Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant. The Downstream segment engages in refining crude oil into petroleum products; marketing crude oil, refined products, and lubricants; transporting crude oil and refined products through pipeline, marine vessel, motor equipment, and rail car; and manufacturing and marketing commodity petrochemicals, and fuel and lubricant additives, as well as alkylate and plastics for industrial uses. It is also involved in the cash management and debt financing activities; insurance operations; real estate activities; and technology businesses. The company was formerly known as ChevronTexaco Corporation and changed its name to Chevron Corporation in 2005. Chevron Corporation was founded in 1879 and is headquartered in San Ramon, California.
IPO Year:
Exchange: NYSE
Website: chevron.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/5/2024 | $170.00 | Hold → Buy | DZ Bank |
| 10/17/2024 | $168.00 | Buy | BofA Securities |
| 7/18/2024 | Peer Perform | Wolfe Research | |
| 7/17/2024 | $183.00 → $167.00 | Outperform → Mkt Perform | Bernstein |
| 4/29/2024 | $155.00 → $160.00 | Hold | TD Cowen |
| 4/11/2024 | $195.00 | Sector Perform → Sector Outperform | Scotiabank |
| 4/10/2024 | $203.00 | Overweight | Barclays |
| 2/6/2024 | $160.00 | Buy → Hold | DZ Bank |
| 1/23/2024 | $170.00 → $150.00 | Outperform → Market Perform | TD Cowen |
| 1/16/2024 | Sector Outperform → Sector Perform | Scotiabank |
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Reported earnings of $4.5 billion; cash flow from operations of $9.7 billion Returned record $7.7 billion cash to shareholders Started up key U.S. Gulf of Mexico projects Optimizing portfolio with announced $6.5 billion sale of Canadian assets Chevron Corporation (NYSE:CVX) reported earnings of $4.5 billion ($2.48 per share - diluted) for third quarter 2024, compared with $6.5 billion ($3.48 per share - diluted) in third quarter 2023. Foreign currency effects decreased earnings by $44 million. Adjusted earnings of $4.5 billion ($2.51 per share - diluted) in third quarter 2024 compared to adjusted earnings of $5.7 billion ($3.05 per share - diluted) in third quarter 2023. See Attach
Chevron today announced a donation of $250,000 to support relief and recovery efforts after Hurricane Milton devastated parts of Florida. The funds will provide support for emergency teams and volunteer efforts. "Our thoughts are with the Florida residents as they recover from Hurricane Milton," said Mike Vomund, vice president of Fuel Sales, Chevron. "We understand that reliable energy is essential to the recovery process, and we are working to help restore fuel supplies to the impacted area as quickly and safely as possible. We are proud to support organizations like Fuel Relief Fund, Team Rubicon, and Volunteer Florida as they assist Florida communities through the recovery process."
Chevron: What: Chevron U.S.A. Inc. kicked off its volunteerism program called H-Town Blitz in partnership with Houston Texans Legends Community the first week of October. On October 17, the focus is on teaming with Kids' Meals Houston to set a new daily record by packing 18,000 brown bag lunches to be distributed to homes of deserving children across the Greater Houston Area. Chevron will also present Kids' Meals Houston with an $18,000 donation. Who: Josetta Jones, Chief Diversity and Inclusion Officer, Chevron Corporation Beth Harp, Chief Executive Officer, Kids' Meals Former Houston Texans players, Houston Texans Legends Community Chevron empl
Chevron Canada Limited, an indirect subsidiary of Chevron Corporation ("Chevron"), announced today that it and a related entity have entered into a definitive agreement to sell their 20 percent non-operated interest in the Athabasca Oil Sands Project, 70 percent operated interest in the Duvernay shale, and related interests, all located in Alberta, Canada, to Canadian Natural Resources Limited. The US$6.5 billion all-cash transaction has an effective date of September 1, 2024, and is expected to close during the fourth quarter of 2024, subject to regulatory approvals and other customary closing conditions. The assets subject to the agreement contributed 84 thousand boe/d of production, ne
Chevron Corporation (NYSE:CVX) today announced a donation of $250,000 to support immediate relief and recovery efforts after Hurricane Helene devastated parts of Florida, Georgia, North Carolina, South Carolina and Tennessee, causing catastrophic flooding and damage. The funds will provide support for emergency team and volunteer efforts. "This destructive hurricane has affected our neighbors far and wide, and our hearts go out to them," said Andy Walz, president of Downstream, Midstream and Chemicals. "We are committed to supporting the impacted communities during this challenging time as they navigate the recovery process." Fuel Relief Fund will receive $125,000 to support relief effor
