5 Best Energy Stocks To Buy For 2022

2. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 51

Chevron Corporation (NYSE:CVX) is one of the most dependable options in the oil and gas space. In a volatile market, the stock could provide investors with valuable cover and healthy dividends. Chevron Corporation (NYSE:CVX) has registered an incredible 34 years of consecutive dividend growth. This achievement alone speaks volume about the financial stability of the firm and its ability to deliver in bull and bear markets. The stock also stands to benefit from the high energy prices in 2022. 

A growing number of hedge funds are piling into Chevron Corporation (NYSE:CVX) stock as inflation fears reach fever pitch. At the end of the third quarter of 2021, 51 hedge funds in the database of Insider Monkey held stakes worth $4.4 billion in Chevron Corporation (NYSE:CVX), up from 50 in the preceding quarter worth $4.2 billion. 

In its Q1 2021 investor letter, ClearBridge Investments highlighted a few stocks and Chevron Corporation (NYSE:CVX) was one of them. Here is what the fund said:

“While reducing in health care and consumer staples, we increased our exposure to high-quality names in economically sensitive areas of the market. We added to low-cost, high-quality energy names, (including) Chevron. We are positive on the company’s strong balance sheets, competitive positions and exposure to an economic recovery.”