12 Best Oil and Gas Dividend Stocks According to Billionaires

4. Chevron Corporation (NYSE:CVX)

Number of Billionaire Holders: 14

Dividend Yield as of March 28: 4.1%

Chevron Corporation (NYSE:CVX) is the second-largest integrated energy company headquartered in the United States. Through its subsidiaries and affiliates, the company produces crude oil, natural gas, and many other essential products.

Chevron Corporation (NYSE:CVX)’s revenue surged by 10.7% YoY to $52.23 billion in Q4 2024, as the industry giant increased its worldwide and US production by 7% and 19%, respectively, to record levels last year. However, the company’s adjusted EPS of $2.06 narrowly missed expectations by $0.05 as weak margins dragged its refining business into a loss for the first time in the last four years.

Chevron Corporation (NYSE:CVX) maintains a robust balance sheet and generated $31.5 billion in operating cash flow and $15 billion in free cash flow in FY 2024, ending the year with a net debt ratio of 10%. The oil and gas company returned a record $27 billion in cash to its shareholders in 2024 and increased its quarterly dividend by 4.9% to $1.71 per share, maintaining a 38-year streak of consistent dividend growth, which makes it one of the best dividend stocks in the oil and gas sector.

It was revealed earlier this month that Chevron Corporation (NYSE:CVX) has acquired a 4.99% stake in Hess Corp since the start of the year, reflecting its confidence in completing the planned acquisition of Hess, which it agreed to back in October 2023.

CVX was also included in our list of the 25 Best Dividend Stocks to Buy According to Billionaires.