117.98 0.00 (0.00%)
After hours: 4:50PM EDT
|Bid||117.76 x 1300|
|Ask||118.02 x 1300|
|Day's Range||116.78 - 118.02|
|52 Week Range||100.22 - 127.34|
|Beta (3Y Monthly)||0.84|
|PE Ratio (TTM)||15.28|
|Earnings Date||Nov 1, 2019|
|Forward Dividend & Yield||4.76 (4.04%)|
|1y Target Est||137.46|
According to recent reports, Saudi Aramco has delayed its massive IPO until at least December. Aramco had been expected to announce plans next week, in what would have been one of the largest ever IPOS, worth upwards of $20 billion dollars. Yahoo Finance's Dan Roberts, Heidi Chung, Kristin Myers and Scott Gamm discuss on YFi AM.
So far, Chevron (CVX) stock has risen 4.1% in October. The stock might have risen due to higher oil prices and improving equity markets.
What is a dividend and which companies have the best-yielding dividends? Read on for a primer on how best to approach this method of investing.
(Bloomberg) -- Chevron Corp. sees a “boom boom boom kind of economy” in West Texas, shrugging off signs of a Permian Basin slowdown showing up in everything from jobs to hotel rooms.Steve Green, president of Chevron’s North American business, was insistent that the world’s biggest shale patch won’t be susceptible to historic boom-and-bust cycles that have dominated the Texas oil economy for decades. His booming nod to continuing good times came Tuesday during a panel discussion at the Lone Star Energy Forum in Austin.“We see a long, healthy pace of activity in the Permian and Texas for decades to come,” Green said at the forum, sponsored by the Texas Oil & Gas Association.The comments come within days of earnings releases by Schlumberger Ltd. and Halliburton Co., two of the world’s biggest providers of oilfield equipment and services, which detailed an annual drop in North American sales. The companies warned investors that the slowdown could be sharper than an end-of-year slump seen in 2018.Don Templin, chief financial officer at Marathon Petroleum Corp., who was also on the panel, chimed in on the Texas love fest. But he also added an ominous warning.The Findlay, Ohio-based refiner has access to global markets and a “good portion” of the 400,000 barrels a day of refined product that it exports is from the gulf coast. But he said investments in export infrastructure will be important in keeping the shale boom moving forward over the next five years.“Texas plays a really important role,” he said. “But if you don’t have export capabilities, all the product produced in the Permian gets bottlenecked somewhere, and at some point in time, that will dampen the production.”To contact the reporter on this story: David Wethe in Houston at firstname.lastname@example.orgTo contact the editors responsible for this story: Simon Casey at email@example.com, Reg Gale, Joe CarrollFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- The Trump administration extended Chevron Corp.’s waiver to operate in Venezuela, allowing the second-largest U.S. oil explorer to keep its toehold in the crisis-stricken Latin American nation as U.S. sanctions severely restrict crude exports.The 90-day reprieve lets Chevron continue its role as the last major U.S. oil producer in the country until Jan. 22. The Treasury Department on Monday also extended waivers for four U.S. oil services providers: Baker Hughes Co., Halliburton Co., Schlumberger Ltd. and Weatherford International Ltd.The extension was the first granted since Trump fired former National Security Advisor John Bolton, who was seen as a vocal opponent of granting exceptions for U.S. companies doing business in Venezuela. Perhaps tellingly, Monday’s waiver was granted four days ahead of expiration, compared with a gap of just hours last time around.Chevron’s joint ventures in the country are with Petroleos de Venezuela SA, the national oil company and the lifeblood of President Nicolas Maduro’s regime. There’s a desire within parts of the U.S. government to maintain some level of American presence in Venezuela’s oil industry in the event of a political transition. The U.S. and dozens of other countries recognize National Assembly President Juan Guaido as the nation’s rightful leader.“It looks like they’ve convinced the Trump administration that this is something that needs to be done every 90 days,” said Muhammed Ghulam, a Houston-based analyst at Raymond James & Associates. “I don’t see much lobbying now on the other side of the issue.”While Venezuela only accounted for 1% of Chevron’s global crude production last year, it remains strategically important as home to the world’s largest oil reserves. In recent months, Chevron made the case to the Trump administration that if it were to leave, its Venezuelan assets could easily be turned over to another operator with little effect on overall production. That could mean the state, or even Russian or Chinese interests, would benefit.Hardliners, Pragmatists“This seems again like a compromise between hardliners who wanted maximum pressure and pragmatists who believed that not renewing the license would not lead to regime change and just open spaces for the Russians to fill,” said Francisco Monaldi, a lecturer in energy economics at Rice University’s Baker Institute for Public Policy. “It seems pragmatism is prevailing.”Venezuela’s crude exports have been crippled by U.S. sanctions, falling to a 70-year low of 495,000 barrels a day in September, according to ship-tracking data compiled by Bloomberg. The policy’s apparent success is another reason why removing Chevron wouldn’t have much effect on the Maduro regime, according to Monaldi.“Sanctions have been so effective in reducing sales that producing more is not necessarily going to help” Maduro, he said.Chevron’s near-century of operations in Venezuela included the crucial discovery of the Boscan field in the 1940s. The California-based driller has outlasted many other oil companies, including Exxon Mobil Corp., which left after a series of industry nationalizations during Hugo Chavez’s time as president.Keeping a ToeholdAs it stands now, the U.S. oil service companies have no desire to broaden beyond the tiny presence they’re maintaining in Venezuela, J. David Anderson, an analyst at Barclays, wrote in an email. But the extension of the U.S. waiver allowing them to remain is ultimately helpful.“It’s important to keep a toehold in the country in the event of a change of government down the road,” Anderson wrote. “If the government does change, it will be a massive opportunity for major oil companies and they will need all the help they can get” for service providers.Venezuela’s oil output has fallen from a high of 3.7 million barrels a day in 1970 to less than 700,000 today, according to data compiled by Bloomberg.To contact the reporters on this story: Kevin Crowley in Houston at firstname.lastname@example.org;David Wethe in Houston at email@example.comTo contact the editors responsible for this story: Simon Casey at firstname.lastname@example.org, Joe Carroll, Mike JeffersFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
U.S. stock futures are flat though talk from officials in both Washington and Beijing is optimistic on the status of their ongoing trade negotiations; McDonald's, Procter & Gamble and UPS report earnings Tuesday; Chevron receives a renewal of its license to continue drilling in Venezuela for another three months.
