Best Retirement Portfolio for a 65-Year-Old

6. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 81

Number of Consecutive Years of Dividend Growth: 38

Average 5-Year Share Price Returns: 139.53%

Chevron Corporation (NYSE:CVX), a leading oil and gas company, is a great fit for the best retirement portfolio because of its strong financial foundation, 38-year track record of dividend growth, and nearly 140% average 5-year returns as of March 24. Chevron and Engine No. 1 disclosed on January 28 that they are launching a new company together, focused on providing reliable, large-scale power solutions for US data centers using natural gas. Partnering with GE Vernova, they plan to build a multi-gigawatt power plant and data center, set to be operational by 2027. The project aims to generate up to 4 GW of power, which can cater to 3-3.5 million homes without straining the existing grid.

Chevron Corporation (NYSE:CVX) reported its Q4 results at the end of January 2025, with $3.2 billion in earnings, an increase from $2.3 billion in the same quarter last year. Adjusted earnings came in at $3.6 billion, a notable drop from $6.5 billion in Q4 2023. The quarter included $715 million in severance costs and $400 million in impairments, while foreign currency gains added $722 million. The company made significant plays in the Gulf of Mexico and Kazakhstan, initiated the high-pressure Anchor project, and repurchased over $15 billion in shares. Chevron also wrapped up asset sales in Canada, the Republic of Congo, and Alaska while pushing forward with its acquisition of Hess Corporation.

On January 31, Chevron Corporation (NYSE:CVX) declared a $1.71 per share quarterly dividend, a 4.9% increase from its earlier dividend of $1.63. The dividend was distributed on March 10.

According to Insider Monkey’s Q4 data, Chevron Corporation (NYSE:CVX) was part of 81 hedge fund portfolios, compared to 63 funds in the preceding quarter. Warren Buffett’s Berkshire Hathaway was the biggest stakeholder of the company, with 118.6 million shares valued at $17.2 billion.