Top 10 Dividend Stocks

2. Chevron Corporation (NYSE:CVX)

Dividend Yield as of July 25: 3.94%

Chevron Corporation (NYSE:CVX) is an energy industry company that has operations in over 180 countries. In Q1 2022, the company reported cash and cash equivalents of over $340.7 million, with total assets amounting to $2.62 billion. The company has been growing its dividends for the past 35 years consistently. It currently offers a quarterly payout of $1.42 per share, with a dividend yield of 3.94%, as of July 25. Its payout ratio sits at 51.1%.

In July, HSBC upgraded Chevron Corporation (NYSE:CVX) to Buy from Hold with a $167 price target, expecting the company to raise its buyback guidance.

At the end of Q1 2022, 53 hedge funds in Insider Monkey’s database owned stakes in Chevron Corporation (NYSE:CVX), the same as in the previous quarter. The combined value of these stakes is nearly $28 billion. Warren Buffett, Ken Fisher, and Ken Griffin were some of the company’s prominent stakeholders in the first quarter.

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