5 LNG Stocks to Watch Amid Ukraine Crisis

3. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 53

Chevron Corporation (NYSE:CVX) is an integrated oil and gas firm. There is positive hedge fund sentiment around the stock. At the end of the fourth quarter of 2021, 53 hedge funds in the database of Insider Monkey held stakes worth $6.5 billion in Chevron Corporation (NYSE:CVX), up from 51 in the preceding quarter worth $4.4 billion. 

Chevron Corporation (NYSE:CVX) was in advanced talks for an agreement related to a shale gas project in Russia a few years ago. It had also held similar talks for a shale gas project in Ukraine. Both talks failed to yield positive results. However, the company does own a 15% stake in the Caspian Pipeline Consortium, a pipeline from Kazakhstan to a Black Sea terminal owned by Russia and used by Chevron to export crude oil. Sanctions would affect imports from these ports. 

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.”