CVX - Chevron Corporation

NYSE - NYSE Delayed price. Currency in USD
115.18
-2.55 (-2.17%)
At close: 4:00PM EDT
Stock chart is not supported by your current browser
Previous close117.73
Open116.48
Bid115.24 x 800
Ask115.49 x 800
Day's range114.35 - 118.06
52-week range100.22 - 127.60
Volume7,464,242
Avg. volume5,566,163
Market cap218.66B
Beta (3Y monthly)0.82
PE ratio (TTM)14.92
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield4.76 (4.04%)
Ex-dividend date2019-08-16
1y target estN/A
Trade prices are not sourced from all markets
  • Reuters - UK Focus

    FOCUS-California rare earths miner races to refine amid U.S.-China trade row

    The owner of the only U.S. rare earths mine is going on a hiring spree as it looks to significantly boost production, part of a strategy to build out American refining capability after China raised tariffs on the minerals amid an escalating trade war. By next year, MP Materials aims to be the first U.S. company to refine rare earths since 2015 when Molycorp Inc, the former owner of California's Mountain Pass mine, went bankrupt, executives said. The mine has relied on China for rare earth processing, fueling national security concerns.

  • 3 Top Dividend Stocks With Yields Over 4%
    Motley Fool

    3 Top Dividend Stocks With Yields Over 4%

    Dividend investors have a lot to like about these companies.

  • U.S. Gasoline & Distillates Stocks Up, Cushing Supplies Slump
    Zacks

    U.S. Gasoline & Distillates Stocks Up, Cushing Supplies Slump

    The federal government's EIA report revealed that crude inventories fell by 2.7 million barrels for the week ending Aug 16.

  • Reuters - UK Focus

    MOVES-Glencore hires former PetroIneos executive for refining team

    Global miner and trader Glencore has hired former PetroIneos executive Mehdi Rghioui as a refining optimisation manager, according to his LinkedIn account and a source familiar with the matter. Rghioui worked for PetroIneos for more than seven years, most recently as head of supply optimisation, before joining Glencore in August. The Swiss-based commodities firm bought a majority stake in Chevron's South African subsidiary in April this year, the first refining asset it has owned in years.

  • BP Places 21 Bids in the Latest US Gulf of Mexico Lease Sale
    Zacks

    BP Places 21 Bids in the Latest US Gulf of Mexico Lease Sale

    BP tallies the second highest bids in the U.S. GoM lease sale 253, which receives 165 bids from 27 companies.

  • Are Energy Stocks XOM, CVX, RDS.A, and BP Attractive?
    Market Realist

    Are Energy Stocks XOM, CVX, RDS.A, and BP Attractive?

    Integrated energy stocks have slumped in August. Royal Dutch Shell has fallen the most compared to ExxonMobil, Chevron, and BP.

  • Bear of the Day: ExxonMobil (XOM)
    Zacks

    Bear of the Day: ExxonMobil (XOM)

    Bear of the Day: ExxonMobil (XOM)

  • Oil Markets On Edge Over Trade War Uncertainty
    Oilprice.com

    Oil Markets On Edge Over Trade War Uncertainty

    Oil markets are on edge as trade war uncertainty has once again taken center stage, with Mike Pompeo’s harsh comments about Huawei counteracted by wavier extension for the Chinese tech giant

  • The Zacks Analyst Blog Highlights: U.S. Silica, Chevron, AngloGold, Kinross and Barrick Gold
    Zacks

    The Zacks Analyst Blog Highlights: U.S. Silica, Chevron, AngloGold, Kinross and Barrick Gold

    The Zacks Analyst Blog Highlights: U.S. Silica, Chevron, AngloGold, Kinross and Barrick Gold

  • Oilprice.com

    Oil & Gas Industry Leads Forbes Profit Growth List In 2019

    The oil and gas sector on the Forbes 2019 list of the world’s biggest public companies saw the largest profit growth among the top 10 sectors on the list

  • Reuters - UK Focus

    INSIGHT-Climate change could rain on Saudi Aramco's IPO parade

    LONDON/DUBAI, Aug 20 (Reuters) - Saudi Aramco's biggest asset could also be a liability. In the three years since Saudi Crown Prince Mohammed Bin Salman first proposed a stock market listing, climate change and new green technologies are putting some investors, particularly in Europe and the United States, off the oil and gas sector. Aramco, for its part, argues oil and gas will remain at the heart of the energy mix for decades, saying renewables and nuclear cannot meet rising global demand, and that its crude production has lower greenhouse gas emissions than its rivals.

