Warren Buffett’s 7 Top Favorite Stocks for 2024

2. Chevron Corp (NYSE:CVX)

Warren Buffett’s Q1 2024 Stake: $19,398,897,853

Warren Buffett started building stakes in Chevron Corp (NYSE:CVX) back in 2020. He then reduced his exposure to the oil company for a few quarters, before piling into the stock again. As of the end of the first quarter of 2024, Chevron Corp (NYSE:CVX) accounts for about 5.8% of the total portfolio of Berkshire Hathaway.

Chevron Corp (NYSE:CVX) shares have gained about 9% so far this year.

Carillon Eagle Growth & Income Fund stated the following regarding Chevron Corporation (NYSE:CVX) in its fourth quarter 2023 investor letter:

“Chevron Corporation (NYSE:CVX) traded lower, along with oil prices, and issued a disappointing earnings announcement due to overseas refining losses. Separately, the company announced an agreement to buy another energy company with operations offshore of Guyana, as well as in North Dakota, the Gulf of Mexico, and the Gulf of Thailand. This is a strategic acquisition for very little takeout premium.”