Chevron Corporation (CVX)
1 Magnificent High-Yield Energy Stock Down 20% to Buy and Hold Forever
Chevron's (CVX 0.63%) shares are down just about 20% since hitting a peak in 2022. Brent Crude, a key oil benchmark, is down around 40% since 2022.
Chevron Plans 20% Workforce Reduction to Stay Competitive
CVX intends to cut 15-20% of its workforce by 2026 as part of its cost-cutting initiative, aiming for $3B in savings amid industry challenges.
With Little Moves and Big Results, Devon Energy Is Succeeding in ExxonMobil and Chevron's Shadow
Devon Energy (DVN 0.74%) recently completed the acquisition of assets in the Williston Basin (in the northern central U.S.) worth roughly $5 billion. That's a tiny deal relative to the roughly $53 billion Hess (HES 0.72%) acquisition that Chevron (CVX 0.63%) is attempting to complete.
Chevron's Declining Oil Reserves to be Supported by Hess' Guyana Asset
CVX's pressing concern of dwindling oil and gas reserves defines the urgency of the planned acquisition of Hess' Guyana assets.
Chevron: Why I Am Backing Up The Truck
Chevron's earnings-related slump presents a buying opportunity for passive income investors, offering a high-quality 5% dividend yield and future dividend growth prospects. Despite missing 4Q24 estimates, Chevron's strong upstream performance and growth in the Permian and Kazakhstan support its long-term profit and production growth. Chevron's profit growth and cost-saving initiatives, coupled with a compelling profit multiple, make it an attractive investment compared to peers like Exxon Mobil.
Chevron trimming headcount by 15%-20% in layoffs
Chevron is seeking to trim its headcount by a sizable amount, with Vice Chair Mark Nelson saying they will impact 15%-20% of workers.
Chevron: $70 Oil Price Won't Last
Since my last writing, oil prices have suffered a sizable correction. The current oil price is too compressed in my view, creating a large bias for CVX's profits to expand. Key catalysts that can drive oil prices higher: The low level of the U.S. Strategic Petroleum Reserve and low overall crude stocks in the U.S.
Oil giant Chevron to lay off thousands in bid to cut up to 20% of global workforce
No 2 US oil firm aims for $3bn in cost cuts through 2026 and seeks to simplify business after production challenges
Chevron Will Lay Off Up To 20% Of Employees—Impacting Up To 9,100
Energy giant Chevron will let go of up to a fifth of its more than 45,000 employees, the company confirmed in a statement Wednesday to Forbes, becoming the latest American giant to announce a significant reduction to its headcount.
Chevron to cut up to 20% of workforce by 2026 amid cost-cutting push, Exxon legal battle
Chevron plans to lay off between 15% and 20% of its global workforce by the end of 2026 as part of a broader effort to reduce costs and streamline operations, the US oil giant announced on Wednesday.
Chevron slashing up to 8K jobs — as much as 20% of workforce — in major revamp of oil giant
The layoffs come as the company has said it is targeting $3 billion in cost cuts through 2026 from leveraging technology, asset sales and changing how and where work is performed.
Chevron wants to save about $3 billion. Layoffs are on the horizon.
The integrated energy company said that layoffs will affect 15% to 20% of its employees, starting this year and with most layoffs completed before the end of 2026.
