5 Best Dividend Stocks of All Time

3. Chevron Corporation (NYSE:CVX)

Dividend Yield as of July 19: 4.06%

Chevron Corporation (NYSE:CVX) is a California-based energy company that sells diesel, gasoline, and aviation fuels. The company has five US fuel refineries and also owns a network of service stations.

In Q1 2022, Chevron Corporation (NYSE:CVX) reported total assets worth over $2.6 billion, up from $2.5 billion in the previous quarter. With the company’s current market cap of $279 billion, it is expected to generate $31.3 billion in free cash flow over the next three years. Chevron Corporation (NYSE:CVX) has raised its dividend consistently for the past 25 years, falling into the category of Dividend Champion. In the past 10 years, it raised its dividend by 62%, which shows its financial strength. The company currently pays a quarterly dividend of $1.42 per share, with a yield of 4.06%, as of the close of July 19.

In July, BofA lowered its price target on Chevron Corporation (NYSE:CVX) but kept a Buy rating on the shares, as oil prices rise in the US.

At the end of March 2022, 53 hedge funds in Insider Monkey’s database owned stakes in Chevron Corporation (NYSE:CVX), the same as in the previous quarter. The collective value of these stakes is nearly $28 billion. Warren Buffett, Ken Fisher, and Ken Griffin were some of the company’s prominent stakeholders in the first quarter.

Diamond Hill Capital mentioned Chevron Corporation (NYSE:CVX) in its Q1 2022 investor letter. Here is what the firm has to say:

“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.”