The former chief of Chevron Corp's Latin American operations is moving to raise $500 million from big financial firms to invest in Venezuela once U.S. sanctions are eventually lifted, confident that political change will come and that foreign investment will be needed to boost sagging oil output. Amos Global Energy LLC, an oil and gas firm started by former Chevron executive Ali Moshiri, begins a road show to raise funding next month, seeking five big investors to put in $100 million each. Amos Global, which includes Moshiri and two co-founders, also is researching Venezuela public debt holders for another fund that would be even larger.
The U.S. Treasury Department on Monday renewed a license allowing Chevron, the last U.S. operating energy company in Venezuela, to continue drilling in the country for another three months through Jan. 22. Some Trump administration officials opposed a renewal of the license, believing oil production helps keep socialist President Nicolas Maduro in power by allowing him to pay down debts. Chevron has been in Venezuela for nearly 100 years and has about 8,000 employees, contractors and direct suppliers involved in its ventures there.
Chevron Corporation (CVX) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front.
The US government has given Chevron and four oil service providers permission to keep working in Venezuela for another three months, extending their exemption from oil sanctions that have hit the rest of the industry in the South American country to a full year. The Treasury said on Monday that Chevron — along with Halliburton, Schlumberger, Baker Hughes and Weatherford International — could continue to work in Venezuela until January 22, although they are banned from exporting diluents to Venezuela that the country needs to process its heavy crude.
The company's remarks follow an earlier report by Bloomberg that said the United States is considering extending Chevron's waiver to operate in Venezuela with more limitations by granting the company a 90-day sanctions reprieve. "We are a positive presence in Venezuela, and we are hopeful that General License 8C is renewed so that we can continue operations in the country for the long-term," Ray Fohr, a Chevron spokesman, told Reuters in an emailed statement.
(Bloomberg) -- The Trump administration is considering an extension of Chevron Corp.’s waiver to operate in Venezuela, albeit with even greater limitations, according to people familiar with the matter.The 90-day sanctions reprieve would allow Chevron to continue its role as the last major U.S. oil producer in the nation beyond the Oct. 25 expiration date. Still, the Treasury Department wants to advance its “maximum pressure strategy” to further limit Venezuela’s crude production, the people said.One of the people, all of whom were granted anonymity to discuss the deliberations, said on Friday evening that the decision making process was in its final stages. Another person said that no final decision has been made and it was unclear whether other companies might receive a similar break.The concern is that Chevron’s joint-venture projects in Venezuela are providing financing to help Nicolas Maduro’s regime pay back its debt to Russia’s state oil giant Rosneft PJSC, which could encourage more loans in the future. Still, there’s also a desire to maintain some American presence in the nation’s oil industry in the event of a political transition. The U.S. and nearly 60 countries recognize National Assembly President Juan Guaido as Venezuela’s rightful leader.“We are a positive presence in Venezuela, and we are hopeful that General License 8C is renewed so that we can continue operations in the country for the long-term,” Ray Fohr, a Chevron spokesman, said Friday night in a statement. “We have dedicated investments and a large work force who are dependent on our presence.”The Treasury Department did not respond to a request for comment.Chevron has operated in the South American nation for almost a century, since the discovery of the Boscan field in the 1920s. It has outlasted many other oil companies, including Exxon Mobil Corp., which left after a series of industry nationalizations during Hugo Chavez’s time as president.Venezuela’s oil output has fallen from a high of 3.7 million barrels a day in 1970 to less than 700,000 today, according to data compiled by Bloomberg.\--With assistance from Nick Wadhams and David Wethe.To contact the reporters on this story: Ben Bartenstein in Washington at email@example.com;Saleha Mohsin in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Carolina Wilson at email@example.com, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The exploration and production company’s shares look cheap. That should change as investors discern its good prospects and shareholder-friendly blueprint for the future.
LA CAÑADA DE URDANETA, Venezuela (Reuters) - With the $2 he earns in wages each week working as a cargo driver for Venezuelan state oil company PDVSA, 56-year-old Freddy Brito cannot even afford to buy one kilogram (2.2 lb) of cheese. To feed himself and his wife as the once-prosperous OPEC nation suffers a hyperinflationary economic collapse, Brito depends on a monthly basket of rice, canned tuna, beans and other products valued at $200 given to him by California-based Chevron Corp , PDVSA's minority partner at the Petroboscan field in western Zulia state where he works.
The developer of Bishop Ranch aims to transform the massive business park into a vibrant community where thousands of people will want to live.
The federal government's EIA report revealed that crude inventories rose by 9.3 million barrels, compared to the 4 million barrels increase that energy analysts had expected.
Here's how Chevron Phillips Chemical Co. LLC wins friends and closes multibillion-dollar international business deals.
and government net zero targets are all piling pressure on Big Oil to reduce carbon dioxide emissions by shifting towards renewable energy. Critics have condemned the industry's response as insufficient, with even the most progressive oil majors devoting only a fraction of their research and development expenditure to low carbon tech.