Chevron Corp (NYSE:CVX)

CAPS Rating: 5 out of 5

Provides administrative, financial, management and technology support to U.S. and foreign subsidiaries that engage in integrated petroleum operations, chemicals operations, mining operations, power generation and energy services.

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Member Avatar notyouagain (58.69) Submitted: 7/20/2014 4:58:00 PM : Outperform Start Price: $130.11 CVX Score: +1.85

I may have just joined the Fool but I'm not really new here. I've been coming here to read the articles, blogs, and comments for years.

CVX is my first pick, but it may be a few years before it beats the market. I believe it hit an all-time high on June 23rd at $133.57. I'm a long-term dividend investor, and I don't plan on trying to compete with the speculators and people that bank accuracy points, anyway. Yeah, I know how this all works.

That said...let's take a peek into the past...then the present, and possible implications.

Oh, it's relevant. Just give me a chance.

When Chevron climbed to over $79/share on July 31,1990, it was an all-time high. It closed that day at $79.38/share. So 100 shares bought at the closing price that day would have cost $7,938. At the time the dividend was $3.10/share and the dividend yield was 3.9%. Those 100 shares would have paid $310 annually in dividends.

In June 1994, those 100 shares of CVX had babies and became 200 shares...paying $1.84/share in dividends. And so our $7,938 initial investment was now raking in $369 in annual dividends. For our initial investment of $7,938, we now owned 200 shares that had cost us $39.69 apiece.

In September of 2004, those 200 shares had babies again, and now became 400 shares paying $1.60/share annually. Now our $7,938 was bringing in $640 annually, and we owned 400 shares that had cost us $7,938/400 = $19.84 apiece.

That's over an 8% yield on that original $7,938. That's far from the end of the story.

Today those 400 shares of CVX that cost $7,938 are worth over $52,000 and pay out $1,712 in annual dividends. That's a yield on our original investment of 21.5%, and it's a mighty fine, SAFE yield...the payout ratio is still only 39%.

And that still isn't the end of the story.

None of what we've looked at so far takes reinvested dividends into account.

GO to Yahoo!Finance. Look up CVX. Click on 'Historical Prices'.

Look at July 31, 1990. Look at the 'Adjusted Close' for July 31, 1990. What's it telling you? Do you know how this works?

The ACTUAL close for CVX on July 31, 1990 was $79.38.
The 'ADJUSTED' close was $8.67....what?

If you had bought shares at the closing price on July 31, 1990, and reinvested dividends from then until today...you would now own 915.5709 shares. Today they would be worth $119,381 and your annual dividend income would be $3,918. Your original investment of $7,938 divided by the 915.5709 shares you would now own would be $8.67.

Your annual dividend income of $3,918 would represent a yield of 49% on your original $7,938 investment.

Get it? This is what dividend investing is all about. You don't really give a rat's behind about short-term CAPS points.

So here we are again. Not too far off another all-time high. I just showed you an investment made at an all-time high 24 years ago. If someone made that investment, and reinvested dividends until now...they're feeling pretty smart.

This all-time high is much higher than the others.

Time for another split? What if you wait for the price to drop and you miss investing before it splits again - if it does?

This company has been a blockbuster for long-term dividend investors. It still is.

Yahoo!Finance lists its PE as 12.7, with a forward PE of 11.47.

Its $4.28 annual dividend gives it a 3.3% dividend yield at around $130/share. Its dividend payout ratio is still only 39%.

Its 'quick ratio' - its ability to pay its day-to-day expenses out of its cash on hand...is '1'.

'Current ratio' is '1.4'.

What about its debt?

Debt/equity is 0.15.

You don't worry about this company's ability to handle its $23.05B in debt.

It's total cash in the most recent quarter was $16.8B.

The reason nobody lists a figure for 'Interest Coverage' for CVX is because it's just ridiculous. The last time I knew a figure for 'interest coverage' for CVX was a couple years ago.

At the time it was more than 11,500. That means back then CVX earned more than $11,500 for every dollar it had to pay in interest expense.

Now nobody even lists a figure for it. Maybe it's even higher.

Return on equity is 13.2...that's only 5.5% higher than its return on assets. That's because in the absence of any financial leverage, return on equity WOULD be equal to return on assets.

This company is a wealth-creating machine. It's my first CAPS pick, even though in the short term it may not do well against the market.

But I happen to know CAPS figures its 'start' price the same way Yahoo!Finance figures its 'Adjusted Close'.

Over the years, my start price will never stop falling with every dividend payout.

That's called investing, my friends.

