5 Best Dividend Aristocrat Stocks To Buy Heading Into Recession

In this article, we discuss 5 best dividend aristocrat stocks to buy heading into recession. If you want to see more stocks in this selection, click 11 Best Dividend Aristocrat Stocks To Buy Heading Into Recession. 

5. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 59

Dividend Yield as of September 27: 4.03%

Number of Years of Consecutive Dividend Growth: 35

Chevron Corporation (NYSE:CVX) is an American multinational energy corporation. On July 27, the company declared a quarterly dividend of $1.42 per share, in line with previous. The dividend was distributed to shareholders on September 12. Chevron Corporation (NYSE:CVX) is one of the best dividend aristocrat stocks to buy heading into recession. The company has provided consistent annual dividend growth for 35 years. 

Piper Sandler analyst Ryan Todd on September 12 raised the price target on Chevron Corporation (NYSE:CVX) to $190 from $189 and kept an Overweight rating on the shares. The analyst remains constructive on the integrated oils, noting that near-record distillate margins will support upside in refining estimates, which will potentially continue into the winter and an “equally tight” 2023. 

Among the hedge funds tracked by Insider Monkey, Warren Buffett’s Berkshire Hathaway is the biggest stakeholder of Chevron Corporation (NYSE:CVX), with 161.4 million shares worth $23.3 billion. Overall, 59 hedge funds were long Chevron Corporation (NYSE:CVX) at the end of Q2 2022, compared to 53 funds in the last quarter. 

In its Q1 2022 investor letter, Diamond Hill, an asset management firm, highlighted a few stocks and Chevron Corporation (NYSE:CVX) was one of them. Here is what the fund said:

“Other top contributors in Q1 included multinational energy company Chevron Corp. (NYSE:CVX). The company benefited from increased energy demand as COVID-related economic restrictions eased in tandem with concerns regarding supply interruptions related to Russia’s invasion of Ukraine.”