I initially started a position back in May with CVX that I posted here.
I decided to add to that position this morning. I bought 19 shares of CVX @ 104.62. This was just slightly more than my original purchase.
I believe CVX offers a fair value. They have 25 years of consecutive dividend increases. They have a 5-year CAGR of 9.0% and offer a current yield of about 3.5%. I see CVX and COP as long-term holdings and would like to keep them nearly equally weighted in the long-run.
Some other companies I'm watching closely for new or additional purchases are: KMI, PM, CAT, MCD, NSC, INTC, VOD
I like the purchase.
ReplyDeleteThis is a high quality oil major that has a long history of richly rewarding shareholders. Great entry yield, strong history of growth, and strong fundamentals. Not a lot to dislike.
Best wishes!
Hi DM,
DeleteThanks for stopping buy. I agree with you about there not being much to dislike. I think CVX will be rewarding shareholders with dividends for a very long time.
Take care.
I like the CVX purchase. I've been waiting for it to come back down to around $100 and if it can drop a little bit more I might be picking up some shares. The only thing stopping me from doing it yet is that oil/gas companies make up a huge portion of my portfolio. Especially with my ESPP shares, but I can start selling those off next June to get the long-term capital gains rate on everything over my contribution.
ReplyDeleteI agree that CVX is very attractive around $100. I figure a few dollars difference in price won't mean much 20 years from now. I might grab more if it goes below $95. I did end up making another purchase today that I'll be posting soon.
DeleteThanks for stopping by!