10 Best Gas Stocks to Buy According to Billionaires

5. Chevron Corporation (NYSE:CVX)

Number of Billionaire Investors: 14

Number of Hedge Fund Holders: 81

Chevron Corporation (NYSE:CVX) is an American multinational energy corporation that produces crude oil and natural gas. The company also manufactures transportation fuels, lubricants, petrochemicals, and additives. Chevron Corporation (NYSE:CVX) is investing in new technologies, renewable fuels, hydrogen, and power generation for data centers. CVX ranks among the best gas stocks to invest in.

The company is strategically focused on increasing production efficiency. In 2024, Chevron Corporation (NYSE:CVX) achieved record-breaking production levels as worldwide oil-equivalent production grew 7%, driven by an 18% growth in the Permian Basin. The company has launched significant growth projects and is actively working to increase its exploration acreage position in the Gulf of America, Angola, Brazil, Equatorial Guinea, Uruguay and Namibia. In December 2024, Chevron Corporation (NYSE:CVX) achieved first gas on the Sanha Lean Gas Connection project to successfully secure incremental natural gas supply to the Angola Liquefied Natural Gas facility. In January 2025, Chevron Corporation (NYSE:CVX) started oil production at its Future Growth Project (FGP) located at the Tengiz oil field in Kazakhstan, which is expected to ramp up total output to around 1 million barrels of oil-equivalent per day.

The company also strengthened its portfolio and closed asset sales in Canada, the Republic of Congo, and Alaska. Chevron Corporation (NYSE:CVX) aims to achieve $2-3 billion in cost reductions by 2026. Notably, the company returned over $15 billion to shareholders through share buybacks in 2024.