5 Best Dividend Stocks Hedge Funds are Buying

4. Chevron Corporation (NYSE: CVX)

Number of Hedge Fund Holders: 50
Dividend Yield: 5.3%

Chevron Corporation (NYSE: CVX), an energy industry company, is next on our list of the best dividend stocks hedge funds are buying. The company is based in the US and operates across the globe as an energy corporation, and is active in over 180 countries.

As of this July, Redburn holds a Buy rating on shares of Chevron Corporation (NYSE: CVX), after an upgrade from the firm’s previous Neutral rating.

In the second quarter of 2021, Chevron Corporation (NYSE: CVX) had an EPS of $1.71, beating estimates by $0.11. The company’s revenue was $37.6 billion, up 178.62% year over year and beating estimates by $1.15 billion. Chevron Corporation (NYSE: CVX) has gained 0.94% in the past 6 months and 14.15% year to date.

By the end of the second quarter of 2021, 50 hedge funds out of the 873 tracked by Insider Monkey held stakes in Chevron Corporation (NYSE: CVX) worth roughly $4.3 billion. This is compared to 41 hedge funds in the previous quarter with a total stake value of approximately $4.9 billion.