The year end projection just changed again from $94.06 to $95.00 this week. The projection was in the eigties$ a few months ago. Oil is a commodity, commodities are good to hold now. I am going to sell about 100 cvx shares soon to realize some profit but holding the majority. When is the calendar cutoff for 4th quarter dividend earnings?
I am not ready to sell at this price, and I think CVX is loosely tracking the price of oil per barrell. It seems to me like Chevron may hit $100, but I would consider selling in the $96-98 area - gotta leave some meat on the bone for the pigs. On a completely different note, I have never heard so much double talk out of the analyst community in my life. They are universally bullish and yet they just cannot bring themselves to believe that the market is going to go way up. Personally, I think we are going to have a huge run. In order for the average investor to "feel" wealthy, this market has to go past its old high - my guess is 30% from here. This would cause people to sell stock, pay taxes and keep the "recovery" going. This is what Obama wants and this seems to be what is happening. This Clinton style rally will be very similar to the 90s - maybe more so because of all of this stimulus and the fact that the market has not done much for the past 10 years for the average investor.
This stock is once again poised to break through $100. With the excellent dividend and just outstanding resources, don't listen to the dumpers. I have had CVX as a core stock in my portfolio for years and it has treated me very well. I would also ad that I think the next run, next year should lead to another increase in the terrific dividend and a stock split as well.
If you're a short term holder, do what you want. You'll never time the market.
agree with everything except for the "$100 soon" prediction...the stock has run almost straight up from $67 in early July...to give some time for the fundamental realities in the company to catch up, typically there is a downward correction of $10-15 before another such spectacular rise...but i hope you're right and i'm wrong