5 Best Gas Stocks To Buy Now

3. Chevron Corporation (NYSE:CVX) 

Number of Hedge Fund Holders: 50

Chevron Corporation (NYSE:CVX) is an American multinational energy company, which is also the second largest oil company in America. Chevron Corporation (NYSE:CVX) serves customers and markets across 180 countries, and is one of the direct successors of John Rockefeller’s Standard Oil. Chevron Corporation (NYSE:CVX)’s main operations include manufacturing and selling gasoline, natural gas, lubricants, fuels, and petrochemicals. It is one of the top gas stocks to buy now. 

At the end of Q2, 50 hedge funds monitored by Insider Monkey held stakes in Chevron Corporation (NYSE:CVX), up from 41 in Q1. 

On July 30, Chevron Corporation (NYSE:CVX) reported earnings for the second quarter. The EPS was $.171, $0.11 more than analysts’ had estimated. The revenue also exceeded forecasts by $1.15 billion, at $37.60 billion. 

Truist analyst Neal Dingmann kept a Buy rating on Chevron Corporation (NYSE:CVX) on October 7, with a price target of $150, up from $145. 

ClearBridge Investments mentioned Chevron Corporation (NYSE:CVX) in its Q1 2021 investor letter. Here is what they 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.”