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

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

The Dow Jones Industrial Average ( ^DJI) is trading down 93.0 points (-0.6%) at 15,358 as of Wednesday, Aug 14, 2013, 10:35 a.m. ET. During this time, 100.2 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 564 million. The NYSE advances/declines ratio sits at 1,170 issues advancing vs. 1,601 declining with 150 unchanged.
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Thursday, August 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 $121.97 as of 10:35 a.m. ET, the dividend yield is 3.3% compared to the average Dow component yield of 2.6%.

The average volume for Chevron has been 5.6 million shares per day over the past 30 days. Chevron has a market cap of $235.32 billion and is part of the basic materials sector and energy industry. Shares are up 13.3% year to date as of Tuesday'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 9.9, 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 largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.

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