11 Best Natural Gas Stocks To Buy Now

4. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 63

Chevron Corporation (NYSE:CVX) manufactures and sells a range of high-quality refined products, including gasoline, diesel, marine and aviation fuels, premium base oil, finished lubricants, and fuel oil additives. The company owns five US fuel refineries and has a network of Chevron and Texaco service stations.

Chevron Corporation (NYSE:CVX)’s heavy investments in its fossil fuel portfolio are paying off and the oil and gas major produced a record 3.3 million barrels of oil equivalent per day in 2024, 7% more than the previous year. The company also started up several key projects, including the industry-first, high-pressure Anchor project in the Gulf of America. Chevron delivered an operating cash flow of $31.5 billion and repurchased over $15 billion of its shares in 2024, extending its track record of repurchasing shares in 17 out of the last 21 years. The company also announced a 5% increase in its quarterly dividend to $1.71 per share, marking the 38th consecutive year with an annual increase in dividend payment per share.

Chevron Corporation (NYSE:CVX) is aiming for $2-3 billion of structural cost reductions by the end of next year. The company recently announced that it plans to slash its workforce by as much as 20% (around 9,000 layoffs) by the end of 2026, a move that it deems necessary ‘to improve the long-term competitiveness of the company for its people, its shareholders, and its communities’.