Chevron Lubricants Plc had an unstoppable rally for many years. This is mainly due to their dividend yield. Which in turn had brought a lot of long term investors into it over the years. Presently it is at crossroads for global investors who had been holding on to it for years. The reason is that the interest rates profile in the global markets are changing. Also the latest attention to fixed income investments from equity investments have seen a change. Thus a bout of selling was evident in the counter ever since it hit an all time high of 460.00 in the early 2015. However the company's dividend record has been consistent, and is evident that it will not change. Coupled with consistent earnings growth, this counter is no doubt is one the best available for any local investor.
Along side the market's fall LLUB too had the bears in control, despite their expected earnings, and dividend growth. Ideally the stock would have taken support at 320.00, which was an important break out point in the past. But it was proved otherwise, as the bears brought it down to 313.00 yesterday. This downfall has made the RSI to fall to an all time low of 8.4 by the end of yesterday's trading. The prices appear to be very attractive given the present lower oil prices and the ability for them to show improved profits, leading them to maintain an improved dividend pay out. Adding this to your portfolio, at this juncture will be one of the ideal propositions.
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