5 Best Rising Dividend Stocks to Buy Right Now

2. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 86

On May 11, Bernstein lowered its price recommendation on Chevron Corporation (NYSE:CVX) to $204 from $216. It reiterated a Market Perform rating on the shares. The firm said oil markets could still move in several directions from here, including the extreme possibility of the Strait of Hormuz remaining closed for years. Even so, Bernstein updated its models based on the assumption that conditions would return to normal by mid-year.

On May 7, Goldman Sachs raised its price goal on CVX to $216 from $211. It maintained a Buy rating on the stock. The analyst said the company continues to show a strong free cash flow outlook, supported by its upstream assets and possible upside tied to Venezuela. The note also pointed to Chevron’s disciplined capital allocation, structural cost reductions, solid balance sheet, and its exploration and production strategy across international markets, US operations, and efficiency efforts.

Chevron Corporation (NYSE:CVX) is an integrated energy company that produces crude oil and natural gas. It also manufactures transportation fuels, lubricants, petrochemicals, and additives, while developing technologies aimed at supporting its operations and the broader energy industry. The company operates through its Upstream and Downstream segments.