10 Most Profitable Energy Stocks To Invest In

7. Chevron (NYSE:CVX)  

TTM Net Income: $18.72 Billion  

5-Year Net Income CAGR: 4.91%  

Number of Hedge Fund Holders: 64

Chevron (NYSE:CVX) is a leading vertically integrated company that operates globally in the oil and gas exploration, production, and refining sectors. In addition to its traditional operations, Chevron (NYSE:CVX) is also investing in green energy technologies and services, including wind, solar, and biofuels. The company has made significant strides in renewable energy, operating a 16.5 MW wind farm in Wyoming that supplies power to 13,000 homes annually and a 49 MW geothermal facility in California that powers 40,000 homes each year. Furthermore, Chevron (NYSE:CVX) distributes renewable diesel made from sources such as vegetable oils and animal fats at California terminals, offering diesel blends containing 6-20% renewable content.

In May, Chevron (NYSE:CVX) achieved a significant breakthrough by successfully running a gas turbine on a 60% hydrogen fuel blend for several days. The turbine is located adjacent to Chevron’s (NYSE:CVX) Pipeline & Power Business Unit facility in California and delivers power and steam for nearby oil fields. This advancement is crucial for reducing carbon emissions in industrial processes, such as manufacturing and data centers, and could accelerate the adoption of hydrogen technologies.

Chevron’s (NYSE:CVX)  net income has increased by a CAGR of 4.91% over the last 5 years. For the twelve months ending June 30, the company’s net income stood at $18.72 billion. Chevron (NYSE:CVX) is well-positioned to continue to dominate the energy market and deliver long-term value to shareholders. As of the second quarter, 64 hedge funds have invested $22.40 billion in the company.