5 Best Dividend Stocks for Roth IRA

3. Chevron Corporation (NYSE: CVX)

Number of Hedge Fund Holders: 41

Ken Fisher raised his stake in Chevron Corporation (NYSE: CVX) by 3% during the first quarter to 5.82 million shares, accounting for 0.43% of the overall portfolio. Chevron Corporation is among a few oil companies that have sustained their dividends during the pandemic year, thanks to its assets sales strategy along with strong cash generation potential. It currently offers a quarterly dividend of $1.34 per share, yielding around 5.16%.

Nelson Capital Management, an investment management firm, highlighted a few stocks including Chevron Corporation in the first quarter investor letter. Here is what Nelson Capital Management stated:

“In the energy sector, we bought a position in Chevron. As interest rates have increased, we have witnessed a rotation out of growth and momentum stocks and into value stocks. We think this trend could continue, which would be advantageous for Chevron. Additionally, we anticipate an uptick in oil and gas demand as more people get vaccinated and air travel picks up. Higher oil prices coupled with increased demand should lead to better earnings results for Chevron, which will enable it to support (or perhaps grow) its Large 5% dividend.”