5 Best Dividend Stocks to Invest In According to Jim Simons’ Renaissance Technologies

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1. Chevron Corporation (NYSE:CVX)

Dividend Yield: 4.21%

Number of Hedge Fund Holders: 103

Renaissance Technologies Equity Stake: $416.98 Million

Chevron Corp (NYSE:CVX) is one of the best dividend stocks to invest in, according to Jim Simons’ Renaissance Technologies. On July 2, TD Cowen reiterated a Hold rating on Chevron Corp (NYSE:CVX) and cut the price target to $197 from $205.

The price target cut aligns with adjusted targets in the oil major’s space ahead of the second quarter earnings season. The research firm has also reiterated that there are pockets of opportunities in the oil sector despite the recent correction in oil prices following the waning of tensions in the Middle East and the opening of the Strait of Hormuz.

Chevron Corp. also offers a 4.21% dividend yield.

Chevron Corporation (NYSE:CVX) is a global energy corporation that explores for, produces, and refines crude oil and natural gas. The company operates across the entire energy supply chain, including manufacturing petrochemicals, delivering fuels, and investing in lower-carbon energy solutions for the future.

While we acknowledge the potential of CVX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CVX and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 10 Best Stocks to Buy According to David Greenspan’s Slate Path Capital and 10 AI Stocks on Wall Street’s Radar: Datadog, Microsoft, and More.

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