5 Best LNG Stocks to Buy Now

2. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 51

Chevron Corporation (NYSE:CVX) engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. Chevron Corporation (NYSE:CVX) was founded in 1879 and is headquartered in San Ramon, California.

Out of the 867 elite funds tracked by Insider Monkey, 51 hedge funds held stakes in Chevron Corporation (NYSE:CVX) by the end of the third quarter of 2021. The total value of these stakes was $4.44 billion. This is compared to 50 positions in the previous quarter with a total stake value of $4.27 billion.

As of this November, Wells Fargo analyst Roger Read raised his price target on Chevron Corporation (NYSE:CVX) to $115 from $109 and kept an Equal Weight rating on the shares. The analyst notes Chevron Corporation (NYSE:CVX) delivered an “impressive” third-quarter performance and continues to strengthen its balance sheet.

As of the third quarter of 2021, Chevron Corporation (NYSE:CVX) reported earnings per share of $2.96, beating estimates by $0.77. The company’s revenue came out at $44.71 billion, up 82.86% year over year, and beat estimates by $3.86 billion.

According to the latest third-quarter filings, Warren Buffett’s Berkshire Hathaway is the leading stakeholder in Chevron Corporation (NYSE:CVX). Mr. Buffett owns more than 28.7 million shares in the company, which amount to a stake value of $2.91 billion, and represent 0.99% of Berkshire Hathaway’s 13F portfolio.

ClearBridge Investments, an investment management firm, published its “Large Cap Value Strategy” first quarter 2021 investor letter, in which it shared its insights on Chevron Corporation (NYSE:CVX). Here’s what the experts at ClearBridge Investments had to say:

“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.”