Dow Today: Chevron (CVX) Lower

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

The Dow Jones Industrial Average ( ^DJI) is trading down 48.0 points (-0.4%) at 12,708 as of Wednesday, Nov 14, 2012, 11:35 a.m. ET. During this time, 302.8 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 598 million. The NYSE advances/declines ratio sits at 733 issues advancing vs. 2,191 declining with 116 unchanged.
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Holding back the Dow today is Chevron (NYSE: CVX), which is lagging the broader Dow index with a $1.21 decline (-1.2%) bringing the stock to $103.17. This single loss is lowering the Dow Jones Industrial Average by 9.16 points or roughly accounting for 19.1% of the Dow's overall loss. Volume for Chevron currently sits at 3.3 million shares traded vs. an average daily trading volume of 5.8 million shares.

Chevron has a market cap of $207.32 billion and is part of the basic materials sector and energy industry. Shares are down 0.4% year to date as of Tuesday's close. The stock's dividend yield sits at 3.4%.

Chevron Corporation, through its subsidiaries, engages in petroleum, chemicals, mining, power generation, and energy operations worldwide. It operates in two segments, Upstream and Downstream. The company has a P/E ratio of 8.7, below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Chevron as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and attractive valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

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