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Chevron's robust dividend at 3.09% makes this company an interesting blue chip even near a 52 week high. Chevron's metrics are fairly average, its P/E is sub-10, but a little high relative to its peers. But the 1.6 current ratio and 0.1 debt to equity mean that it has more flexibility with its debt than Petrobras (0.4), Statoil (0.5), Total (0.5), Exxon Mobil (0.1, but 0.9 Current ratio), BP (0.4), and Marathon Oil Corp (0.3) and Marathon Petroleum Corp (0.3). I am leery of the high current price, but with that dividend, Chevron would outperform, especially with high oil prices, except for one problem. Litigation is currently ongoing in Brazil regarding spills from Chevron offshore rigs, which could have major repercussions for the company. I would want a bargain on this stock as long as this situation is continuing.
I agree for the most part. However, the oil majors have demonstrated an ability to reduce the impact of major litigation over time (BP with Macondo, Exxon Valdez, BP pipeline spill, etc...). The "Headline number" of potential litigation losses may have created a price drop beyond what the actual losses will be. I think this will be a little overblown as well, and have an "up thumb" on CVX due to all the metrics you have listed in your paragraph. -We shall see.
Thanks for the reply, that's certainly true. Brazil's government is a bit of a wild card in my opinion as evidenced by the preferential treatment they're giving Petrobras on environmental issues, but there won't be a huge impact on Chevron solely based on this, other problems would have to surface.