Chevron continues to outperform the market amidst growing speculation over where oil prices are headed next. The stock is no longer cheap on a historical basis, but that doesn't impact its long-term attractiveness. I take a closer look at some key differences between now and the last time when CVX traded at such high multiples.
U.S. imports of Venezuelan crude jumped by 183,000 barrels per day in the week ended Sept. 11, reaching 782,000 barrels per day, according to the U.S. Energy Information Administration.
Chevron Corporation remains a buy, leveraging Middle East supply shocks into strong earnings and cash flow with limited direct regional exposure. CVX benefits from elevated oil prices, improved capital efficiency, Hess synergies, and a robust balance sheet, supporting continued dividends and share repurchases. Growth vectors in Guyana, Venezuela, U.S. shale, and data center power diversify future earnings, though Venezuela and Project Kilby carry execution and political risks.
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Chevron just posted its strongest downstream quarter in years while quietly signing a power deal with Microsoft that management calls a repeatable model independent of oil prices.
In the closing of the recent trading day, Chevron (CVX) stood at $217.59, denoting a +2.55% move from the preceding trading day.
Chevron's CEO is convinced the world's emergency oil buffers are gone for good, and he is putting $7 billion behind that conviction in one of the riskiest oil patches on earth.
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CVX is expanding its LNG ambitions across Argentina, the Mediterranean, Australia and Africa while targeting emerging Asian markets.
CVX's record production, strong cash flow and rising earnings estimates could position it for further upside as oil buffers tighten.
Berkshire Hathaway sat completely still on three dividend-paying positions last quarter, collecting checks without making a single trade. Here is what that unusual stillness signals for income investors building their own quarterly cash flow.