The Best and Worst Dow Stocks

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22. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 81

Short Interest as of Apr 30, 2025: 3.54%

Chevron Corporation is involved in chemicals and integrated energy operations. It generates its revenue through the Downstream and Upstream segments.

The stock has experienced minor volatility as BNP Paribas Exane recently downgraded it from Outperform to Neutral and decreased its price target to $140. The bank lowered its price target, citing the company’s significant exposure to oil operations, as it is cautious about the oil price outlook for the next 12 to 18 months.

On the flip side, the natural gas business is poised to be a growth driver for the company. This part of the business has already contributed to its strong financial performance. It profited from higher natural gas price realization, specifically in international markets. Currently, natural gas is priced at $3.53, demonstrating an 84% rise from the previous year’s gas price.

Increasing demand for data centers is likely to increase natural gas prices and demand further. Data centers currently account for 3% of the global electricity supply. By 2030, the number of data centers is anticipated to increase from 6,111 to over 8,000. As these power-hungry installations rely strongly on electricity, and 43% of electricity is generated from natural gas, the demand is likely to stay elevated.

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