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Chevron Corporation (CVX)

NYSE - NYSE Delayed Price. Currency in USD
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116.20+1.79 (+1.56%)
At close: 04:02PM EST
117.45 +1.25 (+1.08%)
Pre-Market: 07:30AM EST
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  • E
    Enigma
    The giant oil companies aren't planning to use their wealth to return drilling activity to pre-pandemic levels — at least not yet. Instead, Chevron (CVX) and its rivals are focused on heeding investor demands to return more value to shareholders through quarterly dividends and share buybacks.
    Chevron to increase spending on new oil projects by 20 percent next year [Houston Chronicle]
    BY Tribune Content Agency
    — 3:03 PM ET 12/02/2021
    Dec. 2—Chevron plans to boost spending on new drilling projects as oil demand and prices recover from the global pandemic.

    The California oil giant said it plans to spend $15 billion on capital projects and exploratory drilling next year, an increase of more than 20 percent from 2021 levels. Chevron's (CVX) capital expenditure budget, however, is at the low-end of its earlier projections, and is still lower than pre-pandemic levels of $19 billion to $22 billion.

    "The 2022 capital budget reflects Chevron's (CVX) enduring commitment to capital discipline," CEO Mike Wirth said. "We're sizing our capital program at a level consistent with plans to sustain and grow the company as the global economy continues to recover."

    Big Oil has benefited from aggressive cost cutting during the pandemic and stronger oil demand and prices since coronavirus vaccines became available. Chevron (CVX) made $6.1 billion during the third quarter, its best quarterly performance in eight years.

    The giant oil companies aren't planning to use their wealth to return drilling activity to pre-pandemic levels — at least not yet. Instead, Chevron (CVX) and its rivals are focused on heeding investor demands to return more value to shareholders through quarterly dividends and share buybacks.

    Chevron (CVX) said it will buy back $3 billion to $5 billion of shares annually, compared with an earlier projection of $2 billion to $3 billion. The company, which raised its quarterly dividend in April by 5 cents, has raised its dividend by 12 percent since the start of the pandemic, the biggest increase among its peers. Chevron (CVX) paid $2.6 billion in dividends during the third quarter.

    "We're a better company than we were just a few years ago. We're more capital and cost efficient, guided by a clear and consistent objective to deliver higher returns and lower carbon," Wirth said. "And this enables us to return more cash to shareholders."

    Chevron (CVX) said it plans to spend $12.6 billion on new exploration and production projects next year, split evenly between U.S. and international projects. About $8 billion will be allocated to currently producing wells, including about $3 billion for the Permian Basin of West Texas and $1.5 billion for other shale plays worldwide.

    About $3 billion of the upstream budget is planned for new projects, including Chevron's (CVX) Tengiz project in Kazakhstan. About $1.5 billion will be allocated to exploration projects, transportation and carbon reduction ventures.
    Bullish
  • P
    Paula
    CVX cannot seem to hold $17.50 and maintain momentum to get to a new one year high. I would think CVX should eventually reach $20 with the $74-$80 per barrel price. But for now CVX needs to hold the above $17 going into the end of day close. The last 5 minutes of the day seems to always take away day gains.
  • C
    Cigardon
    According to Reuters, Chevron is increasing share buybacks (more than previously announced) and are raising their spending on more drilling. Dec 1st article.
  • T
    TinCanSailor22
    Callon Petroleum Company
    Interesting that the new "variant" news drops literally a day after the SPR news. Probably just a coincidence. Very Interesting though....nothing to see here. No corruption or collusion. Matters none in the end because OPEC+ holds all the cards since they are the world's primary producers now since JB Administration crushed US domestic Oil & Gas. Oil is going to $100+ in 2022.......you can take that to the bank. $CPE $LPI $FANG $CVX
    Bullish
  • D
    Drill-Horizontal
    Interesting action since Friday. End of the world…..to no biggie, whatever. All over the weekend. Watching the “news” which loves the panic… makes it hard to stay objective. Need to focus on the numbers only.

    If Iran, Iraq, Libya, Venezuela, and the US don’t crank up production, oil prices are indeed going higher for “awhile”. Until the elec. Revolution starts making a dent into demand. Have always needed a long term view when it comes to oil and oil stocks. A lot to it. Can’t just go out and “drill a well”, even if you already have the land, mineral rights, money and permits. For example I am working on a small field now and the first thing you need to do…in the field…is to make roads through the mountains and woods where I am, just to get the rig to desired locations. Not so easy, especially in bad weather. Almost slid off into a ravine…..getting too old for this s$&it.

