5 Best High-Yield Dividend Stocks for Retirees in 2022

2. Chevron Corporation (NYSE:CVX)

Dividend Yield as of August 21: 3.60%

An American multinational energy company, Chevron Corporation (NYSE:CVX) reported an operating cash flow of over $13.7 billion in Q2 2022, up from $8 billion in the previous quarter. The company’s free cash flow generation was also stable, standing at $10.6 billion, compared with $6 billion in Q1. Its revenue for the quarter jumped by 82.9% year-over-year to $68.7 billion.

In 2022, Chevron Corporation (NYSE:CVX) extended its dividend growth streak to 35 years. It pays a quarterly dividend of $1.42 per share, with a dividend yield of 3.60%, as of August 21.

On August 10, Credit Suisse initiated its coverage of Chevron Corporation (NYSE:CVX) with an Outperform rating and an unchanged price target of $202.

The number of hedge funds owning stakes in Chevron Corporation (NYSE:CVX) grew to 59 in Q2 2022, from 53 in the previous quarter, as recorded by Insider Monkey. These stakes own a combined value of over $26 billion.

Diamond Hill Capital mentioned Chevron Corporation (NYSE:CVX) in its Q1 2022 investor letter. Here is what the firm has to say:

“Other top contributors in Q1 included multinational energy company Chevron Corp. (NYSE:CVX). The company benefited from increased energy demand as COVID-related economic restrictions eased in tandem with concerns regarding supply interruptions related to Russia’s invasion of Ukraine.”