Collaboration aims to enhance refining operations and workforce with advanced AI-Assisted technologies, including a new generation of alarm management solutions HOUSTON, Oct. 1, 2024 /PRNewswire/ -- Honeywell (NASDAQ:HON) today announced a strategic collaboration with Chevron (NYSE:CVX) to develop advanced artificial intelligence (AI)-Assisted solutions to help operators make decisions to enhance efficiency for refining processes and improve safety within the industrial automation space. These are among the new AI solutions Honeywell launched today to assist and help improve o
Chevron Corporation (NYSE:CVX), one of the world's leading energy companies, will hold its quarterly earnings conference call on Friday, November 1, 2024, at 11:00 a.m. ET (8:00 a.m. PT). Conference Call Information: Date: Friday, November 1, 2024 Time: 11:00 a.m. ET / 8:00 a.m. PT Dial-in # (Listen-only mode): 888-256-9157 Conference ID #: 8860912 Speakers: Mike Wirth – Chairman of the Board and Chief Executive Officer Eimear Bonner – Vice President and Chief Financial Officer Jake Spiering – General Manager, Investor Relations To access the live webcast, visit www.chevron.com. The meeting replay will also be available on the company website under the "Investors" section. Chevron is o
Chevron Corporation (NYSE:CVX) today announced the Federal Trade Commission (FTC) completed antitrust review of the company's merger with Hess Corporation (NYSE:HES), satisfying a key closing condition for the transaction. "This is an important step toward completing the merger, which will benefit our shareholders, the industry, and the country of Guyana, and add world class assets to our already advantaged portfolio," said Chevron Chairman and CEO Mike Wirth. "We look forward to completing the transaction and welcoming Hess into our company." To facilitate completion of the merger, Hess and Chevron have agreed that Hess CEO John Hess will not be appointed to the Chevron Board of Director
Technology group Wärtsilä, in partnership with Chevron Shipping Company LLC, plans to convert one engine on six of Chevron Transport Corporation Ltd.'s LNG Carriers from dual-fuel (DF) to spark gas (SG) operation. The conversions are intended to reduce greenhouse gas emissions by lowering methane slip in support of Chevron Shipping's broader efforts to reduce the carbon intensity of its operations. This marine industry first was made possible after two years of collaboration between the companies. The order for the first two vessels was booked by Wärtsilä in Q3 2024. LNG, when burned as a fuel, results in small amounts of methane that may not fully combust leading to methane escaping into
Wind-Assisted Ship Propulsion System is an LNG Shipping First As part of their ongoing commitment to lower the carbon intensity of their operations, Chevron Shipping Company LLC (Chevron), a subsidiary of Chevron U.S.A. Inc., and Mitsui O.S.K. Lines, Ltd. (MOL) announced an agreement to install Wind Challenger, a hard sail wind-assisted ship propulsion system developed by MOL and Oshima Shipbuilding together (Note 1), to a new build LNG carrier under long term charter from MOL Encean Pte. Ltd. (MOL's 100% indirectly owned subsidiary) to Chevron Asia Pacific Shipping Pte. Ltd. This vessel will mark the world's first LNG carrier equipped with Wind-Assisted Ship Propulsion Systems. This press
Investors with a lot of money to spend have taken a bearish stance on Chevron (NYSE:CVX). And retail traders should know. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CVX, it often means somebody knows something is about to happen. So how do we know what these investors just did? Today, Benzinga's options scanner spotted 13 uncommon options trades for Chevron. This isn't normal. The overall sentiment of these big-money traders is split between 23% bullish and 61%, bearish. Out of all of the special option
Oil stocks fell early Monday amid concerns that Vice President Kamala Harris could take a tougher stance on the oil and gas industry if she becomes the Democratic presidential nominee and wins the race for the White House. As California attorney general, Harris filed lawsuits against fossil fuel companies, supported reducing greenhouse gas emissions, and pushed for a ban on fracking, according to Offshore Technology. Harris has also been critical of offshore oil exploration and defended California's Low Carbon Fuel Standard. This potential shift in the political landscape has investors worried, with oil majors seeing declines on Monday. Oil Stocks Feeling The Heat At the time of
Truist Securities analyst Neal Dingmann maintains Chevron (NYSE:CVX) with a Hold and lowers the price target from $166 to $156.
