What Bear Market? This Top-Performing Dow Stock Has Thrived in 2022.
The Dow Jones Industrial Average has been on a tear recently. The market index rallied 20.4% from its bottom at the end of September to the last day of November. As a result, it has technically exited bear market territory. However, it's still down about 5% for the year, while other market indexes have fallen even further.
Throughout all that volatility, one thing has remained constant: Oil giant Chevron (NYSE: CVX) has outperformed its fellow Dow members by surging more than 55% this year. That's by far the best performance in the Dow (Merck is second with a 43% gain). Here's a look at whether the company can continue delivering attractive returns for investors.
Chevron is having a record-breaking year, with $11.2 billion in net profit in the third quarter, nearly double what it produced in the year-ago period and slightly below the record $11.6 billion profit in the second quarter. Meanwhile, cash flow from operations reached a record $15.3 billion in the third quarter.
Source Fool.com
