|Bid||0.00 x 1800|
|Ask||122.29 x 1200|
|Day's Range||121.22 - 124.76|
|52 Week Range||102.55 - 133.88|
|PE Ratio (TTM)||25.19|
|Earnings Date||Jul 26, 2018 - Jul 30, 2018|
|Forward Dividend & Yield||4.48 (3.58%)|
|1y Target Est||144.89|
Thousands of Florida residents evacuated their homes on Sunday as Subtropical Storm Alberto drove north through the Gulf of Mexico with forecasters saying it could bring "life-threatening inundation" to southern coastal states. The storm was about 120 miles (190 kms) south of Apalachicola, Florida, on the Gulf of Mexico coast as of 4 p.m. EDT (2000 GMT) and was expected to make landfall along the Florida Panhandle on Monday, the U.S. National Hurricane Center said.
Exxon Mobil Corp (XOM.N) evacuated non-essential workers from the Lena production platform in the Gulf of Mexico ahead of Subtropical Storm Alberto, the company said on Sunday. Royal Dutch Shell Plc (RDSa.L) and Chevron Corp (CVX.N) shut production on platforms in the eastern Gulf of Mexico due to Alberto and evacuated workers from those sites, the companies said. The U.S. National Hurricane Center said Alberto was transitioning to a tropical cyclone as its circulation became more focussed around a central core located 135 miles (220 km) west of Tampa, Florida, with 50 mile per hour winds (85 kph).
Exxon Mobil Corp evacuated non-essential workers from the Lena production platform in the Gulf of Mexico ahead of Subtropical Storm Alberto, the company said on Sunday. Royal Dutch Shell Plc and Chevron Corp shut production on platforms in the eastern Gulf of Mexico due to Alberto and evacuated workers from those sites, the companies said. The U.S. National Hurricane Center said Alberto was transitioning to a tropical cyclone as its circulation became more focused around a central core located 135 miles (220 km) west of Tampa, Florida, with 50 mile per hour winds (85 kph).
News about the lawfare campaign waged against Chevron Corp. is coming in regularly, and this news is good for those who believe in the Rule of Law. Following on the heels of this week's Ontario high court decision, the Supreme Court of Gibraltar issued a default judgment against Messrs. Pablo Fajardo, Luis Yanza, and Ermel Chavez, and against two organizations, Frente de Defensa de la Amazonia (the “Front”) and Servicios Fromboliere, for their role in a conspiracy to procure and attempt to enforce the fraudulent Ecuadorian judgment against Chevron Corp. The Gibraltar court awarded Chevron $38 million in damages and issued a permanent injunction preventing defendants from assisting the case against Chevron in any way. Commercial and residential buildings stand along the waterline at the base of the rock of Gibraltar in Gibraltar, U.K., on Sunday, March 6, 2016.
When Texaco Inc. reported that its first-quarter profit in 1979 was up 81% from a year earlier, the oil company’s chief executive, Maurice F. “Butch” Granville, was almost apologetic. Running a big U.S. oil company in the 1970s wasn’t much fun. Foreign governments were nationalizing oil fields formerly controlled by the international oil giants. Critics accused the oil companies of profiting on the public’s misery.
The Supreme Court of Gibraltar has issued a judgment against Pablo Fajardo, Luis Yanza, Ermel Chavez, Frente de Defensa de la Amazonia (the “Front”) and Servicios Fromboliere for their role in a conspiracy to procure and attempt to enforce a fraudulent Ecuadorian judgment against Chevron. The court awarded Chevron Corporation $38 million in damages and interest and issued a permanent injunction against the defendants, preventing them from assisting or supporting the case against Chevron in any way.
BOGOTA, Colombia (AP) — Venezuela's former oil czar said crude production in the OPEC nation will continue to plummet in the aftermath of President Nicolas Maduro's re-election, as the embattled socialist leader takes the country down an increasingly authoritarian path that scares off private investment and leads to more international sanctions against his government.
U.S. Gulf of Mexico producers and refiners are monitoring subtropical storm Alberto, which is expected to make landfall between east Louisiana and the Florida panhandle early next week, the companies said on Friday. The National Weather Service on Friday predicted the storm would bring heavy rain to the central Gulf Coast region and the southeastern United States later this weekend and continue into early next week. The Louisiana Offshore Oil Port (LOOP), located about 20 miles south of the Louisiana coast in the Gulf, was operating normally, according to the company's website.
Investors, hit with another wave of uncertainty on Thursday following President Donald Trump's announcement to call off a summit with North Korea, sold off U.S. equities as expectations for a market turnaround declined going into the holiday weekend. On Thursday, the Dow Jones Industrial Average (DJIA) Index was hard hit on the news, which broke just 30 minutes before the market open, driving the blue-chip index down nearly 300 points before recouping some of its losses later in the afternoon. The Dow closes down 0.3% on Thursday, while the S&P 500 fell about 0.2% and the Nasdaq declined less than 0.1%.
