5 Best Energy Stocks To Invest In According to Hedge Funds

3. Chevron Corporation (NYSE:CVX)

Number of Q3 2023 Hedge Fund Shareholders: 72

Chevron Corporation (NYSE:CVX) is a diversified energy company operating in the petroleum industry. Like its rival and peer Exxon, Chevron Corporation (NYSE:CVX) is also heavily focusing on U.S. shale oil production and it plans to increase output this year.

For their third quarter of 2023 shareholdings, 72 out of the 910 hedge funds part of Insider Monkey’s database had invested in Chevron Corporation (NYSE:CVX). Warren Buffett’s Berkshire Hathaway was the biggest shareholder due to its $18.5 billion investment.

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