5 Best Stocks to Buy Before US Election Season 2024

4. Chevron Corp (NYSE:CVX)

Number of Hedge Fund Investors: 71

The energy sector has been a clear winner in the past in every election year in the US. Goldman Sachs published a report recently in which it mentioned a few stocks poised to grow if the Republicans win this election. Chevron Corp (NYSE:CVX) was part of the list as Goldman said the energy sector gains under the commodities production policies of the Republicans.

Goldman also said under the Trump administration the US approved Keystone XL and Dakota Access pipelines, which was a positive for energy stocks like Chevron.

The London Company Large Cap Strategy stated the following regarding Chevron Corporation (NYSE:CVX) in its fourth quarter 2023 investor letter:

“Chevron Corporation (NYSE:CVX) – CVX underperformed during 4Q as oil prices fell, 3Q results missed expectations, and CVX negatively adjusted 2024-2025 cash flow guidance for its key asset in Kazakhstan. It is also notable that CVX announced a deal to acquire Hess Corp in a stock-for-stock transaction. While we generally do not maintain a high degree of exposure to pure commodity businesses, we continue to view CVX favorably for its conservative balance sheet, focus on returns, and commitment to the dividend.”