My portfolio had low exposure to Oil sector compared to some other sectors. I was looking at adding to my current position in COP, but was also looking to initiate a new position in either XOM or CVX.
I decided on Chevron (CVX) since this meant I was investing in a new company, but it was also attractive in terms of value. The stock has been growing dividends consistently and has a an yield of about 3.6%
I purchased 20 shares of CVX at $117.98 on 4/9/2014. CVX currently pays a dividend of $1.07/share which amounts to an yield of 3.63%. This purchase adds about $85.00 to my annual dividend going forward.