#2 - Chevron (NYSE:CVX)
Energy stocks remain one of the best areas to look for value in this volatile market. That’s a good reason to look at Chevron (NYSE:CVX). Even with the market volatility, CVX stock is up 43% in 2022. Chevron has been a favorite of many MarketBeat analysts. And on the company’s last earnings call it reported a 10% year-over-year increase in domestic oil and gas production.
However, Chevron is more than just a play on high oil and gasoline prices. The company is taking steps to increase its production of liquefied natural gas (LNG). And the company is also looking to invest in other alternative energy projects where it believes it can add value.
The company has increased its dividend for 35 consecutive years. It currently pays out $5.68 on an annual basis which works out to a dividend yield of 3.37%.
About Chevron
Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.
Read More - Current Price
- $142.85
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 14 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $175.19 (22.6% Upside)
