13 Best Oil Refinery Stocks to Buy Right Now

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2. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 81

Chevron Corporation (NYSE:CVX) is included in our list of the 13 Best Oil Refinery Stocks to Buy Right Now.

On August 1, 2025, Chevron Corporation (NYSE:CVX) released its Q2 2025 results. The company posted earnings of $2.5 billion, a decrease from $4.4 billion a year earlier, while reporting adjusted earnings of $3.1 billion. The decrease in earnings was attributed to a $215 million net loss related to Hess’s share valuation and pension costs.

Chevron Corporation (NYSE:CVX) hit a record production of 1 million BOE/day at its Permian Basin, which helped offset lower crude prices. With cash flow from operations reaching its all-time high, the company was able to return $5.5 billion to shareholders. This quarter, the company’s portfolio in Guyana, Bakken, and the Gulf of Mexico was strengthened with the completion of Hess’s acquisition. Furthermore, Chevron Corporation (NYSE:CVX) stepped into the U.S. lithium market, expanded LNG offtake capacity to 7 MTPA, and began production at its Geismar renewable diesel plant.

Following the earnings release, UBS increased its price target on Chevron Corporation (NYSE:CVX) from $177 to $186 on August 4, maintaining a ‘Buy’ rating. This price revision reflected the company’s strong quarter performance.

Engaging in oil and gas production, refining, and lower-carbon solutions, Chevron Corporation (NYSE:CVX) leads the market as an integrated energy company.

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