10 Best Commodity Stocks to Invest in According to Hedge Funds

6. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Investors: 63

Chevron Corporation (NYSE:CVX) is a global energy company headquartered in the United States. The company is engaged in the exploration, production, and refining of oil and natural gas. The company also invests in renewable energy. Chevron Corporation (NYSE:CVX) sells fuels, lubricants, and petrochemicals to both industrial and retail customers worldwide.

Chevron Corporation (NYSE:CVX) is advancing several key projects aimed at driving production and cash flow growth in the coming years. The company’s high-pressure Anchor project in the Gulf of Mexico is now operational, with water injection underway to enhance production at the Jack/St. Malo and Tahiti fields. These initiatives, along with additional projects scheduled through 2025, are projected to increase Gulf of Mexico production to 300,000 barrels per day by 2026.

Chevron Corporation (NYSE:CVX) is also making substantial investments in technology and digital tools to improve productivity and reduce costs. The company has been focused on portfolio optimization and is utilizing technology to enhance productivity and transform how and where work is performed. These efforts are expected to result in $2 billion to $3 billion in structural cost reductions by the end of 2026. Additionally, Chevron Corporation (NYSE:CVX) is actively managing its capital spending to ensure it remains disciplined and aligned with its financial priorities.