10 Dogs of the Dow Dividend Stocks to Invest in

2. Chevron Corporation (NYSE:CVX)

Dividend Yield as of December 17: 4.41%

Chevron Corporation (NYSE:CVX) is a California-based energy company that specializes in oil and gas. The company reported strong earnings for the third quarter of 2024, with revenues reaching $50.67 billion, surpassing analysts’ expectations by $1.63 billion. It also achieved a 7% increase in global production compared to the previous year, totaling almost 3.4 million barrels of oil equivalent per day (BOE/d). This growth was fueled by record production in the Permian Basin and the acquisition of PDC Energy.

Chevron Corporation (NYSE:CVX) is popular among investors as the company has grown into one of the leading energy firms globally. It invests billions annually to expand its operations, leveraging both organic growth and acquisitions to fuel its expansion. These investments contribute to increased profitability and cash flow. In the third quarter of 2024, the company generated $9.7 billion in operating cash flow, up from $6.3 billion in the prior quarter. Additionally, it returned $7.7 billion to shareholders through dividends and share buybacks during the quarter.

Chevron Corporation’s (NYSE:CVX) dividend growth streak currently spans over 37 years, which makes it one of the best Dogs of the Dow dividend stocks. The company’s quarterly dividend comes in at $1.63 per share and has a dividend yield of 4.41%, as recorded on December 17.

By the end of Q3 2024, Chevron Corporation (NYSE:CVX) was held in 63 hedge fund portfolios, a slight decrease from 64 in the previous quarter, according to Insider Monkey’s database. The total value of the stakes held by these hedge funds surpasses $21 billion.