Dow Dividend Stocks #6: Chevron (CVX)
A leader among energy dividend stocks, Chevron (CVX) experienced its fair share of ups and downs last year, but managed to push higher during the final weeks of the year to close with a 2013 return of more than 17%.
CVX stock has had a rough start to 2014, trading lower by about 7% alongside peers ConocoPhillips (COP) and Exxon Mobil (XOM). Fortunately, the company increased its dividend by 10 cents to $1.00 per share last year, which translates to a legitimate 3.4% yield.
In early January, CVX forecast that its fourth-quarter profit numbers will likely miss analyst expectations in its upcoming earnings report (scheduled for Jan. 31) due to decreased oil and gas production around the world.
However, an energy revolution is underway in the U.S. thanks to the fracking phenomenon, and Chevron stands to benefit greatly from the vast amount of natural gas beneath American soil. Investors can pick up CVX at about 11 times forward earnings and capture that solid quarterly dividend in early March for some additional income.