With an annual dividend yield of 4.30%, Chevron Corporation (NYSE:CVX) is included among the 10 Energy Stocks with Highest Dividends.
Chevron Corporation (NYSE:CVX) manufactures and sells a range of high-quality refined products, including gasoline, diesel, marine and aviation fuels, premium base oil, finished lubricants, and fuel oil additives.
On June 29, Morgan Stanley lowered its price target on Chevron Corporation (NYSE:CVX) from $214 to $210, but reiterated its ‘Overweight’ rating on the shares. The revised target, which still represents an upside of almost 27% from the current price level, follows the analyst firm’s updated estimates to reflect the recent changes in energy prices.
Morgan Stanley noted that the WTI crude price has fallen by nearly 60% from its recent peak in April and is now trading only slightly above its pre-conflict levels after the US and Iran signed a memorandum of understanding to end the war on June 14.
Known for its strong commitment to shareholders, Chevron Corporation (NYSE:CVX) has grown its dividend for 39 consecutive years and boasts the coveted title of a Dividend Aristocrat. The company’s business has been designed to comfortably cover its payouts even at crude prices below $50 per barrel, allowing it to sustain its dividends even through multiple commodity downturns, including the oil market collapse in 2020.
Meridian Hedged Equity Fund stated the following regarding Chevron Corporation (NYSE:CVX) in its Q1 2026 investor letter:
“Chevron Corporation (NYSE:CVX) operates as a globally diversified integrated energy company, with upstream crude oil exploration and production complementing its downstream refinement and retail operations. Our investment thesis is anchored in the company’s strict capital discipline, its highly efficient Permian Basin footprint, and the strategic benefits expected from the integration of recently acquired Hess Corporation. Together, these strengths support the potential for durable free-cash-flow generation, consistent dividend growth, and steady share repurchases across commodity cycles. Chevron’s stock benefited in March from a sharp rise in oil prices following supply disruptions, but performance was also supported by better-than-expected earnings earlier in the quarter. These results reinforced confidence in the company’s management team, operational strength and financial discipline. We maintained our position throughout the quarter.”
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