Billionaire Ray Dalio’s Top 5 Energy Stock Picks

2. Chevron Corporation (NYSE:CVX)

Bridgewater Associates’ Stake Value: $45,322,000

Percentage of Bridgewater Associates’ 13F Portfolio: 0.22%

Chevron Corporation (NYSE:CVX) is one of the world’s largest integrated oil companies, with operations in over 180 countries. The company has a long history of profitability and a strong balance sheet, with a market capitalization of over $360.5 billion, as of November 11. As of September 30, Bridgewater Associates holds a position worth $45.3 million in Chevron Corporation (NYSE:CVX), and the stock is one of Ray Dalio’s top energy stock picks.

Chevron Corporation (NYSE:CVX) has a healthy balance sheet with low debt levels and is committed to delivering shareholder value. According to the company’s balance sheet, Chevron Corporation (NYSE:CVX) has a debt-to-equity ratio of 0.149 and has free cash flows of $36.69 billion. As of November 11, Chevron Corporation (NYSE:CVX) has returned 56.35% to investors year to date and is offering a forward dividend yield of 3.05%.

On October 28, Chevron Corporation (NYSE:CVX) posted earnings for the third quarter of fiscal 2022. The company reported earnings per share of $5.56 and beat estimates by $0.64. The company generated a revenue of $66.64 billion, up 49.06% year over year, and outperformed expectations by $5.66 billion. On November 11, Piper Sandler analyst Ryan Todd raised his price target on Chevron Corporation (NYSE:CVX) to $206 from $186 and maintained an Overweight rating on the shares.