5 Dividend Aristocrats to Buy for 2022

2. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 51

Dividend Yield: 4.53%

Number of Years of Consecutive Dividend Growth: 34

Chevron Corporation (NYSE:CVX), an American multinational energy corporation, posted solid Q3 results on October 29. EPS in the quarter equaled $2.96, topping estimates by $0.77. Revenue over the period jumped 82.86% to $44.71 billion, exceeding estimates by $3.86 billion. 

Chevron Corporation (NYSE:CVX) is one of the top dividend aristocrats to buy for 2022, with a forward yield of 4.53%, reporting consecutive dividend growth throughout 34 years. 

RBC Capital analyst Biraj Borkhataria on November 24 upgraded Chevron Corporation (NYSE:CVX) to Outperform from Sector Perform with a price target of $145, up from $130. The analyst observed that Chevron Corporation (NYSE:CVX) is in a position to benefit from a “strong” commodity cycle over the coming years, and its business plans “suggest much more stability in its portfolio than peers.” 

Fisher Asset Management is one of the largest Chevron Corporation (NYSE:CVX) stakeholders, holding a $634.45 million position in the company in the third quarter. Overall, 51 hedge funds were long Chevron Corporation (NYSE:CVX) in Q3, up from 50 funds in the prior quarter. 

Here is what ClearBridge Investments has to say about Chevron Corporation (NYSE:CVX) in its Q1 2021 investor letter:

“While reducing in health care and consumer staples, we increased our exposure to high-quality names in economically sensitive areas of the market. We added to low-cost, high-quality energy names, (including) Chevron. We are positive on the company’s strong balance sheets, competitive positions and exposure to an economic recovery.”