want to skip our introduction to the billionaire head of the hedge fund and energy industry, skip ahead toThe top five options for energy stocks according to Ken Fisher.
This year has been a reality check for the energy industry after record profits last year due to the shock to the oil supply chain caused by the Russian invasion of Ukraine. Large and small oil companies posted record profits last year. The profit leader of Big Oil and the oil industry in 2022 will be US giant Exxon Mobil Corporation (NYSE:XOM), which generated a huge profit of $59 billion and set a new profit record for any Western oil company. In second, third, fourth and fifth place are Shell plc (NYSE:SHEL), Chevron Corporation (NYSE:CVX), TotalEnergies SE (NYSE:TTE) and BP p.l.c. (NYSE:BP), which earned $39.9 billion, $36.5 billion, $36.2 billion and $27.7 billion, respectively. This allowed Shell to set a new profit record in its centuries-long history, and the oil giants collectively earned a whopping $ 200 billion.
These gains also translated into attractive shareholder rewards: oil companies paid out as much as $110 billion to investors in the form of dividends and share buybacks. In addition, Europe's rapid diversification from Russian gas to other sources also led Norway's state-owned oil and gas company Equinor ASA (NYSE:EQNR) to double its revenues to $74.9 billion last year. It's safe to say that 2022 was a year that neither the oil companies nor the consumers hit by record pump prices will ever forget.
Looking ahead to 2023, it looks like Big Oil is facing the reckoning. In the second quarter of 2023, Shell and TotalEnergys saw painful profit declines of 56% and 49% respectively. Nevertheless, Total was able to further increase profits in the second quarter of 2021, while Shell's results remained at the level of profits from the same period. Equinor took an even sharper drop as Q2 earnings fell 57% year-on-year, but none could match BP's turmoil as the British oil giant saw its profits fall 70%. This trend is also present among smaller US oil exploration, production and equipment companies. When it comes to stock price behavior this year, almost all of the worst performing companies this year are those that provide production equipment to oil companies or have interests in oil producing properties. For more information you can referThe 15 worst performing energy companies in 2023.
So if your preferred investment segment is energy, now may be the optimal time to buy stocks. By way of introduction, energy stocks tend to thrive in a strong economic environment, as stronger corporate growth and greater disposable income naturally lead to greater demand for their products. An easy way to check stock is to watch what the pros do.
One such specialist whose decades of stock market experience have given him extraordinary insight into the markets is none other than billionaire Ken Fisher ofinvestment in fisheries. Mr. Fisher is one of the richest men in the world, and his recent fortune is estimated at an impressive amount.$6.8 billion. He is also one of the few financial gurus who didcorrectly predictedLast year October was the start of the bull market. Most analysts at the time feared a recession. He was still the wise guru he was earlier this year when he defied the panic trend in the USin the midst of a regional banking crisisjaccentuatedso that the risk of contamination is minimal.
Given the current uncertainty about the stock market's future for the remainder of the year, Mr. Fisher returns with his wisdom. He is still an optimist, at which he excelslatest video:
So the reality is that sentiment is in line with the ongoing bull market. We are no longer pessimists, but far from optimistic. We have ways to escape. In the long run, economics and reality matter in the market. And as Ben Graham said, “In the short run, the market is a voting machine. In the long run, it's a weighing machine." This long-term perspective weighs these real things. In the short run, it's more of an election-like voting machine that's really about who you like and what you're afraid of. It's more about your emotions and feelings It's important to focus on this part of the feeling It's now a category no matter what subsets you look at the market Newsletters, retirement plans, large private investors and money managers are all in the skeptical phase That being said we should keep in mind Warren Buffett's famous saying, "We should be afraid when others are greedy, and greedy when others are afraid. And now people aren't too greedy. So you should be too."
Some of the top energy companies selected by Ken Fisher include TotalEnergys SE (NYSE:A), Chevron Corporation (NEW EXCHANGE:CVX) and Shell plc (NEW EXCHANGE:SHELL).
To compile our list of Ken Fisher's top energy companies, we reviewed the most recent Fisher Investments SEC filings, which detail the company's investments through the second quarter of 2023. The main energy companies are listed below.
15. PDC Energy, Inc. (NASDAQ:PDCE)
Fisher Investments share in Q2 2023: $78.7 million
PDC Energy, Inc. (NASDAQ:PDCE) is an American oil and gas exploration and production company headquartered in Denver, Colorado. The company has offices in Colorado and Texas. The company underestimated analysts' earnings estimates for the second quarter, but the company still holds an average buy rating.
In the second quarter of 2023, Ken Fisher's Fisher Investments owned 1.1 million shares of PDC Energy, Inc. (NASDAQ:PDCE) for a $78.7 million stake. During the same period, 35 of the 910 funds Hedge agents that are part of the Insider Monkey Database group also bought the company. shares, of which Robert Emil ZoellnerAlpine companionsis the largest investor with a $131 million package.
Together with Chevron Corporation (NYSE:CVX), TotalEnergys SE (NYSE:TTE) and Shell plc (NYSE:SHEL), PDC Energy, Inc. (NASDAQ:PDCE) is one of Ken Fisher's favorite energy companies.
14. Halliburton Company (NEW EXCHANGE:HAL)
Fisher Investments share in Q2 2023: $82.9 million
Halliburton Company (NYSE:HAL) is a provider of oil and gas equipment and services. Despite the turmoil in the oil sector, the company's well-diversified business model has enabled it to beat earnings analysts' expectations for the past four quarters.
