Chevron Corporation (CVX): A Reliable Energy Giant for Dividend Paying Stocks Investors

Chevron Corporation (NYSE:CVX) is included among the 12 Best Dividend Paying Stocks to Buy Now.

Chevron Corporation (CVX): A Reliable Energy Giant for Dividend Paying Stocks Investors

Chevron Corporation (NYSE:CVX) is an American multinational energy corporation. It is regarded as one of the lowest-risk companies in the energy sector. With industry-leading efficiency, it can break even at around $30 per barrel, allowing it to generate strong cash flow even when oil prices are subdued. This cost advantage also gives Chevron the flexibility to invest consistently through market cycles, positioning it for long-term growth.

Chevron Corporation (NYSE:CVX) is beginning to benefit from several large-scale projects, including the Future Growth Project in Kazakhstan, which began production earlier this year and is steadily moving toward full capacity. In addition, the company has wrapped up new developments in the Gulf of Mexico.

Together, these projects and other initiatives are expected to lift Chevron Corporation (NYSE:CVX)’s legacy operations to generate about $10 billion in additional free cash flow next year. That marks a significant jump from the $15 billion in free cash flow it produced the previous year.

Due to its consistent cash flow, Chevron Corporation (NYSE:CVX) is a strong dividend company. It currently offers a quarterly dividend of $1.71 per share and has a dividend yield of 4.38%, as of September 19. The company has raised its payouts for 38 years in a row.

While we acknowledge the potential of CVX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CVX and that has a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 13 Best Consistent Dividend Stocks to Buy Now and Dividend Stock Portfolio For Income: 12 Stocks to Buy Now.

Disclosure: None.