5 Best LNG and LNG Shipping Stocks to Buy Now

04. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders as of Q2, 2022: 59

Chevron Corporation (NYSE:CVX) is an American multinational energy corporation. Chevron Corporation (NYSE:CVX) is one of the best dividend aristocrat stocks to buy heading into a recession. On July 27, Chevron Corporation (NYSE:CVX) declared a quarterly dividend of $1.42 per share, in line with its previous dividend. The company has a 35-year run of raising its dividends consistently. As of October 13, the stock’s dividend yield came in at 5.23%.

Piper Sandler analyst Ryan Todd on September 12 raised the price target on Chevron Corporation (NYSE:CVX) to $190 from $189 and kept an Overweight rating on the shares, citing a constructive stance on the integrated oils group. According to Insider Monkey’s data, Chevron Corporation (NYSE:CVX) was part of 59 hedge fund portfolios at the end of June 2022, compared to 53 in the last quarter. Warren Buffett’s Berkshire Hathaway is the leading position holder in the company, with 161.4 million shares worth $23.3 million.

Here is what ClearBridge Investments Large Cap Value Strategy has to say about Chevron Corporation (NYSE:CVX) in its Q1 2022 investor letter:

“The energy sector, which led a strong market in 2021, generated even more dramatic relative performance in the quarter, advancing 39% and leading the benchmark Russell 1000 Value Index. Years of restrained investment in the energy sector, combined with a strong post-pandemic recovery, contributed to the higher commodity prices. The upward pressure escalated with the Russian invasion of Ukraine. Our energy holding Chevron (NYSE:CVX) benefited from higher commodity prices and was among the top contributors to first-quarter performance.”