Warren Buffett 2024 Portfolio: Top 5 Stock Picks

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This article presents an overview of the Warren Buffett 2024 Portfolio: Top 5 Stock Picks. For a detailed overview of such stocks, read our article, Warren Buffett 2024 Portfolio: Top 12 Stock Picks.

5. Chevron Corp (NYSE:CVX)

Warren Buffett’s Stake: $18,808,080,506

Berkshire Hathaway has been enjoying dividend payments from oil giant Chevron Corp (NYSE:CVX) for years as the firm first bought a position in Chevron Corp (NYSE:CVX) in the last quarter of 2020. In the fourth quarter of 2023 Berkshire increased its holding in Chevron Corp (NYSE:CVX) by nearly 15%.

Chevron recently announced a 7.9% increase in its dividend.  Earlier this month Chevron Corp (NYSE:CVX) posted Q4 results. Adjusted EPS in the quarter came in at $3.45, beating estimates by $0.23. Revenue fell 16.5% year over year to $47.18 billion, missing estimates by $6.02 billion.

The London Company Large Cap Strategy stated the following regarding Chevron Corporation (NYSE:CVX) in its fourth quarter 2023 investor letter:

“Chevron Corporation (NYSE:CVX) – CVX underperformed during 4Q as oil prices fell, 3Q results missed expectations, and CVX negatively adjusted 2024-2025 cash flow guidance for its key asset in Kazakhstan. It is also notable that CVX announced a deal to acquire Hess Corp in a stock-for-stock transaction. While we generally do not maintain a high degree of exposure to pure commodity businesses, we continue to view CVX favorably for its conservative balance sheet, focus on returns, and commitment to the dividend.”

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