5 Best Dividend Stocks to Buy According to Irving Kahn’s Hedge Fund

4. Chevron Corporation (NYSE: CVX)

Kahn Brothers’ Stake Value: $413,000
Percentage of Kahn Brothers’ 13F Portfolio: 0.06%
Dividend Yield: 5.15%
Number of Hedge Fund Holders: 41

Chevron Corporation (NYSE: CVX) is an American multinational energy corporation. It was founded in 1984 and is ranked fourth on the list of 10 best dividend stocks to buy according to Irving Kahn’s fund. Chevron has delivered 17.23% returns in the past 12 months.

On July 12, BMO Capital analyst Phillip Jungwirth initiated coverage of Chevron Corporation (NYSE: CVX) with an “Outperform” rating and a $123 price target. On April 28, Chevron Corporation (NYSE: CVX) declared a quarterly dividend of $1.34 per share, a 3.9% increase from the prior dividend of $1.29. This is the company’s 34th year of consecutive dividend payment.

Kahn Brothers holds 3,948 shares in Chevron Corporation (NYSE: CVX) worth $413.000, representing 0.06% of their portfolio. The biggest stakeholder of the company is Berkshire Hathaway, with 23.67 million shares worth $2.48 billion.

ClearBridge Investments, in their first quarter 2021 investor letter, mentioned Chevron Corporation (NYSE: CVX). Here is what the fund said:

“While reducing in health care and consumer staples, we increased our exposure to high-quality names in economically sensitive areas of the market. We added to low-cost, high-quality energy names, (including) Chevron. We are positive on the company’s strong balance sheets, competitive positions and exposure to an economic recovery.”