Oil stocks have fallen out of favor in recent years. Investors have shied away from the sector due to climate change concerns and its volatility. That's causing them to miss out on some high-quality dividend stocks.

However, one investor who isn't missing out on the oil industry's dividends is Warren Buffett. His company, Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), has amassed a massive stake in oil giant Chevron (NYSE: CVX). It pays an attractive dividend that currently yields 3.2%, double that of the S&P 500. Because the high-yielding Chevron is one of Buffett's largest holdings, it will provide Berkshire with over $900 million of annual dividend income.

Here's why you won't want to overlook one of Buffett's favorite dividend stocks.

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Source Fool.com