5 Best American Energy Stocks To Buy Now

2. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 73

Oil giant Chevron Corporation (NYSE:CVX) is one of the best American energy stocks to buy now according to hedge funds. Recently, Mizuho upped its price target on Chevron Corporation (NYSE:CVX) to $215 from $209 and gave a Buy rating to the stock.

As of the end of the second quarter of 2023, 73 hedge funds tracked by Insider Monkey had stakes in Chevron Corporation (NYSE:CVX).

Carillon Eagle Growth & Income Fund made the following comment about Chevron Corporation (NYSE:CVX) in its Q2 2023 investor letter:

“Chevron Corporation (NYSE:CVX) stock also traded lower as global oil prices declined in response to fears of an economic slowdown. Energy stocks were the second-worst-performing sector in the quarter.”