5 Dividend Stocks to Buy According to Lee Munder Capital Group

Page 5 of 5

1. Chevron Corporation (NYSE:CVX)

Dividend Yield as of June 30: 3.86%
Lee Munder Capital Group’s Stake Value: $20,238,000

Chevron Corporation (NYSE:CVX) is a California-based energy company that manufactures high-quality refined products, including gasoline, diesel, and other fuels. During Q1 2022, Lee Munder Capital Group bought 124,288 CVX shares, valued at over $20.2 million. The company represented 1.17% of the hedge fund’s portfolio.

According to Insider Monkey’s database, 53 hedge funds were bullish on Chevron Corporation (NYSE:CVX) in Q1, the same as in the previous quarter. Those stakes held a collective value of roughly $28 billion. Warren Buffett’s Berkshire Hathaway was the company’s leading shareholder in Q1, owning stakes worth nearly $26 billion.

Chevron Corporation (NYSE:CVX) holds a 35-year track record of consistent dividend growth. The company has raised its dividend at a CAGR of 5.07% over the past five years. Its quarterly dividend stands at $1.42 per share, with a yield of 3.86%, as of June 30. In June, Credit Suisse raised its price target on Chevron Corporation (NYSE:CVX) to $202, with an ‘Outperform’ rating on the shares, highlighting the company’s disciplined strategy.

ClearBridge Investments mentioned Chevron Corporation (NYSE:CVX) in its Q1 2022 investor letter. Here is what the firm had to say:

“The energy sector, which led a strong market in 2021, generated even more dramatic relative performance in the quarter, advancing 39% and leading the benchmark Russell 1000 Value Index. Years of restrained investment in the energy sector, combined with a strong post-pandemic recovery, contributed to the higher commodity prices. The upward pressure escalated with the Russian invasion of Ukraine. Our energy holding Chevron (NYSE:CVX) benefited from higher commodity prices and was among the top contributors to first-quarter performance.”

You can also take a look at 11 Best Crypto Stocks To Buy Now and 10 Best Fertilizer Stocks To Buy Now

Page 5 of 5