Chevron (CVX): A Dividend Growth Opportunity

WTI crude oil price has had a wild ride these past few years. It had been as high as $109 per barrel in 2013 and as low as $0 per barrel during the COVID-19 pandemic in March 2020. These oil price volatilities brought down the stock price of many oil companies during this time frame. However, since March 2020, WTI crude oil prices have recently climbed to a high of $60 per barrel. Where there is a lot of price fluctuations, there are opportunities. Today, I want to discuss a great company, Chevron Corporation (CVX) that provides an excellent opportunity for dividend growth investors in the oil sector. 

Chevron - A Dividend Growth Opportunity

Chevron (CVX) – A Dividend Growth Opportunity

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As with the price of WTI crude oil, Chevron’s stock price was not immune to volatility. For example, in 2014, the price per share for Chevron was as high as $133.88, but in 2015, it went down to $73.09 per share. It eventually went back up to $130 before the COVID-19 pandemic when the stock price plunged again. This was when the price of WTI per barrel went to $0. Chevron was the one of the three worst performing Dow Jones stocks in 2020. Furthermore, Chevron started 2021 as one of the Dogs of the Dow.

As you see, Chevron’s stock price does tend to follow the price of WTI per barrel. This chart is from StockRover*. However, this is where the opportunity for long term dividend growth investors come in for those interested in Chevron.

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