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Chevron Corporation (NYSE:CVX) is an integrated energy company with worldwide exploration, production, and refining operations. It is the second-largest oil company in the United States, producing 3.1 million barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.8 million barrels of liquids a day.
The company will report its Q2 2024 earnings on Aug. 2, before the market opens. Wall Street analysts expect the energy giant to post an EPS of $3.08, in line with the figure in the year-ago period. According to data from Benzinga Pro, quarterly revenue is expected to be $50.86 billion, up from $48.90 billion in the year-ago period.
The 52-week range of Chevron’s Stock price was $139.62 to $171.70.
Chevron stock’s dividend yield is 4.13%. It paid $6.53 per share in dividends during the last 12 months.
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Oil stocks dropped recently as Kamala Harris’s potential presidential run sparked concerns over stricter fossil fuel regulations. Investors are concerned that Vice President Kamala Harris could take a tougher stance on the oil and gas industry if she becomes the Democratic presidential nominee and wins the White House race.
As California attorney general, Harris filed lawsuits against fossil fuel companies, supported reducing greenhouse gas emissions, and pushed for a ban on fracking, according to Offshore Technology. Harris has also been critical of offshore oil exploration and defended California’s Low Carbon Fuel Standard.
In May, Hess (NYSE:HES) shareholders approved a $53 billion Chevron deal. But the pending deal is in potential jeopardy amid Exxon’s (NYSE:XOM) claim to a right of first refusal over Hess’ assets in Guyana under a joint operating agreement that governs a massive offshore oil patch called the Stabroek Block. Exxon filed for arbitration in March to defend the rights it claims under the joint operating agreement. Chevron and Hess have told investors the pending deal would terminate if Exxon prevails. Hess Corp. said that the deal’s completion depends on the resolution of the arbitration proceedings. The companies are working to complete the merger “as soon as practicable,” according to Hess.
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How Can You Earn $100 Per Month As A Chevron Investor?
If you want to make $100 per month –$1,200 annually – from Chevron dividends, your investment value needs to be approximately $29,055, which is 184 shares at $158.15 each.
Understanding the dividend yield calculations: When estimating, you need two key variables – the desired annual income ($1,200) and the dividend yield (4.13% in this case). So, $1,200 / 0.0413 = $29,055 to generate an income of $100 per month.
You can calculate the dividend yield by dividing the annual dividend payments by the stock’s current price.
The dividend yield can change over time due to fluctuating stock prices and dividend payments on a rolling basis.
For instance, assume a stock that pays $2 as an annual dividend is priced at $50. Its dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). A drop in stock price to $40 will have an inverse effect and increase the dividend yield to 5% ($2/$40).
In summary, income-focused investors may find Chevron stock an attractive option for making a steady income of $100 per month by owning 184 shares of stock. There may be more upside to come as investors benefit from the company’s consistent dividend hikes. Chevron has raised its dividend consecutively for the last 36 years.
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This article How To Earn $100 Per Month From Chevron Stock originally appeared on Benzinga.com