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Another great jobs report brings another big move upwards for the overall market, the overall jobless rate dropped to 7% and the consumer confidence reading hit a five month high. The S&P 500 (NYSEARCA:SPY) was down 0.04% on the week while the Nasdaq (NASDAQ:ONEQ) was up 0.06% on the week and Dow Jones Industrials Average Index (NYSEARCA:DIA) was down 0.4%.

For now, I will continue the course and purchase value stocks for my dividend portfolio. Value investing is the bread and butter of Warren Buffett's money-making strategy. The essence of value investing is basically purchasing a stock at less than market value based on certain metrics. My philosophy on dividend investing is to utilize the forward price to earnings ratio and use a one-year PEG ratio, along with a dividend. I don't necessarily look for a stock with a high yield because I like to see capital appreciation. Because the market is still at all-time highs I maintain that it is difficult to find good stocks these days. That's why I'm highlighting a select set of excellent value companies in my dividend portfolio, which have had ex-dividend dates or paid out a dividend during this past week or early next week that people should place on their radar.

Wells Fargo & Co (NYSE:WFC)

Wells Fargo is a bank holding company which operates in three segments: Community Banking, Wholesale Banking and Wealth, Brokerage and Retirement. On 11Oct13, Wells Fargo reported third quarter 2013 earnings of $0.99 per share. This result beat the consensus of the 31 analysts following the company by two cents and beat last year's third quarter results by 12.50%. The next confirmed earnings announcement is expected on 14Jan14. Wells Fargo's PE ratio is among the lowest of any stock in the regional banks industry and signals that investors have not been willing to pay a premium for this company's business prospects, making it a value story. Additionally, during the past year, earnings growth has outpaced its historical five year growth rate.

The company went ex-dividend on 06Nov13 with a $0.30 per share dividend which was paid on 02Dec13 for a yield of 2.72%. During the week the company found itself the subject of a lawsuit by the city of Los Angeles which claimed lost tax revenue due to alleged discriminatory mortgage lending practices.

Let's take a quick look at the technicals here to see if it can be bought at these levels or if a pullback is coming. As we can see, the relative strength index is in middle ground territory with a current value of 59.26, while the MACD chart below shows the black line crossing below the red line with downward trajectory and decreasing divergence bars, meaning there may be some downward pressure on the stock price. I anticipate the stock to drop for now and then I will evaluate again before buying shares.

(click to enlarge)

Phillips 66 (NYSE:PSX)

Phillips 66 is engaged in producing natural gas liquids and petrochemicals. 30Oct13, Phillips reported third quarter 2013 earnings of $0.87 per share. This result missed the $0.94 consensus expectations of the 16 analysts following the company and missed last year's third quarter results by 70.71%. Phillips' PE ratio is below the oil & gas operations industry average and signals that investors are not willing to pay a premium for this stock, making it a value story.

The company went ex-dividend on 12Nov13 with a $0.39 per share dividend which was paid on 02Dec13 for a yield of 2.19%. During the week the company announced a new $2 billion share repurchase program and said it expects a 40% rise in capital expense spending next year.

Let's take a quick look at the technicals here to see if it can be bought at these levels or if a pullback is coming. As we can see, the relative strength index is in overbought territory with a current value of 70.07, while the MACD chart below shows the black line crossing below the red line with downward trajectory and decreasing divergence bars, meaning there may be some downward pressure on the stock price. I anticipate the stock to drop for now and then I will evaluate again before buying shares.

(click to enlarge)

Occidental Petroleum Corp. (NYSE:OXY)

Occidental Petroleum Corporation is an oil & gas production company, which operates in three segments: Oil & Gas, Chemical, and Midstream, Marketing and Other. On 29Oct13, Occidental reported third quarter 2013 earnings of $1.97 per share. This result beat the consensus of the 24 analysts following the company by six cents and beat last year's third quarter results by 15.88%. Occidental's PE ratio is below the oil & gas - integrated industry average and signals that investors are not willing to pay a premium for this stock, making it a value story. However, during the past year, earnings growth has lagged its historical five year growth rate.

