11 Undervalued Dividend Aristocrats to Buy Now

5. Chevron Corporation (NYSE:CVX)

Forward P/E Ratio as of May 7: 14.86

Chevron Corporation (NYSE:CVX) is an American leading oil and gas company that produces and markets a variety of high-grade refined products such as gasoline, diesel, marine and jet fuels, premium base oils, finished lubricants, and fuel oil additives. It operates five fuel refineries across the US and maintains an extensive network of Chevron and Texaco-branded service stations.

Chevron Corporation (NYSE:CVX) experienced a decline in financial performance during Q1 2025, largely due to falling global oil prices. The company reported adjusted earnings of $3.8 billion, or $2.18 per share, which was a decrease from $2.93 per share in the same quarter last year. Despite the decline, the results surpassed Wall Street’s expectations by $0.03. However, revenue for the quarter totaled $47.61 billion, falling short of estimates by nearly $783.4 million. Chevron’s global production remained steady at 3.35 million barrels of oil equivalent per day (boe/d), unchanged from the previous year, but earnings from oil and gas operations dropped by over 28% compared to the same period last year.

Chevron Corporation (NYSE:CVX)’s cash position came in strong with an operating cash flow of $7.6 billion and $3.7 billion in free cash flow in the first quarter of 2025. Moreover, it returned $6.9 billion to shareholders through dividends and share repurchases. The company’s quarterly dividend comes in at $1.71 per share for a dividend yield of 4.99%, as of May 7. It is one of the best dividend aristocrat stocks on our list as the company has raised its payouts for 38 consecutive years.