CVX - Chevron Corporation

NYSE - NYSE Delayed Price. Currency in USD
93.90
+0.60 (+0.64%)
At close: 4:00PM EDT

93.55 -0.35 (-0.37%)
After hours: 7:51PM EDT

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Previous Close93.30
Open94.68
Bid93.55 x 800
Ask93.55 x 800
Day's Range92.11 - 94.69
52 Week Range51.60 - 127.00
Volume7,735,944
Avg. Volume15,935,450
Market Cap175.309B
Beta (5Y Monthly)1.33
PE Ratio (TTM)45.69
EPS (TTM)2.06
Earnings DateJul. 31, 2020 - Aug. 04, 2020
Forward Dividend & Yield5.16 (5.53%)
Ex-Dividend DateMay 18, 2020
1y Target Est90.71
  • We could still see a V-Shaped recovery: Expert
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  • Bloomberg

    Chevron’s Investors Defy Board in Demanding Climate Disclosures

    (Bloomberg) -- In a rare move against Chevron Corp.’s board, shareholders of the U.S. oil giant are calling on the company to disclose lobbying efforts and ensure that they support international goals to combat global warming.The proposal was the only one where a majority of Chevron’s investors diverged from the board’s recommendations in an annual meeting held virtually Wednesday. The matter was brought by BNP Paribas Asset Management, which has stepped up efforts in recent years to help further the international Paris Agreement on climate change. BlackRock Inc., Chevron’s second-biggest shareholder, also backed the measure.The vote comes as the world’s oil giants are already reeling over a pandemic-fueled market rout, while also facing increasing pressure to curb greenhouse-gas emissions and contribute more to the fight against climate change.U.S. oil majors Chevron and Exxon Mobil Corp. have noticeably lagged behind their European counterparts in making carbon-cutting pledges. BP Plc and Royal Dutch Shell Plc have both committed to becoming carbon neutral by 2050 -- a move that Chevron’s chief recently called “aspirational” and Exxon’s described as nothing more than a “beauty competition.”Though America’s two biggest oil companies say they support the goals of the Paris accord, some investors want reassurance that they’re not funding trade organizations that promote policies to the contrary.“Climate issues are so central to the work of these organizations that it’s hard not to be concerned that there’s the potential for misalignment,” said Jonathan Bailey, head of ESG investing at Neuberger Berman, which voted for the proposal. “This will also help accelerate clearer activities from the organizations they support.”Chevron’s board had recommended investors vote against the proposal, saying that it already made transparent disclosures of its lobbying activities. The defeat -- with a preliminary count showing 53% of investors voting in favor of the proposal -- means Chevron will be required for the first time to issue a report detailing how those activities align or not with climate goals.The result “is a real rebuke to Chevron and a wake-up call to the board,” said Kathy Mulvey, a campaign director at the Union of Concerned Scientists. “Companies must back up their statements with consistent action.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Exclusive: Chevron to cut up to 15% of staff amid restructuring
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    The oil producer previously disclosed a 30% reduction in its 2020 spending and some voluntary job cuts amid this year's sharp drop in oil prices and lower demand for oil and gas due to the COVID-19 pandemic. Chevron has been widely seen as the standard bearer of financial discipline in the oil industry and was among the first to make significant budget cuts as oil demand plummeted. Last year, it abandoned a takeover bid for Anadarko Petroleum Corp rather than get into a bidding war with Occidental Petroleum Corp .

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    It also sounds like integrated oil major Chevron (NYSE: CVX). Chevron is the second-largest energy company in the world by market cap, surpassed only by its fellow U.S. oil juggernaut ExxonMobil (NYSE: XOM). Let's take a closer look at Chevron to see whether it's a buy.

