AllAnalyst Report
logoMorningstarFebruary 22, 2021

Chevron Corporation: Chevron's Earnings Deteriorate in Q4, but Outlook Improved as Dividend Safe; Shares Undervalued

Symbols
CVX
Sector(s)
Energy
Rating
Current Price
$101.78
Fair Value
Economic Moat
Stewardship
Summary

Chevron is an integrated energy company with exploration, production, and refining operations worldwide. Chevron is the second-largest oil company in the U.S. with production of 2.8 million of barrels of oil equivalent a day, including 6.8 million cubic feet a day of natural gas and 1.7 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries in the U.S. and Asia have a total refining capacity of 1.7 million barrels of oil a day. Proven reserves at year-end 2019 stood at 11.4 billion barrels of oil equivalent, including 6.5 billion barrels of liquids and 29.5 trillion cubic feet of natural gas.

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Analyst Profile

Allen Good

Sector Strategist
Allen Good, CFA, is an energy strategist for Morningstar Holland BV, a wholly owned subsidiary of Morningstar, Inc. Based in Amsterdam, he covers the oil and gas industries. He is also a member of the Morningstar Research Services Economic Moat Committee, a group of senior members of the equity research team responsible for reviewing all Economic Moat and Moat Trend ratings issued by Morningstar.Before joining Morningstar in 2008, he performed merger and acquisition advisory work for a middle-market investment bank. Before that, he spent several years at Black & Decker in various operational roles.Good holds a bachelor’s degree in business from the University of Tennessee and a master’s degree in business administration from Kenan-Flagler Business School at the University of North Carolina. He also holds the Chartered Financial Analyst® designation.