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Chevron is Paying $7.6 Billion to Bulk Up its Oil Business. Time to Buy This Top Warren Buffett Stock?

Chevron is Paying $7.6 Billion to Bulk Up its Oil Business. Time to Buy This Top Warren Buffett Stock?

Chevron (NYSE: CVX) is making a big splash. The oil giant has agreed to acquire PDC Energy (NASDAQ: PDCE) in an all-stock deal valuing the oil and gas producer at $7.6 billion, including the assumption of debt. The company expects the highly complementary transaction will be accretive to all its key financial metrics, including adding $1 billion to its annual free cash flow.