Chevron Corporation (NYSE:CVX) is included among the Best Crude Oil Stocks to Buy According to Hedge Funds.
An aerial view of an oil rig at sea, the sun glinting off its structure.
A top choice for investors looking for passive income, Chevron Corporation (NYSE:CVX) returned a record $27 billion to its shareholders in 2024. The company has been growing its dividends for 38 consecutive years and boasts an annual dividend yield of 4.38%, putting it among the 11 Dogs of the Dow Dividend Stocks to Buy Now.
Chevron Corporation (NYSE:CVX) recently made headlines after it completed the acquisition of Hess for roughly $53 billion, adding the latter’s coveted 30% stake in the Stabroek Block in offshore Guyana to the company’s portfolio. The Warren Buffett-backed company already boasts the lowest breakeven levels in the sector at around $30 per barrel, and the integration of the new high-value assets from Hess should help the company grow its production while maintaining low costs.
To make sure it can thrive even during low-priced environments, Chevron Corporation (NYSE:CVX) remains focused on capital discipline and reducing costs. The oil and gas giant is targeting $2 billion – $3 billion in structural cost savings by the end of 2026, and its CapEx budget for 2025 represents a $2 billion reduction from last year.
Chevron Corporation (NYSE:CVX) manufactures and sells a range of high-quality refined products, including gasoline, diesel, marine and aviation fuels, premium base oil, finished lubricants, and fuel oil additives.
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Disclosure: None.