  • Here's Why 1 Analyst Prefers Chevron Stock Over ExxonMobil
    Motley Fool

    Here's Why 1 Analyst Prefers Chevron Stock Over ExxonMobil

    The answer can be summed up in a single word: Cash.

  • Will PetroChina Pull Out of Venezuela Amid US Sanctions?
    Zacks

    Will PetroChina Pull Out of Venezuela Amid US Sanctions?

    Amid political and economic unrest in Venezuela, PetroChina (PTR) suspends direct purchase of crude oil from the country.

  • Oil Prices Rise on Saudi Oilfield Attack: Winners & Losers
    Zacks

    Oil Prices Rise on Saudi Oilfield Attack: Winners & Losers

    A weekend attack on a Saudi oil facility by Yemeni separatists sends oil prices higher. Here's a rundown on big winners and losers from the oil price rally.

  • U.S. Oil Supplies Up for 2nd Week, Adds to Bearish Sentiment
    Zacks

    U.S. Oil Supplies Up for 2nd Week, Adds to Bearish Sentiment

    A U.S. government report reveals that crude inventories rose by 1.6 million barrels for the week ending Aug 9, very different to the 2.7 million barrels drawdown that energy analysts had expected.

  • ExxonMobil to Speed Up Exit From Offshore Oil Plays in Norway
    Zacks

    ExxonMobil to Speed Up Exit From Offshore Oil Plays in Norway

    The Norwegian oil and natural gas field asset sale may generate a huge sum of roughly $4 billion for ExxonMobil (XOM).

  • The Zacks Analyst Blog Highlights: ExxonMobil, Chevron and Royal Dutch Shell
    Zacks

    The Zacks Analyst Blog Highlights: ExxonMobil, Chevron and Royal Dutch Shell

    The Zacks Analyst Blog Highlights: ExxonMobil, Chevron and Royal Dutch Shell

  • Saudi Aramco Records Highest Ever Profits on Way to $100B IPO
    Zacks

    Saudi Aramco Records Highest Ever Profits on Way to $100B IPO

    Saudi Aramco, which could command a staggering valuation of $2 trillion when it makes stock market debut in 2020-2021, is the most profitable company in the world.

  • Chevron Falls 3%
    Investing.com

    Chevron Falls 3%

    Investing.com - Chevron (NYSE:CVX) fell by 3.10% to trade at $118.61 by 11:13 (15:13 GMT) on Wednesday on the NYSE exchange.

  • Bloomberg

    Saudi Aramco Puts the ‘Brief’ in ‘Briefing’

