Written by Robert Kovacs


Chevron (CVX) is one of my favorite oil stocks, and the only one I’m doubling down on now. Three months ago, in May, I suggested that investors “just buy Chevron’s 5.7% yield and forget about it”.

Unsurprisingly, energy stocks have received no love since then, with much uncertainty remaining about how the Covid-19 pandemic is going to play out.

Source: Open Domain

CVX has declined by 8% since my previous article. The stock is currently trading at $85.08 and yields 6.06%. Our MAD Scores give CVX a Dividend Strength score of 89 and a Stock Strength score of 57.

Source: mad-dividends.com

Up until 2 months ago, Chevron had held up somewhat better than its peers. The price was even up about 8% from my last article at one point. But that wouldn’t last.

Chevron’s momentum has now soured, and is in line with that of

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Last year, oil major Chevron (NYSE: CVX) was a loser.

It had announced in April 2019 that it was buying Permian Basin oil and gas producer Anadarko Petroleum in a $33 billion cash and stock deal. Less than a month later, it abandoned its quest to acquire the company, outbid by rival oil and gas company Occidental Petroleum (NYSE: OXY)

But one year later, Chevron is the undisputed winner in this fight with its purchase of Noble Energy (NASDAQ: NBL). Here’s how Chevron turned a loss into a major win. 

A smiling man stands next to an oil barrel from which paper currency erupts.

Image source: Getty Images.

Until the ink’s dry

Chevron had been itching to secure additional acreage in the oil- and gas-rich Permian Basin, and buying Anadarko would have scratched that itch in a big way. Among other assets, Anadarko had 240,000 mostly contiguous acres in the Permian, the addition of which would have catapulted Chevron from the world’s

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