12 Best Battery Stocks to Buy According to Billionaires

4. Chevron Corporation (NYSE:CVX)

Number of Billionaire Investors: 14

Chevron Corporation (NYSE:CVX) is a top integrated energy company that explores, produces, refines, and markets oil and gas. The company is simultaneously expanding into lower-carbon solutions such as hydrogen and carbon capture. Its current hydrogen production reaches about 1 million tons yearly through traditional operations.

For Q4 ended December 2024, Chevron Corporation (NYSE:CVX) reported earnings of $3.2 billion ($1.84 per share). Adjusted earnings hit $3.6 billion ($2.06 per share), falling short of the expected $2.42 per share. Despite this, cash flow remained strong, funding $27 billion in shareholder returns via dividends and buybacks in 2024. While upstream earnings suffered from asset retirement obligation changes and inventory impacts, downstream earnings weakened due to below-par refining and chemical margins. The company kept its capital efficiency with an organic CapEx of $16 billion and inorganic CapEx of $530 million, maintaining a 10% net debt ratio.

Furthermore, Chevron Corporation (NYSE:CVX) advanced its hydrogen initiatives with the Lost Hills Hydrogen Project in California, its first commercial hydrogen facility. This project will use solar power and non-potable water for hydrogen production, boosting its low-carbon energy efforts. The company is also preparing for Utah’s ACES green hydrogen project, one of the world’s largest hydrogen storage ventures. It will use over 200 megawatts of electrolyzer capacity to produce and store hydrogen for power generation.

Looking ahead, Chevron Corporation (NYSE:CVX) expects stable production in 2025, backed by Permian Basin growth and LNG projects. The company is focusing on capital discipline with a $16 billion CapEx target, emphasizing hydrogen, carbon capture, and renewable fuels. Despite shifting market trends, the company remains one of the best battery stocks to look for.