    (Bloomberg Opinion) -- Great thirty minutes, guys.Monday morning’s much-ballyhooed earnings call from Saudi Arabian Oil Co., or Saudi Aramco, was remarkable chiefly for its brevity. About 25 minutes in, the host was reminding people to get their questions into the queue. Just after 9:30 a.m. in New York, it was time for closing remarks.Aramco, the biggest oil major in the world, is owned by the government of Saudi Arabia, so the fact it was putting anyone on the line to talk about a published set of accounts is noteworthy. And, to be fair, they had blocked out an hour. Yet the call yielded little new information. That partly reflected the caliber of the questions, with the first amounting to “please explain why your company is so awesome.” But it was also a function of the usual reticence of major companies, compounded by the fact that this one is, after all, not merely unlisted but a virtual state within a famously secretive state.It was, therefore, entirely understandable that Aramco didn’t offer up much detail on plans to buy a 20% stake in the refining and chemicals business of India’s Reliance Industries Ltd., only made public a few hours before the call got underway.On the other hand, it was unfortunate that CFO Khalid Al-Dabbagh effectively dodged a decent question on Aramco’s capital expenditure and dividend policy. If, as recent reports suggest, Aramco still intends to go through with its IPO and this was a dry run for that, then questions about cash flow and dividends will be the ones that really matter.In a world where energy stocks have fallen out of favor because of a legacy of excess spending and concern about faltering demand growth, the majors are valued chiefly for their dividends. A public Aramco would be no different in this respect (see this).The first-half numbers just published confirmed Aramco is a cash-flow juggernaut, generating free cash flow after capex of almost $38 billion and paying its sole shareholder a dividend of more than $46 billion. The details beneath such numbers matter, though. After all, it’s immediately obvious that, despite generating more free cash flow in the first half than BP Plc, Chevron Corp., Exxon Mobil Corp., Royal Dutch Shell Plc, and Total SA combined, Aramco borrowed to pay that dividend to the government. While net debt is just 2% of capital employed, there was a $28 billion swing in net indebtedness in the space of 12 months. And Aramco’s capex in the first half looked low – which is why it was questioned – and Al-Dabbagh did allow that “timing” was one reason for that, suggesting it would rise in the second half of 2019.Roughly 40% of the first-half dividend was an outsize special payment predicated on 2018’s “exceptionally strong financial performance,” yet sitting oddly with a year-over-year decline in first-half profit. Coming alongside Aramco’s acquisition of the government’s majority stake in Saudi Basic Industries, or Sabic, this reinforces the sense that the company chiefly represents a financing channel for a government facing chronic deficits at current oil prices. To which one might respond: Duh, like, it’s a national oil company, what exactly did you think it was for?This is the central issue when it comes to Aramco’s valuation, however, because the closeness of that relationship with the government affects the risk premium on the company’s earnings. Taking the 12 months through June as a whole, Aramco’s capex of about $35 billion left it with free cash flow of about $88 billion, more than enough to fund $72 billion of dividend payments. Putting those on an Exxon-like yield of 5% implies a value of $1.45 trillion.Yet, assuming ordinary dividends are running at $52 billion a year – as the accounts suggest – about $20 billion of that payout is akin to the more discretionary buybacks oil majors use to distribute exceptional income. Aramco’s payout was 99% of earnings in the first half of 2019 versus just 52% a year earlier. That cyclical element should be priced at a discount to ordinary dividends, especially in light of Aramco’s role in Saudi Arabia’s public finances. Price the dividend at 6%, and the value drops to $1.21 trillion; at 7%, a shade higher than the yield for BP and Shell, it falls to $1.03 trillion.These are still very big numbers (and in line with the valuation I put together last year). They remain, however, far short of the $2 trillion valuation bragged about by Prince Mohammed bin Salman; and this despite those numbers reflecting, in part, an “exceptionally” strong year for the company.If Aramco’s owner still wants to get even close to a two in front of those twelve zeroes on the trading screen some day, then the company needs either a fundamental shift in the outlook for the oil market or a fundamental reappraisal of its ability to squeeze even more dividends out of that market. It has only some influence over the first option. The second would require at least a bit more time on the phone. Update: A typographical error in an earlier version of this story put Aramco’s implied valuation with a 6% dividend at $1.21 billion instead of $1.21 trillion.To contact the author of this story: Liam Denning at ldenning1@bloomberg.netTo contact the editor responsible for this story: Mark Gongloff at mgongloff1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Reuters - UK Focus

    Delek in talks to raise $300 mln ahead of Ithaca IPO

    Israel's Delek Group said on Monday it was in talks with a range of investors to raise up to $300 million ahead of a planned listing of its Ithaca Energy business. Delek said it was negotiating with investment funds, trading companies and international financial institutions to make a capital investment against an allocation of shares in Ithaca. In May, Delek moved closer to a listing of Ithaca when it bought out most of Chevron's British North Sea oil and gas fields for $2 billion.

  • Oilprice.com

    Trump Pushes Venezuela To The Brink

    The Trump administration has initiated a new set of sanctions on Venezuela which some analysts are seeing as a total economic embargo of the country

  • Income Investors Should Know That Chevron Corporation (NYSE:CVX) Goes Ex-Dividend Soon
    Simply Wall St.

    Income Investors Should Know That Chevron Corporation (NYSE:CVX) Goes Ex-Dividend Soon

    Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be...

  • Slumping Energy Stocks Post Attractive Dividend Yields
    Market Realist

    Slumping Energy Stocks Post Attractive Dividend Yields

    Royal Dutch Shell (RDS.A) stock has slumped 10.8% so far in Q3. Shell’s dividend yield has risen to 6.6%, the highest among its peers.

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