7 Best Natural Resources Stocks to Invest in According to Hedge Funds

4. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 81

Chevron Corporation (NYSE:CVX) is a global leader in integrated energy and chemicals, with operations across various industries. The company’s operations include upstream exploration, production, and transportation of crude oil and natural gas, as well as downstream refining, marketing, and petrochemical manufacturing. Chevron is also at the forefront of carbon capture, renewable fuels, and gas-to-liquids technology, all of which help shape the future of energy infrastructure.

Chevron Corporation (NYSE:CVX) reported a strong performance in Q4 ended 31 December 2024, earning $3.2 billion, up from $2.3 billion in the same period in 2023. Adjusted for one-time factors, earnings were $3.6 billion, reflecting a mix of challenges and accomplishments. While refined product margins were lower and severance charges reduced profits, these impacts were partially offset by volume growth and favorable foreign currency effects. Full-year 2024 production reached new highs, with a 7% increase in global output and a notable 19% increase in U.S. production, primarily due to the company’s expansion in the Permian Basin. This outstanding performance allowed Chevron to return a record $27.0 billion to shareholders through dividends and buybacks, highlighting the company’s strong cash flows.

Chevron Corporation (NYSE:CVX)’s ability to execute complex, high-impact projects was fully demonstrated in 2024. One of the most significant accomplishments was the completion of the 20,000-psi Anchor project in the Gulf of Mexico, a groundbreaking deepwater venture. Furthermore, the company successfully ramped up production in Kazakhstan’s Tengiz field, solidifying its position in the energy sector.

Looking ahead, Chevron Corporation (NYSE:CVX) remains dedicated to both operational efficiency and long-term sustainability. The company is focused on cost control, aiming to reduce structural costs by $2 billion to $3 billion by 2026. At the same time, it continues to prioritize investments in energy transition initiatives, such as carbon capture and natural gas supply expansion. With capital expenditures expected to remain stable, Chevron’s strategic investments are poised to ensure continued production growth and cash flow resilience, positioning the company well for the future of energy.