Chevron (CVX) stock is outperforming the recent August stock market dip. At $160.90 per share as of Aug. 18, CVX stock is down 1.7% from $163.66 at the end of July. Meanwhile, the S&P 500 index ($SPX) is off -4.78% today at $4,369.71 vs. $4,588.96 on July 31.
The reason likely lies in the fact that Chevron has a low forward price/earnings (P/E) multiple of just 12.1x and a high dividend yield (3.78%). This makes CVX attractive to value investors who invest for the long term.