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Benzinga's options scanner just detected over 8 options trades for Chevron (NYSE:CVX) summing a total amount of $309,250. At the same time, our algo caught 3 for a total amount of 99,565. Projected Price Targets Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $150.0 to $170.0 for Chevron over the last 3 months. Analyzing Volume & Open Interest Looking at the volume and open interest is an insightful way to conduct due diligence on a stock. This data can help you track the liquidity and interest for Chevron's options for a given strike price. Below, we can observe the evolution of the volume and open interest
Wolfe Research analyst Doug Leggate reinstates Chevron (NYSE:CVX) with a Peer Perform.
Chevron Corporation (NYSE:CVX) shares are trading higher today. QatarEnergy reportedly disclosed an agreement to acquire a 20% interest in an offshore block’s production-sharing contract in Suriname. Chevron, the operator of offshore block 5 in Suriname, will maintain a 40% stake and Paradise Oil Company will hold the remaining 40% of the interest, reported Reuters. Block 5, where QatarEnergy recently acquired a stake, is located offshore Suriname in shallow waters ranging from approximately 30 to 45 meters deep. The license is advancing into its second exploration phase, which includes a commitment to drill an exploration well. Currently, Suriname’s oil production is exclusively
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page. HSBC analyst Frank Lee downgraded the rating for QUALCOMM Incorporated (NASDAQ:QCOM) from Buy to Hold and announced a price target of $200. Qualcomm shares rose 0.7% to settle at $209.64 on Tuesday. See how other analysts view this stock. See how other analysts view this stock. Bernstein analyst Bob Brackett downgraded Chevron Corporation (NYSE:CVX) from Outperform to Market Perform, while cutting the price target from $183 to $167. Chevron shares fell 0.2% to close at $157.77 on Tuesd
Bernstein analyst Bob Brackett downgrades Chevron (NYSE:CVX) from Outperform to Market Perform and lowers the price target from $183 to $167.
