5 Best Crude Oil Stocks To Buy Today

3. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 53

Oil prices have skyrocketed in the previous month, as did shares of Chevron Corporation (NYSE:CVX), which increased nearly 17% as of March 8. The California-based crude oil firm, the second-largest oil and gas company in the US, reported fourth-quarter revenue of $48.1 billion, with earnings of $5.05 billion, or $2.63 per share, up from a loss of $0.33 per share on $25.2 billion in revenue in Q4 2020. The main driver of the year-over-year improvement in Chevron Corporation’s (NYSE:CVX) earnings was essentially rising oil prices, which are expected to continue as demand for oil grows due to the strong economic recovery following the lockdowns and Russia’s ongoing invasion of Ukraine.

At the end of the fourth quarter of 2021, 53 hedge funds in the database of Insider Monkey held stakes worth $6.51 billion in Chevron Corporation (NYSE:CVX), up from 51 in the previous quarter worth $4.44 billion. Warren Buffett, one of the world’s most successful value investors, is the oil company’s largest shareholder, with his conglomerate holding firm Berkshire Hathaway owning 38.2 million shares of Chevron Corporation (NYSE:CVX) in Q4 2021. In the fiscal quarter ended December 2021, Berkshire Hathaway increased its stake in Chevron by 34%.

Chevron Corporation (NYSE:CVX) is one of the best crude oil stocks to buy for income investors, as the company has raised its dividends for the past 35 years in a row. The company now pays a yearly dividend of $5.68 per share to its stockholders.