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Member Avatar BaseBawl (29.23) Submitted: 5/29/2014 9:44:04 AM : Outperform Start Price: $122.37 CVX Score: +5.51

4 more dogs of the dividend aristocrats that I didn't already have. Hudspeth.

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Member Avatar afewgoodstocks14 (51.60) Submitted: 5/16/2014 2:21:37 PM : Outperform Start Price: $109.28 CVX Score: +9.92

Div. (Yield) $4.28 (3.5%)

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Member Avatar wowdwarf2 (< 20) Submitted: 2/6/2014 1:57:40 PM : Outperform Start Price: $109.24 CVX Score: +9.95

200Bill + market cap
p/e under 10
and pays a hearty 3.7% Div wow
looks to be a tad over sold from this fools perspective

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Member Avatar dswinters (94.73) Submitted: 2/4/2014 9:48:46 AM : Outperform Start Price: $110.01 CVX Score: +7.97

Cheap and great dividend.

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Member Avatar louiegoods24 (95.80) Submitted: 1/31/2014 3:17:17 AM : Outperform Start Price: $111.94 CVX Score: +7.03

ICS Avinash

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Member Avatar Reddragyn (69.76) Submitted: 1/14/2014 4:07:14 PM : Outperform Start Price: $117.63 CVX Score: +5.59

Dog Test

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Member Avatar TheValueDude (51.86) Submitted: 1/9/2014 5:36:10 PM : Outperform Start Price: $120.40 CVX Score: +2.92

Screen: Over $10B, Top 10% EBIT/EV, Z Score >1.81

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Member Avatar rageaholic (< 20) Submitted: 1/7/2014 12:39:38 PM : Outperform Start Price: $123.02 CVX Score: +0.33

I think gas will bounce back and oil will remain strong as demand grows from the developing world.

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Member Avatar bassnman45 (33.51) Submitted: 1/3/2014 8:55:52 PM : Outperform Start Price: $63.55 CVX Score: -27.15

Buy, hold long term, maybe forever and monitor

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Member Avatar dlunas (62.85) Submitted: 11/22/2013 3:28:26 PM : Outperform Start Price: $121.90 CVX Score: -0.39

Benjamin Graham Bucket
Bargain Basement + Barchart Opinion

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Member Avatar afewgoodstocks11 (29.13) Submitted: 11/22/2013 1:14:19 PM : Outperform Start Price: $90.17 CVX Score: -16.38

Early pick of mine, and though it hasn't done 'well' i am committed to holding. 237 billion dollar company with low PE.

Div. (Yield) $4.00 (3.2%)
Current Yield 4.36%

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Member Avatar panda72 (99.86) Submitted: 11/19/2013 10:57:07 AM : Outperform Start Price: $119.69 CVX Score: +0.97

Real money pick - Dividend Aristocrats

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Member Avatar mobiusstrip (72.63) Submitted: 11/15/2013 12:04:16 PM : Outperform Start Price: $117.60 CVX Score: +2.86

stock price has been flat the past 2 years while the dividend is steadily increasing. Getting in at a 3.3% yield with a stock that has 10+% annual dividend growth and a payout ratio of about 33%. Long-term dividend player.

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Member Avatar Juliaflem (< 20) Submitted: 11/12/2013 12:42:24 PM : Outperform Start Price: $117.08 CVX Score: +1.67

I've owned CVX for 20 yrs. it's don well. Im a loyalist.

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Member Avatar Mathman6577 (28.45) Submitted: 11/12/2013 8:17:11 AM : Outperform Start Price: $117.96 CVX Score: +0.95

Long-term dividend grower. 4% yield. Lot's of cash flow

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Member Avatar Shankapotamus (37.63) Submitted: 10/9/2013 2:49:11 PM : Outperform Start Price: $113.20 CVX Score: -2.03

Technically oversold

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Member Avatar NickD (59.81) Submitted: 10/7/2013 10:54:28 AM : Outperform Start Price: $115.00 CVX Score: -1.97

Good.

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Member Avatar kevday (99.06) Submitted: 9/22/2013 11:42:38 AM : Outperform Start Price: $121.46 CVX Score: -6.50

Non-financial large value with low P/B, ht Mark Hulbert

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Member Avatar WCWlooky (22.85) Submitted: 7/27/2013 10:06:14 PM : Outperform Start Price: $123.12 CVX Score: -9.21

The increased use of horizontal drilling for the production of Oil and Natural gas liquids will be money makers even if oil prices decline and they will make a lot if prices increase, Increases likely due to the never ending problem in the Middle East. Play the right companies right here in U.S. and cash in.

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