Whales with a lot of money to spend have taken a noticeably bullish stance on Chevron. Looking at options history for Chevron (NYSE:CVX) we detected 12 trades. If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 41% with bearish. From the overall spotted trades, 2 are puts, for a total amount of $502,545 and 10, calls, for a total amount of $607,929. Predicted Price Range Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $130.0 to $185.0 for Chevron during the past quarter. Analyzing Volume & Open Interest Looking at the volume and
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DZ Bank upgraded Chevron from Hold to Buy and set a new price target of $170.00
BofA Securities resumed coverage of Chevron with a rating of Buy and set a new price target of $168.00
Wolfe Research resumed coverage of Chevron with a rating of Peer Perform
Bernstein downgraded Chevron from Outperform to Mkt Perform and set a new price target of $167.00 from $183.00 previously
TD Cowen reiterated coverage of Chevron with a rating of Hold and set a new price target of $160.00 from $155.00 previously
Scotiabank upgraded Chevron from Sector Perform to Sector Outperform and set a new price target of $195.00
Barclays initiated coverage of Chevron with a rating of Overweight and set a new price target of $203.00
DZ Bank downgraded Chevron from Buy to Hold and set a new price target of $160.00
TD Cowen downgraded Chevron from Outperform to Market Perform and set a new price target of $150.00 from $170.00 previously
Scotiabank downgraded Chevron from Sector Outperform to Sector Perform
Reported earnings of $4.5 billion; cash flow from operations of $9.7 billion Returned record $7.7 billion cash to shareholders Started up key U.S. Gulf of Mexico projects Optimizing portfolio with announced $6.5 billion sale of Canadian assets Chevron Corporation (NYSE:CVX) reported earnings of $4.5 billion ($2.48 per share - diluted) for third quarter 2024, compared with $6.5 billion ($3.48 per share - diluted) in third quarter 2023. Foreign currency effects decreased earnings by $44 million. Adjusted earnings of $4.5 billion ($2.51 per share - diluted) in third quarter 2024 compared to adjusted earnings of $5.7 billion ($3.05 per share - diluted) in third quarter 2023. See Attach
Chevron Corporation (NYSE:CVX), one of the world's leading energy companies, will hold its quarterly earnings conference call on Friday, November 1, 2024, at 11:00 a.m. ET (8:00 a.m. PT). Conference Call Information: Date: Friday, November 1, 2024 Time: 11:00 a.m. ET / 8:00 a.m. PT Dial-in # (Listen-only mode): 888-256-9157 Conference ID #: 8860912 Speakers: Mike Wirth – Chairman of the Board and Chief Executive Officer Eimear Bonner – Vice President and Chief Financial Officer Jake Spiering – General Manager, Investor Relations To access the live webcast, visit www.chevron.com. The meeting replay will also be available on the company website under the "Investors" section. Chevron is o
Reported earnings of $4.4 billion; adjusted earnings of $4.7 billion Record Permian production; worldwide production 11 percent higher than last year Returned $6 billion cash to shareholders; more than $50 billion over last two years Chevron Corporation (NYSE:CVX) reported earnings of $4.4 billion ($2.43 per share - diluted) for second quarter 2024, compared with $6.0 billion ($3.20 per share - diluted) in second quarter 2023. Foreign currency effects decreased earnings by $243 million. Adjusted earnings of $4.7 billion ($2.55 per share - diluted) in second quarter 2024 compared to adjusted earnings of $5.8 billion ($3.08 per share - diluted) in second quarter 2023. See Attachment
Chevron Corporation (NYSE:CVX), one of the world's leading energy companies, will hold its quarterly earnings conference call on Friday, August 2, 2024, at 11:00 a.m. ET (8:00 a.m. PT). Conference Call Information: Date: Friday, August 2, 2024 Time: 11:00 a.m. ET / 8:00 a.m. PT Dial-in # (Listen-only mode): 888-271-8608 Conference ID #: 3154534 Speakers: Mike Wirth – Chairman of the Board and Chief Executive Officer Eimear Bonner – Vice President and Chief Financial Officer Jake Spiering – General Manager, Investor Relations To access the live webcast, visit www.chevron.com. The meeting replay will also be available on the company website under the "Investors" section. Chevron is
Chevron Corporation (NYSE:CVX) today provided an overview of the company's business performance and plans at its 2024 Annual Meeting of Stockholders. "Chevron continues to deliver strong operational performance, maintain cost and capital discipline and consistently return cash to shareholders," said Michael Wirth, Chevron's chairman and CEO. "We've strengthened our portfolio to grow both traditional and new energy supplies by advancing major capital projects and completing strategic acquisitions." Chevron delivered the highest production in company history with annual production of 3.1 million barrels of oil-equivalent per day in 2023, underscoring the company's track record of strong l
