Billionaire’s 15 Favorite Oil and Gas Stocks Right Now

4. Chevron Corporation (NYSE:CVX)

Number of Billionaire Holders: 14

Chevron Corporation (NYSE:CVX) manufactures and sells a range of high-quality refined products, including gasoline, diesel, marine and aviation fuels, premium base oil, finished lubricants, and fuel oil additives. The company owns five fuel refineries in the US and boasts a network of Chevron and Texaco service stations.

Chevron Corporation (NYSE:CVX) increased its revenue by 10.7% YoY to $52.23 billion in Q4 2024, beating market expectations by over $3.8 billion, as it increased its worldwide and US production by 7% and 19% respectively to record levels in 2024. However, the oil major’s earnings of $2.06 per share missed estimates as weak margins dragged its refining business into a loss for the first time since 2020. CVX boasts a robust balance sheet, generating $31.5 billion in operating cash flow and $15 billion in free cash flow in 2024. The company returned a record $27 billion of cash to shareholders during the year, including share repurchases of $15.2 billion and dividends of $11.8 billion. Chevron has returned over $75 billion to shareholders over the last three years.

Chevron Corporation (NYSE:CVX) increased its quarterly dividend by 4.9% to $1.71 per share in January, stretching its dividend growth streak to 38 years. CVX is included among the 25 Best Dividend Stocks to Buy According to Billionaires.