Dividends4Life: Chevron vs. Exxon Mobil; Possible Yelp Hookup

Dividend Growth Stocks News

Shares of Chevron (CVX - Get Report) are down 1.2% following a downgrade to sell from hold by an analyst at Goldman Sachs. Goldman also lowered its price target to $99 from $111. Analysts question how quickly Chevron can raise its dividend going forward, given its current dividend coverage, TheStreet's Jim Cramer, portfolio manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segment.

Instead, the analysts argue that Exxon Mobil (XOM - Get Report) is a better buy at the moment, he added. However, Cramer says that analysts at Goldman Sachs seem to be a little too pessimistic on their oil forecasts. Regardless, Chevron is a "great American company," he said, pointing out that John Stumpf, chairman and CEO of Wells Fargo (WFC) and a Chevron board member, bought a whopping $19.46 million worth of Chevron stock. So even though the company has stopped buying back its own shares, it has not prevented large buys from insiders.

Source: The Street

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