10 Low Volatility Stocks to Buy According to Billionaire Ken Fisher

6. Chevron Corporation (NYSE:CVX)

Beta Value: 0.93

Dividend Yield: 4.15%

Fisher Asset Management’s Q4 Stake: $2.88 billion

Number of Hedge Fund Holders: 81

Chevron Corporation (NYSE:CVX) is a renowned American global energy company that focuses on the oil and gas industry. It was founded as the Standard Oil Company of California and is the second-largest direct descendant of Standard Oil. The company operates in over 180 countries throughout the world.

On March 7, Goldman Sachs analyst Balaji Krishnamurthy reaffirmed Chevron Corporation’s (NYSE:CVX) Buy rating and set a price target of $183 on the company’s shares. One of the primary reasons for the rating is the anticipated rise in production and free cash flow, notably from critical projects like Tengiz in Kazakhstan, the Permian Basin, and the Gulf of America. These projects are expected to dramatically increase Chevron’s production capacity and generate an additional $10 billion in free cash flow by 2026. Furthermore, Chevron’s commitment to shareholder returns is critical. The firm expects to achieve a capital returns yield of around 12% by 2026.

Chevron Corporation (NYSE:CVX) reported a solid performance in Q4 2024, raking in $3.2 billion, up from $2.3 billion in 2023. Full-year 2024 production also hit new highs, with a 7% increase in global output and a significant 19% increase in US production, owing mostly to the company’s growth in the Permian Basin. This achievement allowed the company to repay a record $27 billion to shareholders via dividends and buybacks.