Chevron Corporation (CVX) Options

CVX, 10Q due 5/2

Barron’s likes CVX on valuation:

https://www.barrons.com/articles/buy-chevron-stock-price-pick-1d3bbf11

The current valuation has a pretty bad recession priced in.

CVX, new 52 week low

CVX reorganizes senior mgmt—market yawns:

https://finance.yahoo.com/news/chevron-announces-senior-leadership-changes-140000329.html

Although not stated in the above PR, CVX plans to reduce headcount by 20% between now and the end of 2026.

CVX 4Q24 CC transcript:

https://finance.yahoo.com/news/q4-2024-chevron-corp-earnings-093038686.html

CVX reports (soft) 4Q24 results—raises dividend for 37th consecutive_year:

https://finance.yahoo.com/news/chevron-reports-fourth-quarter-2024-111500056.html

The new annualized dividend is $6.84 (up from $6.52). At the current share price (~$150), the new payout represents a yield of 4.6%.

CVX, GEV ink collaboration_for gigawatt-scale co-located data centers:

https://finance.yahoo.com/news/engine-no-1-chevron-ge-130000197.html

CVX have any facilities in New York State : New York to fine fossil fuel companies $75 billion under new climate law

https://www.reuters.com/sustainability/new-york-fine-fossil-fuel-companies-75-billion-under-new-climate-law-2024-12-26/

January 21, " Drill baby drill !" Go CVX.

Received the dividend, thank you kindly CVX.

From same PR—CVX’s 2025 cap-ex budget (including its equity share of cap-ex by unconsolidated affiliates) is approximately $17B, down from $19B in 2024.

CVX will take a $1.1-1.5B writedown in 4Q24, of which $0.7-0.9B will be cash items (mostly severance pay) included in non-GAAP EPS and $0.4-0.6B will be non-cash asset impairments excluded from non-GAAP EPS:

https://finance.yahoo.com/news/chevron-announces-2025-capex-budget-211500549.html

Goldman sachs raised their target price today. 👍

Take a look at Barron's Outlook for CVX, very accurate coverage .

CVX has ample funds to purchase it's shares & pay dividends. Are you aware its divesting up to $15 billion in assets in the next 3 years. Listen to their earnings calls & read annual/quarterly reports. Your DD is broad and too generalized, faulty at best. May all your trades be profitable.

Exxon Mobil, Chevron, Shell, Total Energies, and BP will earn a combined $24.4 billion in Q3, which leaves all companies except Shell unable to cover their dividends and share buybacks with free cash flow. Not a good way to support stock price in my opinion.

Nice article on The Motley Fool on Chevron today.

CVX 3Q24 results:

https://finance.yahoo.com/news/chevron-reports-third-quarter-2024-101500365.html

Bank of America target on CVX is now $168 in the next 12 months. I can live with that 🙂.

Chart might go vertical in the coming days

I bought on 9/12. Going to add more with upcoming monthly pension check from the University.

Took my principal & profit from recent NVDA trade and put it in CVX this morning. Dividend of 4 1/2+ percent, p/e 14, long term earnings outlook is good. A no brainer to add to my long term portfolio. Have a great day. 🍷

Bought the dip. Going to collect coin on this conservative oiler. Let’s rock and roll chevron

CVX 2Q24 CC transcript:

https://finance.yahoo.com/news/chevron-cvx-q2-2024-earnings-173014803.html

CVX 2Q24 results…

The 2Q24 financials were overshadowed by yesterday’s Guyana news (#msg-174845901, #msg-174849730) and today’s relocation news (#msg-174857172).

PR:
https://www.chevron.com/newsroom/2024/q3/chevron-reports-q2-2024-results

CC slides:
https://chevroncorp.gcs-web.com/static-files/0713a291-b3d1-4337-b649-1f164aa3038a

CC slides with interspersed prepared remarks:
https://chevroncorp.gcs-web.com/static-files/a8fb1b28-c24d-46c9-a918-be8efab41bac

HES shareholders approve CVX merger:

https://www.wsj.com/business/energy-oil/hess-shareholders-greenlight-53-billion-merger-with-chevron-e82fd222

A yes vote by a majority of all shares outstanding (including abstained and non-voted shares) was required for approval.

Great Long

CVC 1Q24 CC transcript:

https://finance.yahoo.com/news/q1-2024-chevron-corp-earnings-052034830.html

Re: HES acquisition

The “body language” on CVX’s 1Q24 CC today seemed somewhat less sanguine about closing the HES deal than CVX’s and HES’ prior comments. I could be wrong about this, but CVX seems to be preparing for investors for some kind of settlement of the dispute with XOM.

CVX 1Q24 results…

PR:
https://chevroncorp.gcs-web.com/static-files/d6e0b7a2-bc43-42cf-aa0b-56ee0eedb3b0

CC slides with interspersed prepared remarks:
https://chevroncorp.gcs-web.com/static-files/993b5a93-e862-4b50-bef7-e7451d69f059

XOM seeks arbitration wrt HES Guyana stake:

https://finance.yahoo.com/news/1-exxon-signals-potential-counter-180644595.html

CVX-HES merger has a possible glitch:

https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0000093410/000119312524046223/d576159ds4.htm (p.80) Hess Guyana Exploration Limited (HGEL), a wholly owned subsidiary of Hess, is party to an operating agreement (the Stabroek JOA) with affiliates of Exxon Mobil Corporation (Exxon) and China National Offshore Oil Corporation (CNOOC), which governs the rights and obligations of such parties (the Stabroek Parties) with respect to the exploration and development of their respective interests in the Stabroek Block offshore Guyana (the Stabroek Block).

