5 Best Chemical Stocks to Buy For 2021

3. Chevron Corporation (NYSE: CVX)’s Chemical Business

Chevron Phillips Chemical Company is a chemicals company jointly owned by oil giant Chevron and Texas-based Phillips 66. In 2019, it was reported that Chevron Phillips was planning to acquire Canadian chemical company Nova Chemicals for about $15 billion. However, the deal could not materialize.

Chevron Phillips is a major producer of key chemicals like ethylene, propylene, polyethylene, Alpha-olefins, Polyalphaolefins and other specialty chemicals.

Ken Fisher’s Fisher Asset Management is one of the 43 hedge funds having stakes in Chevron, as of the end of the third quarter. The fund owns 5,428,944 shares of the company, worth $390.88 million. Here is what we wrote about CVX recently:

“2021 looks to be shaping up as a year where there will be steady progress against the pandemic and I think it will end much better than it begins.” Mike Wirth, the current Chairman, and CEO of Chevron seem to have a positive outlook for energy demand in the current year. In an interview with Bloomberg, Wirth said the pandemic made everyone stay in their places, travel restrictions are everywhere and so there has been little to almost no demand for oil but he views 2021 with full optimism. With the vaccine being just around the corner, he thinks that people will start to move around and this will result in a gradual increase in demand for oil and energy.

…Chevron (NYSE:CVX) recently acquired Noble Energy (NASDAQ: NBL) and for Wirth, “Together, we’re better than before.”. Noble Energy is also a very strong energy company that operates offshore Israel, the west coast of Africa, and onshore in top basins covering the U.S. of America. The recent acquisition aims to make the company stronger to attract more investors and to bring more investments in the company.”