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  • Australia Looks to Big Oil in Latest Plan to Curb Emissions
    Bloomberg

    Australia Looks to Big Oil in Latest Plan to Curb Emissions

    (Bloomberg) -- Australia is seeking to cut emissions in one of the world’s biggest per-capita polluters by encouraging oil firms including Chevron Corp. and Woodside Petroleum Ltd. to invest in carbon-reduction projects.The nation on Tuesday said it would revamp a multibillion-dollar climate fund to support the development of technologies such as carbon capture and storage to improve efficiency and reduce greenhouse gases. The move was welcomed by the oil and gas industry and blasted by climate groups, which said it undermines renewable energy projects.Calls for Prime Minister Scott Morrison to do more to combat climate change got louder after devastating bushfires destroyed thousands of homes this past summer. Morrison has said the country will comfortably meet its international commitments, but progress on emissions reduction has stalled in recent years as a number of heavy-polluting gas export facilities started operations.The government plans to revamp the A$2 billion ($1.3 billion) Climate Solutions Fund, after an independent report published Tuesday found that stronger action was needed for the country to meet its climate commitments under the Paris Agreement. The fund is part of a A$3.5 billion package to help Australia meet the 2030 goal.“Key sectors are not projected to have begun significantly reducing emissions by 2030 and concerted effort is needed to unlock the critical, transformative technologies these sectors need,” according to the report, headed by former Origin Energy Ltd. Managing Director Grant King.The King report’s recommendations “align with the government’s technology-based approach to reducing emissions,” Energy Minister Angus Taylor said in a statement. He will support a proposal to award credits to big facilities for adopting low-emissions technology, which could then be used to meet their climate obligations under the government’s so-called “safeguard mechanism.” That system sets a target limit for a facility’s emissions, above which it must purchase abatement.Under Taylor’s proposal, carbon capture and storage projects would be eligible for carbon credits, in a move welcomed by the Australian Petroleum Production & Exploration Association, an industry lobby group. It was also hailed by Santos Ltd., which is developing a CCS program in South Australia backed by Occidental Petroleum Corp. and BP Plc. Meanwhile, Chevron has ploughed billions of dollars into a carbon sequestration project at its Gorgon LNG plant, which started operation in August after several years of delay.“Australia needs low-cost, large-scale abatement to maintain our position as a leading energy exporter and manufacturer of energy-intensive materials such as steel and cement, as well as to enable new industries such as hydrogen,” Santos Chief Executive Officer Kevin Gallagher said in a statement. “CCS can facilitate the fastest route to a hydrogen fueled economy.”Climate groups said the proposal was too soft on big emitters such as Chevron and Woodside, whose giant liquefied natural gas facilities in Western Australia put them both in the country’s top 10 polluters. The government was wasting taxpayer money on unproven CCS technology, said Richie Merzian, climate & energy director at the Australia Institute think tank.“Many other industrialized countries are using stimulus programs for the dual benefit of climate action, while Australia is still missing even the most basic climate and energy policy,” he said. “This review is just tinkering on the margins of addressing Australia’s deep and dangerous fossil fuel reliance.”Read: The $30 Billion Fight to Fuel Australia’s Post-Covid EconomyThe report’s proposal for the government to give carbon credits to Australia’s biggest polluters to stay below legally required pollution limits is like paying drivers to stay under the speed limit, the Australian Conservation Foundation said in a statement.“Asking a former oil industry executive to review the national climate policy is like asking a fox to review the design of the chook house,” ACF climate campaigner Suzanne Harter said. “Australia has virtually no effective climate policy and no pathway to achieve net zero by 2050, which is required if we want to keep this a liveable continent for coming generations.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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    U.S. stock index futures surged on Monday with gains spread across stocks ranging from autos to oil as many of the hard-hit countries eased restrictions on business and social activities, boosting hopes of a global economic recovery. Oil and gas heavyweights Exxon Mobil Corp, Chevron Corp and Occidental Petroleum Corp rose between 2.5% and 5% after oil prices surged on the prospect of higher demand. Investors were also encouraged by Federal Reserve Chairman Jerome Powell's views on a recovery and hints on more monetary stimulus if required.

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    A slump in energy prices that has led to the deferral of liquefied natural gas (LNG) projects around the world is set to be an unexpected boon for some producers trying to kickstart new ventures in gas-rich western Australia. Offshore and onshore projects led by Woodside Petroleum , Chevron Corp and Japan's Mitsui are in the mix to plug a looming supply gap at North West Shelf, Australia's oldest and biggest gas export plant. The shortfall follows a decision in March to put the giant offshore Browse gas project on ice after its owners, led by Woodside, balked at the $20 billion price tag to develop the field amid a slump in LNG prices to record lows.

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  • Thomson Reuters StreetEvents

    Edited Transcript of CVX earnings conference call or presentation 1-May-20 3:00pm GMT

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