5 Best Non-REIT Dividend Stocks To Buy

2. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 59

Dividend Yield as of November 4: 3.08%

Chevron Corporation (NYSE:CVX), the American energy giant, is one of the premier dividend stocks to monitor. The company posted a strong Q3 beat on earnings and revenue, supported by towering natural gas and crude oil prices. On October 26, Chevron Corporation (NYSE:CVX) declared a $1.42 per share quarterly dividend, in line with previous. The dividend is payable on December 12, to shareholders of the company as of November 18. 

On October 31, Cowen analyst Charles Ryhee raised the price target on Chevron Corporation (NYSE:CVX) to $185 from $160 and kept an Outperform rating on the shares. The company reiterated a disciplined approach to M&A and buyback despite an ever improving balance sheet, the analyst noted. 

According to Insider Monkey’s data, 59 hedge funds were long Chevron Corporation (NYSE:CVX) at the end of June 2022, compared to 53 funds in the prior quarter. Warren Buffett’s Berkshire Hathaway is the leading position holder in the company, with 161.4 million shares worth $23.3 billion. 

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