CVX - Chevron Corporation
| Previous Close | 115.76 |
| Open | 116.40 |
| Bid | 115.62 x 800 |
| Ask | 115.89 x 2200 |
| Day's Range | 115.36 - 116.65 |
| 52 Week Range | 100.22 - 127.60 |
| Volume | 6,238,006 |
| Avg. Volume | 5,631,285 |
| Market Cap | 219.856B |
| Beta (3Y Monthly) | 0.82 |
| PE Ratio (TTM) | 15.00 |
| EPS (TTM) | N/A |
| Earnings Date | N/A |
| Forward Dividend & Yield | 4.76 (4.07%) |
| Ex-Dividend Date | 2019-08-16 |
| 1y Target Est | N/A |
- Benzinga
Barron's Picks And Pans: American Eagle Outfitters, Chevron, Grocery Outlet And More
The cover story in this weekend's Barron's offers stock picks for an energy sector rebound. Other featured articles discuss how the trade war is hitting tech's bottom line and why banks are not an alternative ...
- Barrons.com
Wall Street Has Abandoned Oil and Gas Stocks. You Shouldn’t.
The beaten-down energy sector is starting to look oversold. That’s misguided. Here are some picks to play a rebound.
- 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.
- 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).
- Investopedia
Inverse Energy ETFs Soar Amid Global Slowdown Fears
Oil prices skidded Wednesday after weak economic data and a surprise build in inventories rattled energy markets.
- Zacks
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron and Royal Dutch Shell
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron and Royal Dutch Shell
- GuruFocus.com
Jim Simons Exits UnitedHealth, Costco
Guru's largest sales of 2nd quarter Continue reading...
- 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.
- MarketWatch
Occidental Petroleum’s stock 10-year low, with ‘no easy way out’ of financial predicament
Shares of Occidental Petroleum Corp. fell Tuesday, to miss out on the rally in the energy sector and the broader stock market, after J.P. Morgan turned bearish on the oil and gas production company, as it had “no easy way out” of the risk it took on to buy Anadarko.
- 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.
- American City Business Journals
Metro Air Park interchange underway, with more development on deck
Elected officials, land owners and others hailed a milestone for the long-awaited Metro Air Park development Tuesday, with a groundbreaking ceremony for a freeway interchange to the project site.
- American City Business Journals
Office building on former Chevron campus in Bellaire lands anchor tenant
A Houston-based developer is still waiting for final approval on plans to redevelop the former Chevron Corp. campus in Bellaire. But in the meantime, the company has scored a leasing win for one of the existing office buildings on the property.
- 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.
- 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
- GuruFocus.com
Weekly Top Insider Buys Highlight for the Week of Aug. 9
The largest Insider Buys this week were for JPMorgan Chase & Co. (JPM), Chevron Corp. (CVX), Netflix Inc. (NFLX) and Enterprise Products Partners LP (EPD) Continue reading...
- 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...
- Quartz
Chevron starts its unique project that buries carbon dioxide underground
The technology at the heart of the project, called carbon capture and storage, is vital in the global fight against climate change.
- 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.
- Investor's Business Daily
The Biggest IPO Of All Time May Be Back On, Possibly Next Year
Saudi Aramco will reportedly hold an investors call Monday, signaling that an IPO for part of the crown jewel of Saudi Arabia's oil industry is back on.
- ETF Trends
Explaining Why It’s So Troublingly Slick In The Oil Sector
Brian Sullivan goes over why it’s been a rough year for the oil market. As Sullivan explains, it’s been a brutal period for the sector, with oil stocks falling more than the price of oil. It’s been strange as well, given the price of crude oil has held up this year, given the slowing of global demand, combined with OPEC cutting output.
- GuruFocus.com
US Indexes Continue Gains, Closing Higher Thursday
S&P; 500 up 1.88% Continue reading...
- GuruFocus.com
Diamond Hill Capital's Top 4 Buys in 2nd Quarter
Fund’s top buy is in travel reservation giant Booking Holdings, fund also exits Buffett’s Apple Continue reading...
- Investing.com
Stocks - Markets Rally to Claw Back Early-Week Losses
Investing.com – Stocks shot higher Thursday as China stabilized the value of the yuan and higher oil prices boosted energy stocks.
- Investing.com
Chevron Rises 3%
Investing.com - Chevron (NYSE:CVX) rose by 3.04% to trade at $122.73 by 15:43 (19:43 GMT) on Thursday on the NYSE exchange.
