5 Best Performing Dow Stocks in 2022

1. Chevron Corporation (NYSE:CVX)

YTD Total Return as of December 25, 2022: 56.64%

Number of Hedge Fund Holders: 66

Headquartered in San Ramon, California, Chevron Corporation (NYSE:CVX) is one of the world’s largest integrated energy companies, with operations in more than 180 countries. Chevron Corporation (NYSE:CVX)’s business is organized into three main segments: Upstream, Downstream, and Chemicals. The Upstream segment includes the exploration, development, and production of oil and natural gas, as well as the transportation and storage of those energy sources. The Downstream segment includes the refining, marketing, and distribution of oil, natural gas, and other energy products. The Chemicals segment includes the manufacturing and marketing of petrochemicals, polymers, and specialty chemicals.

On November 11, 2022, Ryan Todd, an analyst at Piper Sandler, increased his price target on Chevron Corporation (NYSE:CVX) to $206 from $186 while keeping an Overweight rating on the stock. The analyst believes that the company’s third-quarter results have boosted the integrated oil macro outlook for 2023.

As per Insider Monkey’s database, 66 hedge funds remained bullish on Chevron Corporation (NYSE:CVX) at the end of Q3 2022. Berkshire Hathaway came out to be the biggest holder of the company’s shares at the end of the quarter.

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