I initiated a position of 17 shares of Chevron purchased at $103/share. My YOC is right at 3.5%. My yearly dividend income will increase by $61.20. Chevron has increased it’s dividend for 25 straight years.
I’ve been watching Chevron for a couple of weeks, I should have bought yesterday on weakness but went ahead and pulled the trigger this morning. This purchase of CVX should compliment my shares of COP and I’d like to keep both equally weighted going forward.
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in petroleum operations, chemicals operations, mining operations, power generation and energy services. Upstream operations consist primarily of exploring for, developing and producing crude oil and natural gas; processing, liquefaction, transportation and regasification associated with liquefied natural gas; transporting crude oil by international oil export pipelines; transporting, storage and marketing of natural gas; and a gas-to-liquids project. Downstream operations consist primarily of refining crude oil into petroleum products; marketing of crude oil and refined products; transporting crude oil by pipeline, motor equipment and rail car, and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses and fuel and lubricant additives.