Investors have had a rough go of it this year. The S&P 500 is down 20% since the year started, while the tech-heavy Nasdaq Composite is down 34% and firmly in a bear market. If you're an investor looking for passive income in these market conditions, one stock worthy of your consideration, and one that Warren Buffett bought, is Chevron (NYSE: CVX).

Chevron has done a stellar job of raising its dividend payout for decades. Even during the pandemic, when oil prices plummeted, Chevron was one of the few oil and gas companies that maintained and even increased its dividend payout. Here's why this Buffett stock can be a stellar source of passive income in the bear market.

Chevron runs a balanced business in the oil and gas industry, making the stock less volatile than its peers. Its upstream operations include exploring, producing, and transporting crude oil and natural gas.

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Source Fool.com