12-13-2014, 02:40 PM
CVX is at or very close to a safe valuation. Morningstar rates fair value at $124 and 'consider buying' at $99. In my experience, anything that close to 'consider buying' is a bargain.
Then consider current yield of 4%. That is very close to what it was at the lows of 2008-09, when WTI got down to the low 30s. CVX continued to make money and raise its dividend then, and I think now will be no different. I have started nibbling.
Then consider current yield of 4%. That is very close to what it was at the lows of 2008-09, when WTI got down to the low 30s. CVX continued to make money and raise its dividend then, and I think now will be no different. I have started nibbling.