In this article, we discuss the 5 best epicenter stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Epicenter Stocks To Buy Now.
5. Chevron Corporation (NYSE:CVX)
Number of Hedge Fund Holders: 51
Chevron Corporation (NYSE:CVX) operates as an integrated oil and gas firm. Chevron Corporation (NYSE:CVX) has weathered the Omicron storm better than other epicenter stocks because of the higher prices of oil and favorable supply-demand balances. The United States Department of Energy recently released a short-term energy outlook and detailed that in the first quarter of 2022, new production highs in the US would lead to a surplus market. The global oil consumption is expected to increase in 2022 as well.
Hedge funds have been piling into Chevron Corporation (NYSE:CVX) stock in acknowledgment of a bullish analysis of the energy sector. At the end of the third quarter of 2021, 51 hedge funds in the database of Insider Monkey held stakes worth $4.4 billion in Chevron Corporation (NYSE:CVX), up from 50 in the preceding quarter worth $4.2 billion.
In its Q1 2021 investor letter, ClearBridge Investments highlighted a few stocks and Chevron Corporation (NYSE:CVX) was one of them. Here is what the fund said:
“While reducing in health care and consumer staples, we increased our exposure to high-quality names in economically sensitive areas of the market. We added to low-cost, high-quality energy names, (including) Chevron. We are positive on the company’s strong balance sheets, competitive positions and exposure to an economic recovery.”