The Stabroek JOA contains a right of first refusal (the Stabroek ROFR) provision that, if applicable to a change of control transaction and properly exercised, provides the Stabroek Parties with a right to acquire the participating interest in the Stabroek Block held by the Stabroek Party subject to such transaction (at a value that is based on the portion of the value of the change of control transaction that reasonably should be allocated to such participating interest and is increased to reflect a tax gross-up) only after, and conditioned on, the closing of such transaction.

Chevron and Hess believe that the Stabroek ROFR does not apply to the merger due to the structure of the merger and the language of the Stabroek ROFR provisions. Following the announcement of the merger, Exxon and CNOOC informed Hess and Chevron that they disagree with this view and believe the Stabroek ROFR applies to the merger.

Hess, Chevron, Exxon and CNOOC have been engaged in constructive discussions regarding the Stabroek ROFR, and Chevron and Hess believe these discussions will result in an outcome that will not delay, impede or prevent the consummation of the merger. In the event such discussions do not result in an acceptable resolution, either Hess or Chevron could elect for HGEL to pursue arbitration to resolve the matter.

If the discussions with Exxon and CNOOC do not result in an acceptable resolution and arbitration (if pursued) does not result in a confirmation that the Stabroek ROFR is inapplicable to the merger, then there would be a failure of a closing condition under the Merger Agreement, in which case the merger would not close and, pursuant to the terms of the Stabroek JOA, Exxon and CNOOC would cease to have rights under the Stabroek ROFR with respect to the merger. In that event, Hess would remain an independent public company and would continue to own its participating interest in the Stabroek Block.

Based on their discussions with Exxon and CNOOC and the terms of the Stabroek JOA, Chevron and Hess do not believe there is any material likelihood that the circumstances described in this paragraph will occur. Really? I find it hard to accept this (bottommost) assertion at face value.

HES is -4% in AH trading.

CVX 4Q23 results:

https://finance.yahoo.com/news/chevron-reports-fourth-quarter-2023-111500530.html

The 8% increase in the dividend to an annualized $6.52, which is now taking effect, was pre-announced in Oct 2023 (#msg-173075913).

Moving alone nicely

Great adds

CVX issues_2024 cap-ex guidance—2/3_of upstream in US:

https://finance.yahoo.com/news/chevron-announces-16-billion-2024-221500571.html Upstream spending in 2024 is expected to be about $14 billion. Of this planned expenditure, two-thirds is allocated to the United States, including approximately $6.5 billion to develop Chevron’s U.S. shale and tight portfolio, of which around $5 billion is planned for Permian Basin development. About 25 percent of U.S. upstream capex is planned for projects in the Gulf of Mexico, including the Anchor project, which is expected to achieve first oil in 2024.Plainly, CVX is avoiding undue geopolitical risk. CVX’s Tengiz production in Kazakhstan and its newfound interest in Guyana (via the Hess acquisition) incur ample risk already.

pack - It has been a while. I'm glad to see you still guessing.

You said buy CVX a month ago ? I'm glad I shorted you advice.

You may want to look for a buy signal in December or January though.

How'd you do with your WORSTPORT and CLNE bets ?

Barron’s likes CVX on valuation:

https://www.barrons.com/articles/buy-chevron-stock-price-pick-1783ee4a

CVX 3Q23 CC transcript:

https://www.fool.com/earnings/call-transcripts/2023/10/27/chevron-cvx-q3-2023-earnings-call-transcript/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article

CNBC numb nuts pump boy Tommy boy Lee, on right now, still has to pump even after getting his butt kicked pretty badly, he just can't admit he's been wrong.

good time to buy, imo

CVX 3Q23 results…

PR:
https://chevroncorp.gcs-web.com/static-files/a0d8dc4d-00e7-42a7-861f-601d8ab862f2

CC slides (with interspersed prepared remarks):
https://chevroncorp.gcs-web.com/static-files/1f105193-abbf-4315-81a7-45958fc9cd16

Note: Reported results and guidance will not include contributions from HES until the merger closes.

Great news today, might no reflect in today's tape, but will pay dividends for the next decade+

CVX raising dividend by 8% in Jan 2024:

https://www.chevron.com/newsroom/2023/q4/chevron-announces-agreement-to-acquire-hess In January, Chevron expects to recommend an increase to its first quarter dividend per share of 8% to $1.63, which will be subject to the approval of the Chevron Board of Directors. At the current share price (~$163), the new annualized payout of $6.52 is a yield of 4.0%.

The deal value is $60B, including ~$7B assumption of debt.

CVX-HES CC slides with interspersed prepared remarks:

https://chevroncorp.gcs-web.com/static-files/dd2d732f-6398-4e51-a339-dce610e93959

CVX-HES PR:

https://www.chevron.com/newsroom/2023/q4/chevron-announces-agreement-to-acquire-hess

CVX acquires HES for $171/sh in stock—in stock—a 5% premium to Friday’s close.

Countersue for malicious prosecution with defunct data and models!
https://www.cnbc.com/2023/09/18/california-sues-chevron-exxon-oil-giants-on-climate-change-deception.html

Stop putting corn in my fuel! It's lowering my gas mileage!