波克夏海瑟威的雪佛龍股票凸顯了能源巨頭的股息實力

2023年第四季度，華倫·巴菲特旗下的波克夏·哈撒韋公司增持了近1,600萬股雪佛龍（CVX）股票，成為這家能源巨頭的第二大股東。此舉反映了巴菲特對能源股的看好，以及雪佛龍4.2%的強勁股息殖利率，是標準普爾500指數殖利率的三倍多。雪佛龍已連續 37 年成為股息貴族，在經濟低迷時期（包括 COVID-19 大流行）仍維持股息。

Berkshire Hathaway's Confidence in Chevron: A Testament to Energy Giant's Dividend Strength

波克夏海瑟威對雪佛龍的信心：能源巨頭股利實力的證明

In a testament to the enduring appeal of dividend-oriented stocks, investment titan Warren Buffett's Berkshire Hathaway added a significant stake in Chevron (CVX) during the fourth quarter of 2023. This move underscores the company's unwavering commitment to high-yield investments and its belief in the long-term prospects of the energy sector.

為了證明股息導向股票的持久吸引力，投資巨頭沃倫·巴菲特的伯克希爾·哈撒韋公司在2023 年第四季度增持了雪佛龍(CVX) 的大量股份。此舉突顯了該公司對高收益投資的堅定承諾及其信念能源產業的長期前景。

Chevron, a global energy behemoth, has been a steadfast dividend payer, having increased its payouts for 37 consecutive years. This remarkable track record has earned it the coveted status of a "dividend aristocrat," a distinction reserved for companies that exhibit exceptional dividend consistency over a sustained period.

全球能源巨擘雪佛龍一直是堅定的股息支付者，已連續 37 年增加股利。這份非凡的業績記錄為其贏得了令人垂涎的「股息貴族」地位，這一殊榮是為那些在持續一段時間內表現出卓越股息一致性的公司保留的。

Buffett's endorsement of Chevron's dividend strength is particularly noteworthy considering the company's impeccable handling of the COVID-19 pandemic. Despite widespread dividend cuts and suspensions in the energy sector, Chevron remained steadfast in its commitment to shareholder payouts, prioritizing them even amidst cost-cutting measures. This unwavering dedication signals the company's financial resilience and its deep-rooted belief in the importance of dividend continuity.

考慮到雪佛龍對 COVID-19 大流行的處理無可挑剔，巴菲特對雪佛龍股息實力的認可尤其值得注意。儘管能源產業廣泛削減股利和停業，但雪佛龍仍然堅定地履行對股東派息的承諾，即使在削減成本的措施中也將其列為優先事項。這種堅定不移的奉獻精神標誌著公司的財務彈性以及對股息連續性重要性的根深蒂固的信念。

During the fourth quarter earnings call, Chevron's management provided a comprehensive overview of its dividend and capital allocation strategy. The company emphasized its relentless focus on capital efficiency and cost optimization, which has enabled it to generate superior cash flows and allocate them judiciously for shareholder rewards. Notably, Chevron's dividend growth over the past five years has outpaced that of the S&P 500 Index and even surpassed the dividend growth rate of its closest peer.

在第四季的財報電話會議上，雪佛龍管理層全面概述了其股利和資本配置策略。該公司強調其對資本效率和成本優化的不懈關注，這使其能夠產生優質的現金流並明智地分配它們以回報股東。值得注意的是，雪佛龍過去五年的股息成長率超過了標準普爾500指數，甚至超過了最接近的同業的股息成長率。

Chevron's dividend yield currently stands at an attractive 4.2%, significantly higher than the S&P 500's 1.3% yield. This substantial income stream provides investors with a compelling reason to consider Chevron as a core holding in their dividend portfolios.

雪佛龍的股息殖利率目前為頗具吸引力的 4.2%，遠高於標普 500 指數 1.3% 的殖利率。這種可觀的收入流為投資者提供了令人信服的理由，將雪佛龍視為其股息投資組合的核心持股。

Beyond its dividend allure, Chevron's outlook presents a compelling investment opportunity. The company's strong balance sheet and manageable leverage ratios provide financial stability during market volatility. The rise in crude oil prices has further bolstered Chevron's financial position, creating ample cash flow for dividend increases and share repurchases.

除了股息吸引力之外，雪佛龍的前景還提供了令人信服的投資機會。該公司強大的資產負債表和可控的槓桿率在市場波動期間提供了財務穩定性。原油價格的上漲進一步支撐了雪佛龍的財務狀況，為增加股利和股票回購創造了充足的現金流。

Analysts are overwhelmingly bullish on Chevron's stock, with a consensus rating of "Moderate Buy" and a mean target price 12.3% above its current level. The company's reasonable valuation, coupled with its strong dividend yield and positive outlook, makes it an attractive proposition for investors seeking a balanced blend of income and growth potential.

分析師普遍看好雪佛龍股票，一致評級為“適度買入”，平均目標價較目前水準高出 12.3%。該公司合理的估值，加上強勁的股息收益率和積極的前景，使其成為尋求收入和成長潛力平衡的投資者的有吸引力的選擇。

In conclusion, Warren Buffett's decision to add Chevron shares to Berkshire Hathaway's portfolio serves as a resounding endorsement of the company's dividend strength. Chevron's unwavering commitment to payouts, coupled with its solid financial standing and favorable industry outlook, positions it as an exceptional choice for income-oriented investors seeking long-term capital appreciation.

總之，華倫·巴菲特決定將雪佛龍股票加入波克夏·哈撒韋的投資組合中，是對該公司股息實力的有力認可。雪佛龍對派息的堅定承諾，加上其穩健的財務狀況和良好的行業前景，使其成為尋求長期資本增值的收入導向投資者的絕佳選擇。