Republicans are Buying These 5 Oil and Gas Stocks

3. Chevron Corp (NYSE:CVX)

Number of Hedge Fund Investors: 71

Republican Congressman Michael McCaul bought a stake worth between $15,000 to $50,000 in Chevron Corp (NYSE:CVX) on February 20. Since then through April 24, the stock has gained about 6%.

Of the 933 hedge funds tracked by Insider Monkey, 71 hedge funds reported owning stakes in Chevron Corp (NYSE:CVX). Warren Buffett’s Berkshire Hathaway owns an $18.8 billion stake in Chevron Corp (NYSE:CVX).

Carillon Eagle Growth & Income Fund stated the following regarding Chevron Corporation (NYSE:CVX) in its fourth quarter 2023 investor letter:

“Chevron Corporation (NYSE:CVX) traded lower, along with oil prices, and issued a disappointing earnings announcement due to overseas refining losses. Separately, the company announced an agreement to buy another energy company with operations offshore of Guyana, as well as in North Dakota, the Gulf of Mexico, and the Gulf of Thailand. This is a strategic acquisition for very little takeout premium.”