5 Best Dividend Stocks of 2022

2. Occidental Petroleum Corporation (NYSE:OXY)

Year-to-date Returns as of December 12: 106.1%

Occidental Petroleum Corporation (NYSE:OXY) is a Texas-based chemical industry company. The company currently pays a quarterly dividend of $0.13 per share and has a dividend yield of 0.82%, as of December 12.

In the third quarter of 2022, Occidental Petroleum Corporation (NYSE:OXY) reported a strong cash position, with $4.3 billion in operating cash flow. It generated over $3.6 billion in free cash flow before working capital. The company’s revenue for the quarter came in at $9.5 billion, up 39.3% from the same period last year.

Citigroup called Occidental Petroleum Corporation’s (NYSE:OXY) performance ‘outstanding’ in a high oil environment. The firm raised its price target on the stock in November to $75 with a neutral rating on the shares.

Berkshire Hathaway was the leading stakeholder of Occidental Petroleum Corporation (NYSE:OXY) in Q3 2022, owning stakes worth nearly $12 billion. Overall, 74 hedge funds in Insider Monkey’s database owned positions in the company in Q3, up from 66 in the previous quarter.

Smead Capital Management mentioned Occidental Petroleum Corporation (NYSE:OXY) in its Q3 2022 investor letter. Here is what the firm has to say:

“Our top-performing stocks in the quarter includes Occidental Petroleum (NYSE:OXY). Oil and gas have been the best game in the stock market town this year and it was a pleasant surprise to see home builders pick up even with dour news on interest rates and the economy. For the first three quarters of the year, we should change the name of our fund to the Jed Clampett Fund. Occidental Petroleum (NYSE:OXY), was one of the standouts. Up through the bear market came a “bubblin’ crude!”