    Anyway, just a little perspective from a longtime petroleum engineer. Hope it helps. Buy and hold CVX.
  • H
    Hike Rates! Inflation Skyrockets
    $^FTSE conversation
    DESPITE Major financial Failures from the US Companies (Apple, Amazon, Intel, Honeywell, IBM, Snap Scam), the US Government continues to PUMP the US Stock Prices Artificially.
    NASDAQ Composite Ponzi Scheme was 4800 in 2016 with much better fundamentals and better economy.
    How that Fraudulent NASDAQ Composite index got PUMPED from 4800 to 15000 in no time, Despite Collapsing Economy, Tanking Corporate Revenues, Record high corporate Loss, Record Number of Bankruptcies, Astronomical Record High Debt levels, increasing international competition for each $1 revenue, Skyrocketing Inflation, Spreading Pandemic, Political Polarization, Limited Real Resources and most importantly Insane Overvaluation in the US Stock Market?!!!
    Dow Jones Industrial Average (^DJI) was 17,000 in 2016, with better economic fundamentals and higher corporate earnings. However, thanks to the Collapsing Economy, Coronavirus Pandemic, Tanking Corporate revenues and earnings, Skyrocketing unemployment, Trade Wars, Record INFLATION levels, and Heavy Stock Dilutions, Dow Jones Industrial Average (^DJI) PONZI SCHEME has almost Doubled!
    S&P 500 (^GSPC) was at 1600.00 with better fundamentals and higher corporate earnings in 2016. Now it is sitting at ABSURD 4300.00 with TERRIBLE Fundamentals, Collapsing Economy, HEAVIER Corporate and National Debt and way lower corporate revenues and earnings!
    The World Economy is Collapsing, people are starving, but the US Government is too busy in printing money and PUMPING the Stock prices Artificially to make insiders trillionaire without working!
    ENJOY ABSURD COMPANY VALUATIONS, While the Economy is COLLAPSING and Corporate Revenues are TANKING!
    Enjoy Free Capital Gains in the US Stock Market while the Corporate Revenues are tanking and the Economy is Collapsing! US Stock Market is a “GET QUICK RICH” Scheme!
    The World Countries are refusing to accept the US Dollar as international reserve currency due to the HEAVY Dollar PRINTING!
    US Stocks are INSANELY OVERVALUED and OVERBOUGHT! US Stock Market is a MEGA PYRAMID SCHEME right now!!!

    $AMD $NVDA $AMZN $AAPL $SQ $SHOP $SNAP $TWLO $CRM $ROKU $ADBE $DB $BAC $JPM $MS $GS $TWTR $TSLA $IBM $INTC $MSFT $GOOG $LMT $BA $TXN $NXPI $LRCX $NKE $DIS $EBAY $X $MA $V $S $T $F $GM $NFLX $CSCO $CAT $MMM $SBUX $TGT $WMT $ATVI $EA $TTWO $MCD $AVGO $JNJ $BIDU $BZUN $BABA $MU $AMAT $QCOM $WFC $BBBY $PFE $GE $WDC $BLK $KO $UA $ABBV $GILD $BB $ORCL $RH $KEM $IQ $GRPN $PYPL $MA $MOMO $JD $WBA $CVS $FB $W $BBY $SKX $FL $EFX $ETSY $W $UNH $SAP $GPRO $KHC $DPZ $PEP $LYFT $UBER $BYND $ZM $OLED $XOM $CVX $DAL $UAL $AAL $LUV $SAVE $AXP $SPCE $NCLH $CCL $NKLA $NIO $XPEV

    https://www.businessinsider.com/national-debt-problem-of-free-money-stimulus-checks-covid-relief-2021-1?r=DE&IR=T
    The debt crisis in the US is similar to global warming — it is an incremental but enormous phenomenon that could trigger disaster at any given point.
    The debt crisis in the US is similar to global warming — it is an incremental but enormous phenomenon that could trigger disaster at any given point.
    www.businessinsider.com
    Bearish
  • S
    Sandor Clegane
    Call me skeptical on this bs oil selloff.. they're trying to tell us that oil went from shortages and releasing supplies from the strategic reserves, to a glut - in ONE day!? Sounds more like manipulating hedge funds took out all the stop losses in oil futures.
    Bullish
  • T
    TinCanSailor22
    Callon Petroleum Company
    The IEA & JB Administration acting out in lockstep means the oil situation is a coming shortage. They know this & are trying to get ahead of the shortage they created (in purpose) by dumping blame on OPEC+. They drive oil higher to promote their "Green Deal" but can protect themselves politically by making OPEC+ the "fall guys". Accumulate, Hold then Watch & Learn. I guarantee oil is heading to $100+ in 2022+. The energy stocks will roar. $CPE $LPI $FANG $CVX
    Bullish
  • K
    Kevin/B
    I can smell the end of COVID. Each mini crisis event is becoming less and less of a factor. Everyone has made their decision on vaccination. Just fund and staff hospitals to deal with the anti-vaxxer`s and send them the bill.