Investors can blame the Dow Jones Industrial Average's decline Friday on two stocks, those of Chevron Corp. and Exxon Mobil Corp. , which are shaving a combined 36 points off the Dow as oil prices sink. Chevron shares were the Dow's biggest losers, as they shed 3.0%, with the price decline of $3.84 taking about 26 points off the Dow. Exxon's stock slumped $1.45, or 1.8%, to reduce the Dow's price by about 10 points.
U.S. equities were rolling over on Thursday as hopes for a quick resolution to U.S. trade discussions with China and its NATFA partners have faded amid fresh Twitter tirades from President Donald Trump that negotiations weren’t going the way he wants. Here are seven Dow Jones Industrial Average components under pressure. The company will next report results on July 27 before the bell.
Previously, we reviewed BP’s (BP) dividend yield, which has fallen to 5.1%. In this part, we’ll look at which institutions bought or sold BP in the first quarter based on the latest 13-F filings.
Check the Stock Market Today column to spot changes in market trend and track the best stocks to buy and watch.
Previously in this series, we’ve examined BP’s (BP) stock price, moving average trends, and implied volatility. In this part, we’ll look at BP’s dividend trends.
Attorneys for the cities of Oakland and San Francisco and Chevron Corp. have homework from Judge William Alsup: prepare 10-page legal analyses on whether a century of American dependence on fossil fuels was worth the global warming it caused. The filings will follow almost three-hours of proceedings on Thursday in a San Francisco federal court, where the cities and the world’s biggest oil companies sparred over lawsuits seeking payment for infrastructure to protect against rising sea levels. Alsup, who’s weighing a dismissal bid by defendants including Chevron and four other companies, focused many of his questions on the “broader sweep of history,” and the crucial role oil played in America’s successes in both world wars and its subsequent economic boom.
Despite their enticing nature, oil stocks are always tricky. Subject to multiple factors, particularly geopolitical pressures, the energy sector is often a hit-or-miss affair. Additionally, with the current Trump administration at the helm over unprecedented issues, this year should be especially unpredictable.
Zacks Market Edge Highlights: Anadarko, WildHorse Resource, Lonestar, Pioneer Natural and Chevron
Could Chevron Be Positioned for Growth? In this series, we’ve looked at analyst ratings and target prices for Chevron (CVX) and analyzed the company’s debt and cash flow position to determine its future outlook. In Q1 2018, Chevron’s downstream earnings fell, contributing less to its total earnings due to narrower margins and lower throughputs.
The Ontario Court of Appeal has upheld a lower Canadian court’s determination that an Ecuadorian judgment against Chevron Corporation, already found by U.S. courts to have been obtained through fraud and corruption, cannot be enforced against Chevron Canada Limited, an indirect subsidiary. The Court of Appeal affirmed the judgment dismissing all claims against Chevron Canada Limited holding that it is a separate entity from Chevron Corporation and its assets are protected from seizure by those seeking to enforce the corrupt Ecuadorian judgment. The court rejected the Ecuadorian plaintiffs’ arguments as contrary to fundamental principles of Canadian corporate law.
Chevron (CVX) has upstream assets around the globe. CVX expects its production volumes to grow 4%–7% YoY (year-over-year) this year. In the first quarter, Chevron’s worldwide production rose 6.6% to 2.9 MMboepd (million barrel of oil equivalent per day). In comparison, in the first quarter, ExxonMobil (XOM) produced 3.9 MMboepd, and Royal Dutch Shell (RDS.A) and BP (BP) produced 3.8 MMboepd and 2.6 MMboepd, respectively.
Chevron’s (CVX) earnings improved YoY (year-over-year) in the first quarter. Its overall adjusted earnings rose YoY from $2.3 billion to $3.6 billion, and upstream’s contribution rose from 51% to 92%. Contrarily, downstream’s contribution fell from 42% to 20%, and other activities dented earnings by 12%. Higher oil prices changed the company’s earnings mix. In this part, we’ll look at CVX’s upstream and downstream performance in the first quarter.
Could Chevron Be Positioned for Growth? Chevron’s (CVX) capex is primarily focused on the upstream segment. In the first quarter, 88% of Chevron’s capex was in the upstream segment, 11% was in the downstream segment, and 1% in other activities.
Chevron’s (CVX) net debt-to-adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) ratio was 1.3x in the first quarter, below the average industry ratio of 1.6x. The industry average takes into account 13 integrated energy companies worldwide.