Dow Today: Chevron (CVX) Leads The Day Higher, Goldman Sachs Group (GS) Lags
The Dow component that led the way higher today was Chevron (NYSE:CVX), which sported a $1.33 gain (+1.1%) bringing the stock to $127.63. Holding the Dow back today was Goldman Sachs Group (NYSE:GS), which lagged the broader Dow index with a 59-cent decline (-0.3%) bringing the stock to $173.96.
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) closed up 81 points (+0.5%) at 16,919. During the day, 255.4 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 301.6 million. The NYSE advances/declines ratio closed at 1,954 issues advancing vs. 1,082 declining with 162 unchanged.
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The Dow component that led the way higher today was Chevron (NYSE: CVX), which sported a $1.33 gain (+1.1%) bringing the stock to $127.63. This single gain lifted the Dow Jones Industrial Average by 10.07 points or roughly accounting for 12.4% of the Dow's overall gain. Volume for Chevron ended the day at 3.8 million shares traded vs. an average daily trading volume of 5.3 million shares. Chevron has a market cap of $239.46 billion and is part of the basic materials sector and energy industry. Shares are up 1.1% year-to-date as of Monday's close. The stock's dividend yield sits at 3.4%. 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. 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.