After examining 910 hedge funds for investments in the June 2023 quarter, Insider Monkey found that 39 had invested in the company. The largest shareholder of Halliburton Company (NYSE:HAL) in our database is Richard S. Pzena.Pzena Asset Managementbecause it owns 7.4 million shares worth $244 million.
13. Devon Energy Corporation (NEW EXCHANGE:DVN)
Fisher Investments share in the second quarter of 2023: $85.1 million
Devon Energy Corporation (NYSE:DVN) is an oil and gas exploration and production company with operations in several U.S. states. At the end of the second quarter of this year, Fisher's investment company owned shares in that company worth $85 million.
In addition, 45 of the 910 hedge funds surveyed by Insider Monkey also bought Devon Energy Corporation (NYSE:DVN). Of these, the largest investor is Donald Yacktman.Yacktman Asset Managementthrough shares worth $145 million.
12. Marathon Oil Corporation (NYSE:MRO)
Fisher Investments share in the second quarter of 2023: $106.6 million
Marathon Oil Corporation (NYSE:MRO) is a Texas-based company that produces and markets oil and gas. The company has weathered the industry storm so far, beating analyst earnings expectations for the past four quarters. It is of course no surprise that the stock has an average buy valuation.
In June of this year, Ken Fisher's Fisher Investments owned $106.6 million in Marathon Oil Corporation (NYSE:MRO). Including him, 43 of the 910 hedge funds surveyed by Insider Monkey also invested in the company. The largest hedge fund investor at Marathon Oil Corporation (NYSE:MRO) is Steve CohenPoint72 asset managementbecause he invested $136 million.
11. Woodside Energy Group Ltd (OTCMKTS:WOPEF)
Fisher Investments share in the second quarter of 2023: $126.6 million
Woodside Energy Group Ltd (OTCMKTS:WOPEF) is an Australian oil and gas company headquartered in Perth, Australia. The company is currently negotiating with unions over wages at Australia's largest liquefied natural gas plant, which has also sparked turmoil in European LNG markets.
Ken Fisher's Fisher Investments is the largest hedge fund investor in Woodside Energy Group Ltd (OTCMKTS:WOPEF) in our database with 5.4 million shares worth $126.6 million.
10. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)
Fisher Investments share in the second quarter of 2023: $259.3 million
Petroleo Brasileiro SA – Petrobras (NYSE:PBR) is a Brazilian state-owned oil company and the largest such company in the country. Despite its size, the company plans to increase capital expenditure by 10% over the next five years to meet Brazil's growing energy needs.
Insider Monkey examined the portfolios of 910 hedge funds for their contents in the June 2023 quarter and found that 33 in Petróleo Brasileiro S.A. invested. – Petrobras (NYSE:PBR). Of these, Rajiv Jain is the largest shareholder in the company.GQG-partnersbecause he owns stock worth $2,900 million.
9. Schlumberger Limited (NYSE:SLB)
Fisher Investments share in Q2 2023: $380.8 million
Schlumberger Limited (NYSE:SLB) is an oil and gas company that provides governance and other services to energy companies. Like Halliburton, it has consistently outperformed analyst earnings expectations over the past four quarters, and the stock has an average "Strong Buy" rating.
Mr. Fisher's investment firm owns $380 million in the firm as of June 2023, and a total of 60 of the 910 hedge fund portfolios surveyed by Insider Monkey have invested in Schlumberger Limited (NYSE:SLB). Rajiv JainGQG-partnersamong them, he is the largest investor in the company, with shares worth $1.6 billion.
8. Hess Corporation (NEW EXCHANGE:HE IS)
Fisher Investments share in the second quarter of 2023: $429.4 million
Hess Corporation (NYSE:HES) is a global oil and gas exploration and production company with operations in the US, Malaysia, Thailand and Canada. In its second-quarter earnings report, the company had good news for investors by raising its 2023 oil production forecast.
In the second quarter of 2023, 52 of the 910 hedge funds surveyed by Insider Monkey had interests in an oil company. The largest hedge fund shareholder in Hess Corporation (NYSE:HES) is Fisher Investments, with a $429 million stake.
7.BP Limited Liability Company (NYSE:ANNUAL)
Fisher Investments share in the second quarter of 2023: $622.4 million
BP plc (NYSE:BP) is one of the largest oil companies in the world. The changing dynamics in the oil industry last year prompted the company to change its emissions reduction plan, sparking outrage among climate activists.
An Insider Monkey survey conducted in June 2023 of 910 hedge funds found that 36 of them were BP plc. (NYSE:BP). Peter Rathjens, Bruce Clarke, and John CampbellChair PijlstraatHe is the company's largest shareholder, with 21.4 million shares worth $756 million.
6. Exxon Mobil Corporation (NEW EXCHANGE:XOM)
Fisher Investments share in the second quarter of 2023: $711.3 million
Exxon Mobil Corporation (NYSE:XOM) is another oil giant whose profits have fallen significantly this year as the oil industry collapses after record profits last year. The company's stock still carries an average Buy rating, with Morgan Stanley's most recent Overweight recommendation in August 2023.
In the second quarter of 2023, 71 of the 910 hedge funds in the Insider Monkey database invested in the oil giant. The largest shareholder of Exxon Mobil Corporation (NYSE:XOM) is Jean-Marie EveillardFirst Eagle Investment Managementwith a share of USD 1400 million.
TotalEnergys SE (NYSE:TTE), Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), and Shell plc (NYSE:SHEL) are some of the largest energy companies in Ken Fisher's Q2 2023 investment portfolio .
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Disclosure: None.Ken Fisher's top 15 energy stockswas originally published in Insider Monkey.