12 Best Dow Stocks to Invest In Right Now

7. Chevron Corp (NYSE:CVX)

Number of Hedge Fund Holders: 103

Chevron Corp (NYSE:CVX) is one of the best Dow stocks to invest in right now. On July 2, Biraj Borkhataria from RBC Capital reiterated a Buy rating on the stock. The firm also assigned a target price of $220. The price target reflects a further 30% upside from current levels.

On a more bullish note, just days after announcing an agreement with Microsoft to power a massive West Texas data center for 20 years, the company plans to explore additional data center deals across the US. The company plans to use its natural gas resources and experience in building large energy projects. This is aimed at supporting the growing electricity demand from Big Tech, driven mainly by AI and data centers.

Moreover, the company sees potential for additional projects in West Texas, which is part of the Permian Basin, a major US oil-producing region. It also contains vast natural gas resources, Jeff Gustavson, the company’s president of new energies, told Reuters in an interview. On a more positive front, CVX plans to expand into other regions, including the Midwest and the Gulf Coast, which are major energy production and shipping hubs.

While highlighting the company’s expansion plans, Gustavson remarked,

If we can put the right pieces together to ​meet our return thresholds, you ​can see more announcements ⁠over time.

Chevron Corporation (NYSE:CVX) operates as a fully integrated energy company, producing crude oil and natural gas, manufacturing fuels, lubricants, and petrochemicals, and developing technologies to improve efficiency across its operations and the broader energy industry.