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S&P 500   4,071.70
DOW   34,429.88
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This Skill Could Change The Way You Trade! (Ad)pixel
Estonia to buy US rocket artillery system in $200M deal
Russia rejects $60-a-barrel cap on its oil, warns of cutoffs
This Skill Could Change The Way You Trade! (Ad)pixel
UK arrests wealthy Russian as police target Putin enablers
Moldova signs new energy deal that could ease blackout risk
The single greatest medical breakthrough of all time? (Ad)
Tennessee roads plan mulls toll lanes, electric car fee hike
OPEC+ oil producers face uncertainty over Russian sanctions
S&P 500   4,071.70
DOW   34,429.88
QQQ   292.55
Get Rid of Your Siri Remote Once and for All This Year
This Skill Could Change The Way You Trade! (Ad)pixel
Estonia to buy US rocket artillery system in $200M deal
Russia rejects $60-a-barrel cap on its oil, warns of cutoffs
This Skill Could Change The Way You Trade! (Ad)pixel
UK arrests wealthy Russian as police target Putin enablers
Moldova signs new energy deal that could ease blackout risk
The single greatest medical breakthrough of all time? (Ad)
Tennessee roads plan mulls toll lanes, electric car fee hike
OPEC+ oil producers face uncertainty over Russian sanctions
S&P 500   4,071.70
DOW   34,429.88
QQQ   292.55
Get Rid of Your Siri Remote Once and for All This Year
This Skill Could Change The Way You Trade! (Ad)pixel
Estonia to buy US rocket artillery system in $200M deal
Russia rejects $60-a-barrel cap on its oil, warns of cutoffs
This Skill Could Change The Way You Trade! (Ad)pixel
UK arrests wealthy Russian as police target Putin enablers
Moldova signs new energy deal that could ease blackout risk
The single greatest medical breakthrough of all time? (Ad)
Tennessee roads plan mulls toll lanes, electric car fee hike
OPEC+ oil producers face uncertainty over Russian sanctions

Should you still buy Chevron's stock ex-dividend?

Key Points

  • Analysts are generally bearish on Chevron over the short-term, and expect its stock price to reach lower levels.
  • This is despite the company reporting growth in its top and bottom lines last quarter.
  • So there are both pros and cons to buying Chevron ex-dividend.
Should you still buy Chevrons stock ex-dividend?

The ex-dividend date for Chevron (NYSE: CVX) has passed, which was November 17.

Investors might be wondering if the stock is still worth buying despite not receiving a dividend in December. 

There are some valid considerations for both sides of the argument, so let’s look at the bull and bear case for scooping up Chevron’s shares.

What the Bears Say

There are a few things that go against the idea of buying Chevron ex-dividend.

The first is that its quarterly dividend of $1.42 per share was a strong selling point. That gave it a dividend yield of 3.02% at the time of writing, which is considered high.

Another is that consensus on Wall St is that its stock price will fall to $178.60. This gives it a downside of 3.5% at the time of writing.

Analysts also forecast Chevron’s earnings to decrease 9.10% in the coming year, from $19.12 to $17.38 per share.

And then finally, Chevron insiders over the last quarter have sold $40,107,731 worth of stock, which is another bearish signal.

What the Bulls Say

Despite the predicted downturn in the company's earnings, the consensus is that analysts still consider Chevron a moderate buy. 

Breaking down the numbers is that 13 analysts rate this stock a buy. This is compared to seven analysts rating it as a hold, and one analyst rating it as a sell.


Another positive is that Chevron increased its top and bottom lines in its third-quarter results for 2022.

Total revenues increased from $44,710 million to $66,644 million year over year (yoy) for the reported period. Net income also received a boost, growing from $6,115 million yoy to $11,238 million.

Other wins from the report were its return on capital employed (ROCE) growing to 25%, up from 14.3% in the previous corresponding period.

Chevron also considerably strengthened its balance sheet during the reported period. Total assets grew from $239,535 to $259,735 million. Total debt shrank from $31,369 million to $23,641 million.

This and other figures on the balance sheet are reflected in its net debt ratio contracting from 15.6% to 4.9%, meaning strong resiliency and deleveraging of the business.

The Bottom Line

Over the short term, Chevron’s stock price appears to be headed lower. But over the long-term, its altitude is not so clear cut.

The company has made strong improvements in its fundamentals, which include growing its top and bottom lines for the reported period.

Its deleveraged balance sheet also means it’s prepared to ride out some turbulence if the US enters a recession. But if a soft landing eventuates, it could use this room on its balance sheet for additional capital expenditure to ultimately return more value to shareholders over the long term.

Should you invest $1,000 in Chevron right now?

Before you consider Chevron, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Chevron wasn't on the list.

While Chevron currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Chevron (CVX)
2.6301 of 5 stars
$181.03-0.8%3.14%10.30Moderate Buy$183.32
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Matthew North

About Matthew North

Contributing Author: Technology, Technical Analyst

Matthew is a freelance writer and equity analyst who started out by writing coverage on the cryptocurrency market and on emerging technologies. His work on artificial intelligence has been published by the NewScientist magazine and he is a former contributor to FXStreet. Before becoming an analyst, Matthew was a team member of several prominent startups in the crypto and fintech space. Matthew now specializes in covering companies in the technology sector and seeks to uncover stocks and entries with an asymmetric risk to reward ratio.
Contact Matthew North via email at darknetnz@gmail.com.