12 Best Energy Stocks to Buy According to Billionaire Ken Fisher

2. Chevron Corporation (NYSE:CVX)

Fisher Asset Management’s Stake: $2.88 billion

Number of Hedge Fund Holders: 81

Chevron Corporation (NYSE:CVX), based in San Ramon, California, is a major American global energy company that specializes in the oil and gas industry. Founded as the Standard Oil Company of California, it is the second-largest direct descendant of Standard Oil. The firm works in more than 180 countries throughout the world.

Chevron Corporation (NYSE:CVX) announced earnings of $2.06 per share in Q4 2024, which fell short of expert forecasts. Quarterly revenues rose to $52.23 billion, a 10.7% increase over the previous year and more than $3.8 billion higher than Wall Street expected. The company also displayed financial strength in FY24, with $31.5 billion in operational cash flow and $15 billion in free cash flow.

Separately, Chevron Corporation (NYSE:CVX) disclosed on March 17 that it had purchased roughly 4.99% of Hess Corporation’s common shares, indicating confidence in the upcoming acquisition of Hess. These purchases, made between January and March 2025, supplement Chevron’s current stock repurchase program for the first quarter ending March 31, 2025.