3 Dividend Stocks to Double Up on Right Now: Lowe's, Exxon Mobil, and Chevron

Investors seeking reliable income and long-term growth should consider dividend stocks with attractive yields, strong growth prospects, and durable dividends. Lowe's Companies, Inc. (LOW), Exxon Mobil Corporation (XOM), and Chevron Corporation (CVX) stand out as top picks for doubling up on your investments. This article will delve into the key financial indicators, competitive advantages, and long-term prospects of these dividend stocks.

**Lowe's Companies, Inc. (LOW)**
- Dividend Yield: 2.1%
- Dividend Growth Rate: 15.8% (annualized over the past five years)
- Payout Ratio: 32% (as of Q1 2023)
- Return on Equity (ROE): 23.2% (TTM)
- Return on Assets (ROA): 11.4% (TTM)

Lowe's is a home improvement giant with a wide range of products and services, targeting both DIYers and professional contractors. Its strong market position, extensive distribution network, and brand recognition make it a Dividend King, having increased its dividend for 67 consecutive years. Lowe's robust cash flow generation, driven by steady same-store sales growth, enables it to maintain and increase its dividend even during economic downturns.

**Exxon Mobil Corporation (XOM)**
- Dividend Yield: 3.31%
- Dividend Growth Rate: 7.69% (annualized over the past five years)
- Payout Ratio: 65% (as of Q1 2023)
- Return on Equity (ROE): 18.9% (TTM)
- Return on Assets (ROA): 10.7% (TTM)

Exxon Mobil is a leading integrated oil and gas company with a strong track record of dividend growth, having raised its dividend for 38 consecutive years. Despite the energy transition, Exxon's commitment to oil and gas, coupled with its disciplined capital allocation and robust cash flow generation, supports its dividend durability. The company's strong balance sheet and strategic investments in renewable energy, such as its acquisition of a 25% stake in Renewable Energy Group, position it well for the future.



**Chevron Corporation (CVX)**
- Dividend Yield: 4.18%
- Dividend Growth Rate: 7.8% (annualized over the past five years)
- Payout Ratio: 70% (as of Q1 2023)
- Return on Equity (ROE): 21.9% (TTM)
- Return on Assets (ROA): 12.1% (TTM)

Chevron is another integrated oil and gas company known for its consistent dividend growth, having raised its payout for 35 consecutive years. Its large market share, high-quality assets, and strong balance sheet contribute to its economic moat and dividend durability. The company's planned acquisition of Hess Corporation (HES) adds another leg to its growth story, although arbitration around the deal has pushed its closing to 2025. Despite this uncertainty, Chevron's strong fundamentals and robust dividend growth prospects make it an attractive choice for income-oriented investors.



In conclusion, Lowe's, Exxon Mobil, and Chevron are dividend stocks that offer attractive yields, strong growth prospects, and durable dividends. Their competitive advantages, economic moats, and long-term strategic plans make them well-positioned to double up on your investments. By careful consideration of key financial indicators, investors can build a diversified portfolio that balances income and growth to meet their long-term financial goals.