12 Best American Energy Stocks to Buy Right Now

Page 9 of 11

3. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 81

Chevron Corporation (NYSE:CVX) is one of the best American energy stocks to buy right now. On August 4, Morgan Stanley analyst Devin McDermott resumed coverage of Chevron Corporation (NYSE:CVX), giving an Overweight rating and setting the price target at $174.

Morgan Stanley believes that the recent closing of the acquisition of Hess Corporation removes a key overhang for Chevron Corporation (NYSE:CVX). This deal has also strengthened the company’s business model.

The analyst pointed out that although Chevron Corporation’s (NYSE:CVX) long-term outlook is still “less clear than peers,” this uncertainty is balanced by the company’s “leading FCF rate of change into 2026.”

Chevron Corporation (NYSE:CVX) is a major American energy company that produces crude oil and natural gas. It also manufactures transportation fuels, lubricants, petrochemicals, and additives.

Page 9 of 11