5 Best American Oil Stocks To Buy Now

4. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 66

Chevron Corporation (NYSE:CVX) is one of the most prominent American oil companies. Recently, Barclays analyst Jeanine Wai upped the stock’s price target to $212 from $196 and kept an Overweight rating on the shares. Over the past 12 months, the stock has gained about 40%. Chevron Corporation (NYSE:CVX) is expected to continue gaining in 2023 as analysts expect higher oil prices in the year.

In October, Chevron Chevron (NYSE:CVX) posted strong Q3 results as the company’s earnings and revenues topped expectations. Chevron Corporation (NYSE:CVX)’s net income in the period came in at $11.23 billion, up from $6.11 billion posted in the same period last year.