    There is still easy money to made made
  • A
    Artificial Stock PUMPING by FED
    $^FTSE conversation
    NASDAQ Composite Ponzi Scheme was 4800 in 2016 with much better fundamentals and better economy.
    How that Fraudulent NASDAQ Composite index got PUMPED from 4800 to 15000 in no time, Despite Collapsing Economy, Tanking Corporate Revenues, Record high corporate Loss, Record Number of Bankruptcies, Astronomical Record High Debt levels, increasing international competition for each $1 revenue, Skyrocketing Inflation, Spreading Pandemic, Political Polarization, Limited Real Resources and most importantly Insane Overvaluation in the US Stock Market?!!!
    Dow Jones Industrial Average (^DJI) was 17,000 in 2016, with better economic fundamentals and higher corporate earnings. However, thanks to the Collapsing Economy, Coronavirus Pandemic, Tanking Corporate revenues and earnings, Skyrocketing unemployment, Trade Wars, Record INFLATION levels, and Heavy Stock Dilutions, Dow Jones Industrial Average (^DJI) PONZI SCHEME has almost Doubled!
    S&P 500 (^GSPC) was at 1600.00 with better fundamentals and higher corporate earnings in 2016. Now it is sitting at ABSURD 4300.00 with TERRIBLE Fundamentals, Collapsing Economy, HEAVIER Corporate and National Debt and way lower corporate revenues and earnings!
    The World Economy is Collapsing, people are starving, but the US Government is too busy in printing money and PUMPING the Stock prices Artificially to make insiders trillionaire without working!
    ENJOY ABSURD COMPANY VALUATIONS, While the Economy is COLLAPSING and Corporate Revenues are TANKING!
    Enjoy Free Capital Gains in the US Stock Market while the Corporate Revenues are tanking and the Economy is Collapsing! US Stock Market is a “GET QUICK RICH” Scheme!
    The World Countries are refusing to accept the US Dollar as international reserve currency due to the HEAVY Dollar PRINTING!
    US Stocks are INSANELY OVERVALUED and OVERBOUGHT! US Stock Market is a MEGA PYRAMID SCHEME right now!!!

    $AMD $NVDA $AMZN $AAPL $SQ $SHOP $SNAP $TWLO $CRM $ROKU $ADBE $DB $BAC $JPM $MS $GS $TWTR $TSLA $IBM $INTC $MSFT $GOOG $LMT $BA $TXN $NXPI $LRCX $NKE $DIS $EBAY $X $MA $V $S $T $F $GM $NFLX $CSCO $CAT $MMM $SBUX $TGT $WMT $ATVI $EA $TTWO $MCD $AVGO $JNJ $BIDU $BZUN $BABA $MU $AMAT $QCOM $WFC $BBBY $PFE $GE $WDC $BLK $KO $UA $ABBV $GILD $BB $ORCL $RH $KEM $IQ $GRPN $PYPL $MA $MOMO $JD $WBA $CVS $FB $W $BBY $SKX $FL $EFX $ETSY $W $UNH $SAP $GPRO $KHC $DPZ $PEP $LYFT $UBER $BYND $ZM $OLED $XOM $CVX $DAL $UAL $AAL $LUV $SAVE $AXP $SPCE $NCLH $CCL $NKLA $NIO $XPEV
    https://www.bbc.com/news/world-europe-59160525
    The WHO warns of 500,000 more deaths in Europe by February as cases soar across the continent.
    The WHO warns of 500,000 more deaths in Europe by February as cases soar across the continent.
    www.bbc.com
    Bearish
  • T
    TinCanSailor22
    Callon Petroleum Company
    Oil $147.27 a barrel in July 2008....not an emergency? Oil spikes in 2011, 2012, 2013 & 2014 to over $100 a barrel under Obama/Biden....not an emergency. Now Oil $80 a barrel in 2021 an emergency??? Laughable & reckless but will make me some serious $$$. They have now shown their hands. I see the panic in their eyes now. I now know 100% I am invested in the right places. $CPE $LPI $FANG $CVX
    Bullish
  • w
    wooglin
    From Bloomberg:
    "Boston Mayor Michelle Wu signed an ordinance Monday (11/22/21) designed to divest the city from fossil fuels. The ordinance will prohibit the use of public funds from being invested in the stocks, securities or other obligations of any company that derives more than 15% of its revenue from fossil fuels.
    The ordinance also extends to companies deriving more than 15% of revenue from tobacco products or private prison industries."

