5 Best Warren Buffett Stocks To Buy Now

4. Chevron Corporation (NYSE:CVX)

As of the end of the second quarter, Warren Buffett owns 161 million Chevron shares, which are worth $23.4 billion. Chevron, like other major oil companies, has been gaining in 2022 amid rising energy prices. In January this year, Chevron board declared a quarterly dividend of $1.42 per share, a 6% increase.  The company is on track to mark 2022 the 35th consecutive year with an increase in annual dividend payout per share.

Smart money is also increased its hold in Chevron. A total of 59 hedge funds in our database reported having stakes in the company at the end of June, compared to 53 in the quarter earlier.

Here is what Diamond Hill Long-Short Fund has to say about Chevron Corporation (NYSE:CVX) in its Q1 2022 investor letter:

“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.”