Dec. 28 at 2:50 PM
$CVX CVX can fund the very best of opportunities and operate more cost-efficiently. More specifically, it means that deeper-pocketed Chevron can afford to operate a more complex business that includes drilling, refining, and transportation, which allows it to safely maintain its dividend and required capital expenditures even if oil prices dip to
$50 per barrel. The company can cover all of its upstream production costs with oil priced as low as
$30 per barrel, in fact, making it one of the most cost-effective players in the energy business. More importantly to interested income investors, it means Chevron's track record of 38 years of uninterrupted annual dividend growth should remain uninterrupted well into the indefinite future. Newcomers will be plugging in while its forward-looking yield stands at just under 4.6%.