    Stock prices are based on supply and demand. When a stock gets "cheap", buyers typically jump in and erase the discount. Will oil stocks always find a bid? My concern is there will continue to be additional selling pressure of such stocks as other municipalities, colleges etc. liquidate their fossil fuel holdings. To boot, I find it difficult to counter what Cramer has said about younger portfolio managers and how unlike their older peers, they are less likely to embrace holding oil stocks = another hit to the share demand side.

    Yes, I am long both CVX & XOM
  • j
    jim
    Recent $ oil price surge is quite remarkable since the dollar has STRENGTHENED.
  • T
    TinCanSailor22
    Laredo Petroleum, Inc.
    So Covid "Variant" news just happens to hit the wire on a U.S. shorted trade day after a holiday. How convenient. Market manipulation at it's finest. Well at least I know now OPEC+ has a prime excuse on top of the SPR dump to cut back pumping oil. Thanks for the big $$ coming my way soon. No doubt oil goes to $100+ in 2022 now. $LPI $CPE $FANG $CVX
    Bullish
  • T
    TinCanSailor22
    Callon Petroleum Company
    OPEC just outplayed the JB Administration. The JB Administration knows higher oil & gas prices are coming due to their War on Domestic Oil they were banking that OPEC+ would react with cuts & start a price war after they were warned not to dumped the SPR. JB could then blame OPEC+ to the American people for the skyrocketing oil & gas prices coming soon. Instead OPEC+ flipped the script on them. Now when oil & gas head to $100+ (and I guarantee they will in 2022. OPEC+ can say "See we did all we could do even after you dumped the SPR." Now to the American people the blame & political loss will be 100% on the bumbling heads of JB Administration for their ignorant oil/gas policies. Absolutely a genius move by OPEC+. They are playing chess while JB & Co. play a bad game of checkers. $CPE $LPI $FANG $CVX
    Bullish
  • D
    David
    There Is NOTHING Like The Threat-Of-War, (of any war) To Boost Oil Prices.!!!
  • M
    Medusa
    US asking China for Oil ?
    We went from No 1 to last in 11 months as producer and exporter.
  • A
    Alex
    Be prepared guys. If these news come true and there is a temporary drop in oil prices because governments release oil reserves, any stock overreaction would be a massive opportunity to buy low. Because the demand side won't change, will only increase, now with artificially lowered prices it will even accelerate, and once it inevitably gets withdrawn, it will skyrocket like never before with unstoppable momentum. I truly hope this scenario plays out and I am almost begging for a big temporal dip to scare people off.
    Bullish
  • D
    DANIEL
    $CPE conversation
    What is the impact of high inflation and a strong dollar on oil stocks?

    High Inflation: Oil stocks become more desirable to investors as a protection against inflation. "Energy stocks have the best track record during periods of rising consumer prices" (Financial Post, Feb 21, 2021).

    Strong Dollar: This normally means lower commodities prices (including oil). However, two factors will make it different this time (1) the unprecedented underinvestment in oil leading to tight supply while demand continues to be strong, and (2) COVID-driven high inflation is a global phenomenon, not only in the US. When that happens, there is a flight to safety from various currencies to the US dollars, making USD stronger as it is happening now. So, the current strong dollar is extraordinary.

    Feel free to add your thoughts.

    $OXY $RIG $OIH $XOM $CVX $VET $EOG $CNQ $LPI $CLR $CDEV $CPG $KMI $HAL $SLB $PXD $MRO $CEI $DVN $KOS
    Bullish
  • P
    Paula
    #$%$ stock. I should have dumped this at $118 just a few days ago, the day before Thanksgiving. I already locked in the dividend, should have taken the profits. Holding this for a few more days cost me the dividend in the stock price. Makes ZERO sense between Friday and Tuesday CVX drops 4%, makes even less sense I did not SELL.
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