How To Earn $500 A Month From Chevron Stock Ahead Of Hess Deal Closing
Portfolio Pulse from Avi Kapoor
Chevron Corporation's (NYSE:CVX) stock closed slightly higher despite a drop in crude oil prices. The company is progressing towards a $53 billion all-stock deal to acquire Hess (NYSE:HES), expected to close in early 2024. The FTC has requested additional information regarding the merger. UBS analyst Josh Silverstein maintains a Buy rating on Chevron but lowered the price target from $194 to $185. Chevron's Q3 total revenues exceeded consensus, and its dividend yield stands at 4.01%. The article also explains how investors can earn monthly income from Chevron's dividends based on the current yield.
December 22, 2023 | 1:31 pm
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NEUTRAL IMPACT
Hess is in the process of being acquired by Chevron in a $53 billion all-stock deal. The FTC's request for more information may cause some uncertainty, but the deal is still on track for early 2024 completion.
The acquisition by Chevron could be a significant change for Hess, but the FTC's request for additional information introduces some uncertainty. However, since the deal is expected to close without major issues, the short-term impact is likely neutral.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
Chevron's stock closed higher, with a Buy rating from UBS despite a lower price target. The company's strong Q3 earnings and solid dividend yield may attract investors, especially with the upcoming Hess acquisition.
The positive earnings report and the maintained Buy rating from UBS, despite a lower price target, suggest confidence in Chevron's performance. The upcoming acquisition of Hess could provide future growth opportunities, making the stock attractive in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90