5 Best Dividend Paying Stocks to Buy Right Now

4. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 103

Chevron Corporation (NYSE:CVX) ranks among the world’s largest energy companies, with operations that span the full energy value chain. The company produces oil and natural gas, operates pipeline networks, and runs refining and chemical businesses across multiple markets.

Managing a business of that scale involves many moving parts, including hedging activities designed to reduce exposure to swings in commodity prices. Those strategies can help over the long term, but their impact does not always line up neatly with quarterly earnings results. That was the case in the first quarter, when Chevron’s hedging activities reduced earnings by $2.9 billion. While the company expects that impact to reverse in future periods, the short-term effect was that first-quarter results may have appeared weaker than the underlying business performance suggested.

Beneath the earnings figures, production trends painted a more encouraging picture. Chevron increased output during the quarter, supported in part by its acquisition of Hess. Another notable highlight came from the Permian Basin, where production exceeded one million barrels per day for the fifth consecutive quarter. Management’s primary focus in the region remains generating strong cash flow, though the company has indicated it could increase production if needed.

With the Hess integration still underway and already contributing to higher output, expanding Permian production was not a major priority. Even so, Chevron Corporation (NYSE:CVX) delivered strong growth. Global production rose 15% from a year earlier, while U.S. production climbed 24%. The gains came despite ongoing conflict in the Middle East, demonstrating the resilience of the company’s operations. As Hess becomes fully integrated into Chevron’s portfolio, the company could still have additional opportunities to grow production in the years ahead.