Reported earnings of $5.5 billion; adjusted earnings of $5.4 billion Worldwide production 12 percent higher than a year ago Returned $6 billion cash to shareholders; eighth straight quarter over $5 billion Achieved key project milestones in Kazakhstan, East Mediterranean and U.S. Chevron Corporation (NYSE:CVX) reported earnings of $5.5 billion ($2.97 per share - diluted) for first quarter 2024, compared with $6.6 billion ($3.46 per share - diluted) in first quarter 2023. Foreign currency effects increased earnings by $85 million. Adjusted earnings of $5.4 billion ($2.93 per share - diluted) in first quarter 2024 compared to adjusted earnings of $6.7 billion ($3.55 per share - d
Chevron Corporation (NYSE:CVX), one of the world's leading energy companies, will hold its quarterly earnings conference call on Friday, April 26, 2024, at 11:00 a.m. ET (8:00 a.m. PT). Conference Call Information: Date: Friday, April 26, 2024 Time: 11:00 a.m. ET / 8:00 a.m. PT Dial-in # (Listen-only mode): 800-401-3551 Conference ID #: 4513820 Speakers: Mike Wirth – Chairman of the Board and Chief Executive Officer Eimear Bonner – Vice President and Chief Financial Officer Jake Spiering – General Manager, Investor Relations To access the live webcast, visit www.chevron.com. The meeting replay will also be available on the company website under the "Investors" section. Chevron i
Reported earnings of $2.3 billion; adjusted earnings of $6.5 billion Record $26.3 billion cash returned to shareholders in 2023 Record annual worldwide and U.S. production Announced an 8 percent increase in quarterly dividend to $1.63/share Chevron Corporation (NYSE:CVX) reported earnings of $2.3 billion ($1.22 per share - diluted) for fourth quarter 2023, compared with $6.4 billion ($3.33 per share - diluted) in fourth quarter 2022. Included in the current quarter were $1.8 billion of U.S. upstream impairment charges and $1.9 billion of decommissioning obligations from previously sold assets in the U.S. Gulf of Mexico. Foreign currency effects decreased earnings by $479 millio
Chevron Corporation (NYSE:CVX), one of the world's leading energy companies, will hold its quarterly earnings conference call on Friday, February 2, 2024, at 11:00 a.m. ET (8:00 a.m. PT). Conference Call Information: Date: Friday, February 2, 2024 Time: 11:00 a.m. ET / 8:00 a.m. PT Dial-in # (Listen-only mode): 800-401-3551 Conference ID #: 1036277 Speakers: Mike Wirth – Chairman of the Board and Chief Executive Officer Pierre Breber – Vice President and Chief Financial Officer Jake Spiering – General Manager, Investor Relations To access the live webcast, visit www.chevron.com. The meeting replay will also be available on the company website under the "Investors" section. Chevron
Chevron Corporation (NYSE:CVX) today announced an expected organic capital expenditure range of $15.5 to $16.5 billion for consolidated subsidiaries (capex) and an affiliate capital expenditure (affiliate capex) budget of approximately $3 billion for 2024. 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 achie
SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow" or "the Company") announced today that Leland "Lee" T. Jourdan has been appointed to the SilverBow Board of Directors (the "Board"), effective March 27, 2024. Mr. Jourdan's appointment is part of SilverBow's long-term and ongoing director search program conducted over the last 18 months with the assistance of a globally recognized search firm. Mr. Jourdan has deep experience in the oil and gas industry, and his leadership and accomplishments in promoting diversity, equity and inclusion ("DEI") have been widely recognized. He brings a demonstrated track record in international commercial and business development, mergers and acquisitions,
After 33 years of distinguished service, Mark Ross, President of Chevron Shipping Company, has elected to retire effective May 1, 2024. Barbara Pickering, currently Vice President of Operations, Chevron Shipping Company, will succeed Mark as President. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240124396325/en/Mark Ross, President, Chevron Shipping Company (Photo: Business Wire) Mark has led Chevron Shipping Company since 2015. Prior to that, he served as Vice President of Operations of the company for four years. He joined Chevron in 1990 and has held positions of increasing responsibility in Chevron's Midstream, Upstream,
