10 Value Stocks in Ken Fisher’s Portfolio

5. Chevron Corporation (NYSE:CVX)

Fisher Asset Management Equity Stake: $2.88 Billion

Forward P/E Ratio as of April 17: 14.37

Number of Hedge Holders: 81

Chevron Corporation (NYSE:CVX) is an integrated energy company that provides crude oil, natural gas, and refined products. It also develops and markets lubricants, fuel oil additives, and chemicals. It is one of the energy plays holding steady amid the turmoil in the sector, on oil prices plunging below the $ 70-a-barrel level. On April 15, Wells Fargo reiterated a Buy rating on the stock with a $173 price target buoyed by the company’s strategic moves.

While Chevron Corporation (NYSE:CVX) is facing increased depreciation and amortization in its upstream sector and adjustments in production volumes, analysts believe the $2.3 billion acquisition of Hess stakes will act as a favorable tailwind. In the long run, Chevron intends to acquire all of Hess’s outstanding shares to strengthen its Shale footprint further. The acquisition should diversify the company’s portfolio by gaining access to an asset with industry-leading cash margins and low carbon intensity.

Chevron Corporation (NYSE:CVX) is expected to deliver non-GAAP EPS of $10.30 in FY25, up 2.5% from $10.05 in fiscal 2024. Earnings are expected to surge by 18.7% in fiscal 2026 to $12.23 per share, affirming underlying growth even as it faces headwinds amid the turmoil in the energy sector.