Purchases of More BP and CVX

I first purchased CVX back in April 2013. In fact, CVX was one of the original stocks I bought when I switched my portfolio from ETFs to individual stocks. My entire portfolio had a value of around $30,000 at that time. It really wasn’t that long ago, but it is now around 4 times that amount! Pretty amazing stuff.

I had initially purchased 25 shares of CVX at 118.79/share. I then collected 1.5483 shares worth of dividends since that initial purchase. With yesterday’s recent drop in oil stocks, I purchased an additional 14 shares at 108.279/share. This not only lowers my cost basis in the stock to 115.40 but also brings in an additional $59.92 in annual dividends.

The purchase of CVX was within my Roth. I still have another $4,000 to contribute in 2015. As stated in the goals for 2015, I’ll probably buy MA and/or BEN with that remaining amount. My goal is to get as big an unrealized gain as I can in the Roth. Dividend income can then come later.

Another recent purchase was another oil company, BP. I first purchased 50 shares of BP at 42.0096/share in October 2013. With the drop in oil stocks in November 2014, I added an additional 47 shares at 41.86/share. Altogether I have purchased an additional 3.1903 shares via reinvestment of dividends.

This latest purchase of BP was at an even better price point. Yesterday I bought 55 shares of BP at 36.34/share. This purchase lowers my cost basis to 40.23 and also brings in an additional $132 in annual dividends.

My forward 12-month dividends are now $3,673.49 ($306.12/month). I am $426 away from my goal annual dividends in 2015. I remain invested in 26 companies.

Company Symbol Shares Price Yield Expected Annual Dividend
BP BP 55 36.34 6.6% $132
Chevron CVX 14 $108.279 3.95% $59.92

Forward 12-Month Dividends: $3,673.49 ($306.12/month).

Full disclosure: Long BP, CVX

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4 Responses

  1. FerdiS says:

    Nice buys. I added to my CVX holdings towards the end of last year — it was my first purchase for DivGro in 2013. The oil price may continue to drop and further impact oil stocks, but when it recovers, CVX should recover quickly and make these buys GREAT ones…

    I don’t own BP in DivGro.
    FerdiS recently posted…Monthly Review, December 2014My Profile

  2. DivHut says:

    Thanks for sharing your recent buys with us. Energy continues to make the headlines and is still popular among many of the dividend bloggers though I do see other purchases starting to be made outside the energy sector. Perhaps many of the blogger portfolios are too heavy in oil. Both CVX and BP are on my watch list. I think over the next year or two you’ll be happy with these buys.
    DivHut recently posted…Dividend Income Update – December 2014My Profile

    • scott says:

      Thanks, DivHut! Unless something drastic happens, these might be my last energy purchases for awhile. I have too many other ideas and sectors that I’m excited to invest in. Regardless, I think we might be in for some rough times in the energy sector in the short-term but longer-term it should work out great!

  3. Nice buys, both of them -CVX and BP- are good options on the long term and well valuated at the moment. In my case, I don’t know if buy more CVX or initiate a position in BP.

    cazadividendos recently posted…El tijeretazoMy Profile

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