5 Cheapest Dividend Aristocrats Right Now

4. Chevron Corporation (NYSE:CVX)

Forward P/E Ratio as of February 2: 10.48

Chevron Corporation (NYSE:CVX) specializes in the exploration of oil and natural gas and producing different chemicals. On January 25, the company declared a 6.3% hike in its quarterly dividend at $1.51 per share. This was the company’s 36th consecutive year of dividend growth. The stock has a dividend yield of 3.57%, as of February 2.

In FY22, Chevron Corporation (NYSE:CVX) reported an operating cash flow of $49.6 billion and its free cash flow stood at $37.6 billion. The company’s cash generation was sufficient to return dividends worth $11 billion during the year.

In January, Truist raised its price target on Chevron Corporation (NYSE:CVX) to $179 while maintaining a Hold rating on the shares, appreciating the company’s recently announced repurchase authorization worth $75 billion. It is among the cheapest dividend aristocrats on our list with a forward price-to-earnings ratio of 10.48.

The number of hedge funds tracked by Insider Monkey owning stakes in Chevron Corporation (NYSE:CVX) grew to 66 in Q3 2022, from 59 in the previous quarter. These stakes have a total value of over $27 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.”