5 Stock Picks to Beat the Market Slump

3. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 59 

Year-to-Date Price Gains: 21.39%

Chevron Corporation (NYSE:CVX) is an energy company working to explore, develop, produce, and transport crude oil and natural gas. The company is based in San Ramon, California.

On September 12, analyst Ryan Todd at Piper Sandler reiterated an Overweight rating on Chevron Corporation (NYSE:CVX) shares. The analyst also raised his price target on the stock from $189 to $190.

Chevron Corporation (NYSE:CVX) is a strong dividend-payer with a one-year dividend growth rate of 5.95% and a dividend yield of 3.9%. The company’s EPS is expected to rise by 13.34% over the next three to five years, and it has grown its revenue by 77.62% year over year.

Chevron Corporation (NYSE:CVX) had 59 hedge funds long its stock in the second quarter, with a total stake value of $26 billion. In comparison, 53 hedge funds were long the stock in the previous quarter, with a total stake value of $27.9 billion.