5 Best Dividend Stocks with Over 5% Yield According to Hedge Funds

3. Chevron Corporation (NYSE: CVX)

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

Chevron Corporation (NYSE: CVX) works with and manages integrated energy, chemicals, and petroleum operations. The company ranks 3rd on our list of the best dividend stocks with over 5% yield according to hedge funds, operating in the energy industry as one of the only dividend aristocrats of the sector.

This July, Chevron Corporation (NYSE: CVX) was upgraded at Redburn. The firm’s new rating on shares of the company is Buy, compared to the 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 6.03% in the past 6 months and 18.91% 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.