Chevron (CVX) has an attractive 3.89% dividend yield and at $154.80 in early trading on July 18 it is cheap at 11.5x earnings. This makes CVX stock popular with value investors as well as traders who short out-of-the-money (OTM) puts.
Moreover, analysts still forecast strong cash flow and earnings for the company. For example, 24 analysts forecast that its Dec. 2023 earnings per share (EPS) will reach $13.27 per share. Barchart's survey of 9 analysts shows average EPS forecasts of $13.75. That puts CVX stock on a forward price/earnings (P/E) multiple of just 11.3x earnings.
