5 Dividend Stocks to Buy According to Jim Simons’ Renaissance Technologies

1. Chevron Corporation (NYSE:CVX)

Renaissance Technologies Stake Value: $837,740,000

Chevron Corporation (NYSE:CVX), an American multinational energy industry company, was the fifth-largest holding of Renaissance Technologies in Q2. The hedge fund owned a stake in the company worth $838 million, up from $134 million in the previous quarter. The company accounted for 0.99% of Jim Simons’ portfolio.

Chevron Corporation (NYSE:CVX) has been raising its dividends consistently for the past 35 years. The company pays a quarterly dividend of $1.42 per share and the stock has a yield of 3.45% as of August 29.

In August, BMO Capital raised its price target on Chevron Corporation (NYSE:CVX) to $180 with an ‘Outperform’ rating on the shares, appreciating the company’s operational performance, asset base, and financial strength.

At the end of Q2, 59 hedge funds tracked by Insider Monkey were bullish on Chevron Corporation (NYSE:CVX), up from 53 in the previous quarter. The stakes owned by those hedge funds had a total value of over $26 billion. Warren Buffett, Ken Fisher, and Ken Griffin were some of the company’s most prominent stakeholders in Q2.

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

You can also take a look at Ray Dalio’s Bridgewater Associates Portfolio: Top 10 Dividend Stocks and 10 Best Renewable Energy Stocks to Buy and Hold for the Next 10 Years

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