This Unstoppable Dividend Aristocrat Could Be This Year's Best-Performing Dow Stock
The iconic Dow Jones Industrial Average has had a rough year. Overall, the leading market index has lost more than 15% of its value, weighed down by surging inflation and concerns about the U.S. economy. Meanwhile, many Dow components are down even more.
However, there are a few bright spots in the Dow this year. The best-performing Dow stock by a long shot is oil giant Chevron (NYSE: CVX). The Dividend Aristocrat has gained more than 25% on the year, well ahead of the next best performer Merck and its over 15% return. If this keeps up, Chevron could end up being the best Dow stock of 2022. Here's a look at what's fueling Chevron's surge.
Chevron has gotten 2022 off to a great start. The oil giant reported $6.5 billion of adjusted earnings in the first quarter, more than triple the $1.7 billion it pulled in during the year-ago period. The company's cash flow was even higher ($8.1 billion), enabling it to produce a gusher of free cash flow ($6.1 billion).
Source Fool.com
