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 up 74 points (+0.5%) at 15,875 as of Tuesday, Feb 11, 2014, 10:35 a.m. ET. During this time, 78.2 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 379.5 million. The NYSE advances/declines ratio sits at 1,956 issues advancing vs. 903 declining with 187 unchanged.
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Wednesday, February 12, 2014 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 $112.77 as of 10:35 a.m. ET, the dividend yield is 3.6% compared to the average Dow component yield of 2.7%.

The average volume for Chevron has been 5.9 million shares per day over the past 30 days. Chevron has a market cap of $215.49 billion and is part of the basic materials sector and energy industry. Shares are down 10.6% 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 10.1, 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 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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