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 21 points (+0.1%) at 16,672 as of Thursday, Aug 14, 2014, 10:36 a.m. ET. During this time, 71.2 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 302.3 million. The NYSE advances/declines ratio sits at 1,932 issues advancing vs. 935 declining with 202 unchanged.
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Friday, August 15, 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 $1.07 per share. At a price of $127.34 as of 10:36 a.m. ET, the dividend yield is 3.4% compared to the average Dow component yield of 2.6%.

The average volume for Chevron has been 5.3 million shares per day over the past 30 days. Chevron has a market cap of $241.34 billion and is part of the basic materials sector and energy industry. Shares are up 2.1% year-to-date as of Wednesday's close.

Chevron Corporation, through its subsidiaries, is engaged 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 12.1, 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 revenue growth, attractive valuation levels, largely solid financial position with reasonable debt levels by most measures, increase in net income and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

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