The company went ex-dividend on 06Dec13 with a $0.64 per share dividend which will be paid on 15Jan14 for a yield of 2.76%. During the week the company announced that it will build an ethylene plant in Texas and has tasked Chicago Bridge & Iron (NYSE:CBI) with engineering, procurement and construction of the new ethane cracker.

Let's take a quick look at the technicals here to see if it can be bought at these levels or if a pullback is coming. As we can see, the relative strength index is near oversold territory with a current value of 36.88, while the MACD chart below shows the black line below the red line with downward trajectory but the divergence bars are flattening out, meaning the bear run may be over. I like the stock in the near future as I believe it can move to the upside shortly.

(click to enlarge)

The Travelers Cos., Inc (NYSE:TRV)

The Travelers Companies, Inc. is engaged in providing a range of commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. On 22Oct13, Travelers reported third quarter 2013 earnings of $2.35 per share. This result beat the $2.07 consensus of the 26 analysts covering the company and beat last year's third quarter results by 5.86%. Travelers' PE ratio is below the insurance (prop. & casualty) industry average and signals that investors are not willing to pay a premium for this stock, making it a value story. Additionally, during the past year, earnings growth has outpaced its historical five year growth rate.

The company went ex-dividend on 06Dec13 with a $0.50 per share dividend which will be paid on 31Dec14 for a yield of 2.25%. During the week the company was cut to "neutral" at Goldman Sachs (NYSE:GS) stating the case for multiple expansion is increasingly difficult.

Let's take a quick look at the technicals here to see if it can be bought at these levels or if a pullback is coming. As we can see, the relative strength index is in middle ground territory with a current value of 56.81, while the MACD chart below shows the black line below the red line with downward trajectory but the divergence bars are increasing in height, meaning there is some bullish momentum in the stock. I like the stock in the near future as I believe it can move to the upside shortly.

(click to enlarge)

KLA-Tencor Corp. (NASDAQ:KLAC)

KLAC is engaged in the design, manufacture and marketing of process control and yield management solutions for the semiconductor and related nano-electronics industries. On 24Oct13, KLAC reported fiscal first quarter 2014 earnings of $0.68 per share. This result beat the consensus of the 16 analysts following the company by three cents and missed last year's first quarter results by 19.05%. KLAC's PE ratio is below the semiconductors industry average and signals that investors are not willing to pay a premium for this stock, making it a value story. However, during the past year, earnings growth has lagged its historical five year growth rate.

The company went ex-dividend on 14Nov13 with a $0.45 per share dividend which was paid on 02Dec14 for a yield of 2.87%. During the week the company took a fall as it said it forecasts lower bookings.

Let's take a quick look at the technicals here to see if it can be bought at these levels or if a pullback is coming. As we can see, the relative strength index is in middle ground territory with a current value of 47.57, while the MACD chart below shows the black line below the red line with downward trajectory but the divergence bars are increasing in height, meaning there is some bullish momentum in the stock. I like the stock in the near future as I believe it can move to the upside shortly.

(click to enlarge)

Conclusion

I've highlighted these names because they have all raised their dividend or initiated them within the past year and are poised to do so again in the coming years. It is important in this market to be able to hold onto companies which raise their dividend rates or initiated them, because it is a sign that the underlying company is doing well financially. The importance of these stocks I've highlighted is that they are value plays while the broader market is at all-time highs. I believe we are at a point in the market where we have to look for value.

Disclaimer: This article is meant to serve as a journal for myself as to the rationale of why I bought/sold this stock when I look back on it in the future. These are only my personal opinions and you should do your own homework. Only you are responsible for what you trade and happy investing!

Source: 3 Value Dividend Stocks To Consider Now And 2 To Wait On