Civitas Resources, Inc. (NYSE:CIVI) ("Civitas" or the "Company") today announced that Hodge Walker has been appointed Chief Operating Officer, effective April 5, 2023. He will replace Matt Owens who has left the company. Chris Doyle, President and CEO, said, "On behalf of the Board of Directors and the Company, I am pleased to welcome Hodge to Civitas. With more than 25 years of industry experience, Hodge has a proven track record of successfully leading teams and driving a culture of operational excellence. I am confident he will help advance our already strong team and our commitment to safe, efficient, and responsible operations. Finally, I would like to thank Matt for the significant
Alana Knowles named Vice President and Controller David Inchausti to retire after 35 years with Chevron Chevron Corporation (NYSE:CVX) today announced the appointment of Alana K. Knowles as vice president and controller, effective March 1, 2023. Knowles will succeed David A. Inchausti, who will resign from that position effective February 28, 2023, and is expected to retire from the company in April 2023, after 35 years of service. Knowles will lead Chevron's accounting policy and external reporting, financial reporting and analysis, internal controls and digital finance organizations. She will report to Pierre Breber, Chevron's vice president and chief financial officer. "Alana's bread
Chevron Corporation (NYSE:CVX) announced that the independent directors of the Chevron Board have selected Dr. Wanda M. Austin as lead independent director, effective May 25, 2022. Dr. Austin succeeds Dr. Ronald D. Sugar in that role, who will remain on the Chevron Board. Austin has served on the Chevron Board since December 2016. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220526005717/en/(Photo: Business Wire) "We are pleased to announce Dr. Austin's selection as our next lead independent director," said Mike Wirth, chairman and CEO. "Wanda was selected by the independent directors of the Board based on her thoughtful leader
Chevron Corporation (NYSE:CVX) today announced the appointment of Eimear Bonner as vice president, reporting to Chairman and CEO Michael Wirth, effective August 2. Bonner will also continue as president, Chevron Technical Center, and chief technology officer, overseeing the application of technology, research and development, and Chevron's digital strategy. "I welcome Eimear to Chevron's executive leadership team," Wirth said. "Eimear is an accomplished leader. Her perspective, earned through numerous assignments managing some of the company's most significant assets, prepares her to serve our company and our stockholders well in this key role." Bonner, 47, served as general director of C
Seasoned business leader brings operational and DEI expertise to fuel next phase of corporate growth PROS Holdings, Inc. (NYSE:PRO), a provider of AI-powered solutions that optimize selling in the digital economy, today announced the appointment of Leland T. "Lee" Jourdan to its board of directors effective June 1, 2021. Jourdan joins the board as an independent director. Jourdan is a seasoned business development and diversity, equity and inclusion (DEI) leader within the Oil & Gas industry. Recently retired from Chevron (NYSE:CVX), he spent the past 18 years in senior management roles including Chief Diversity and Inclusion Officer, Senior Management Sponsor, and Vice President, Commerc
SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) announced that Marillyn A. Hewson has been elected to Chevron’s board of directors, effective on January 1, 2021. She will serve on the Audit Committee of the Board. Hewson, 66, is executive chairman of Lockheed Martin Corporation. She served as Lockheed Martin’s chairman, president and chief executive officer from January 2014 to June 2020 and held the positions of president and chief executive officer from January 2013 to December 2013. “It’s truly an honor to welcome Marillyn to Chevron’s board,” said Chevron Chairman and CEO Michael Wirth. “Marillyn is one of the world’s most accomplished business leaders. S
HOUSTON--(BUSINESS WIRE)--Maverick Natural Resources, LLC (“Maverick” or the “Company”) announced today that it has acquired FourPoint Energy, LLC (“FourPoint”), the largest producer in the Western Anadarko Basin. In conjunction with the all-equity merger, FourPoint became a wholly owned subsidiary of Maverick and was renamed Unbridled Resources, LLC (“Unbridled”). Both Maverick and FourPoint are majority controlled by EIG Global Energy Partners (“EIG”) managed funds. The acquired assets produce approximately 50,000 net barrels of oil equivalent per day (47% liquids) from Western Oklahoma and Northern Texas. The Unbridled position spans 700,000 acres across the core of the Granit