Dow Component Chevron (CVX) To Go Ex-dividend Tomorrow

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 up 69 points (+0.5%) at 15,160 as of Tuesday, May 14, 2013, 10:35 a.m. ET. During this time, 136.4 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 596.4 million. The NYSE advances/declines ratio sits at 1,913 issues advancing vs. 912 declining with 138 unchanged.
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Wednesday, May 15, 2013 is the ex-dividend date for Dow component Chevron (NYSE: CVX). Owners of shares as of market close today will be eligible for a dividend of $1 per share. At a price of $124.13 as of 10:35 a.m. ET, the dividend yield is 3.2% compared to the average Dow component yield of 2.6%.

The average volume for Chevron has been 5.7 million shares per day over the past 30 days. Chevron has a market cap of $238.88 billion and is part of the basic materials sector and energy industry. Shares are up 13.6% year to date as of Monday's close.

Chevron Corporation, through its subsidiaries, engages in petroleum, chemicals, mining, power generation, and energy operations worldwide. The company operates in two segments, Upstream and Downstream. The company has a P/E ratio of 9.3, equal to the average energy industry P/E ratio.
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TheStreet Ratings rates Chevron as a buy. The company's strengths can be seen in multiple areas, such as its attractive valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

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