3 Dow Jones Industrial Average Stocks To Watch In The Stock Market Now
Dow stocks are referring to a group of publicly traded companies that track the Dow Jones Industrial Average (DJIA). For starters, the Dow Jones Industrial Average is often seen as a barometer for the overall health of the stock market and the economy. In detail, there are 30 Dow stocks, which are all large and well-established companies.
These stocks are typically less volatile than other types of stocks, and they often pay out high dividends. Notably, these include dividend-paying stocks like UnitedHealth Group Inc. (NYSE: UNH) and The Proctor & Gamble Company (NYSE: PG). In turn, dow jones industrial average stocks can be a good choice for investors who are looking for stability and income. However, because they tend to move in lockstep with the Dow, they can also be vulnerable to market downturns. With this in mind, here are three top dow 30 stocks to check out in the stock market today.
Dow Stocks To Watch Now
Chevron Corporation (CVX Stock)
First up, Chevron Corporation (CVX) is an American multinational energy corporation. In brief, Chevron is engaged in every aspect of the oil, natural gas, and geothermal energy industries, including hydrocarbon exploration and production; refining, marketing, and transport; chemicals manufacturing and sales; and power generation. The company’s operations are organized into two business segments: upstream and downstream. Chevron Upstream focuses on the exploration, development, and production of crude oil and natural gas. Meanwhile, Chevron Downstream focuses on the refining, marketing, and transportation of crude oil and finished petroleum products. Currently, CVX shareholders enjoy an annual dividend yield of 3.69%.
Back in July, the company reported stronger-than-expected second-quarter 2022 financial results. In their report, Chevron notched in earnings of $5.82 per share, with revenue of $68.8 billion. This is compared with analysts’ consensus estimates for Q2, which are earnings of $5.02 per share, and revenue of $55.1 billion. As a result, the company recorded a nearly 83% increase in revenue on a year-over-year basis. What’s more, cash flow from operations came in at $13.8 billion, while posting a free cash flow of $10.6 billion.
Aside from that, shares of CVX have outperformed the broader market so far in 2022 having gained over 29% as of Thursday’s lunchtime session. Meanwhile, on Tuesday shares of CVX stock are trading at $154.25 per share. Given the strong quarter, do you think Chevron is a good dow stock to buy right now?
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Salesforce Inc. (CRM Stock)
Next, Salesforce Inc. (CRM) is an American cloud-based software company headquartered in San Francisco, California. The company offers a customer relationship management (CRM) service and also provides a number of enterprise services. These include software as a service (SaaS), platform as a service (PaaS), and infrastructure as a service (IaaS).
Last month, Salesforce reported better-than-expected Q2 2023 financial results. However, the company did revise its full-year guidance. Getting straight to it, Salesforce reported second quarter 2023 earnings of $1.19, on revenue of $7.72 billion. Versus, Wall Street’s consensus earnings estimates of $1.02 per share, and revenue estimates of $7.7 billion. Aside from that, the company reported that revenue for the quarter grew by 21.8% on a year-over-year basis.
What’s more, Salesforce revised its full-year 2023 non-GAAP earnings per share to come in the range of $4.71 to $4.73 per share. Furthermore, the company reported revenue estimates in the range of $30.90 billion to $31.0 billion for the full-year fiscal 2023. Similar to most tech stocks in 2022, CRM stock is down over 39% year-to-date. With its recent strong quarter, it wouldn’t surprise me if investors are paying close tabs on Salesforce stock at these current price levels.
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Verizon Communications Inc. (VZ Stock)
Lastly, Verizon Communications Inc. (VZ) is a telecommunications company based in the United States. The company offers a wide array of products and services, including wireless, FiOS, and broadband. For a sense of scale, as of July 22nd, 2022, Verizon operates approximately 1,500 retail locations and its Verizon Consumer Group has more than 115 million retail connection users. As it stands today, VZ offers its shareholders an annual dividend yield of 6.30%.
In July, Verizon reported a miss for its second quarter 2022 financial results. In the report, the company posted an EPS of $1.31 per share, with a revenue of $33.8 billion. Meanwhile, analysts’ consensus estimates for the quarter were earnings of $1.34 per share and revenue of $33.8 billion. “As the market leader, in a very competitive industry, we are determined to improve our operational and financial performance for the second half of the year,” commented Verizon Chairman and CEO Hans Vestberg. “With our network-as-a-service foundation, our new consumer mobility plans, and recent pricing actions, we are being deliberate in our decisions to improve our profitable growth opportunities today and into the future.“
Moving along, year-to-date shares of VZ stock are still down 21% as of Thursday’s afternoon trading session. With that, Verizon stock is currently trading at $41.35 a share on Tuesday. Keeping all this in mind, do you think VZ stock is a good investment for your long-term portfolio right now?
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