Chevron Corp. (NYSE:CVX) has seen a flurry of activities over the recent times. The energy company's shares have surged by 0.9% and are heavily searched by investors. Its substantial attention, specifically its robust fundamentals, the company's strong institutional backing, and favorable returns of 71% are noteworthy. Despite the cost increase in Tengiz Project and an exit from the U.K. North Sea, performance has remained steady. Recent divestments have been noted, such as selling Yadana's gas stake in Myanmar. Moreover, CVX is proactive with investments, pouring $24M into the Tamar Gas Field. Meanwhile, the $53B Hess deal faces potential legal hurdles and concerns of risk. On the innovation front, CVX has invested in Carbon Capture firm ION Clean Energy, partnered with Accelera for an Electrolyzer System, and created a $500M fund to invest in clean energy. Q1 2024 earnings, though they fell, did provide shareholders with record windfalls and equally important was the 8% dividend raise. Finally, the company is making legal settlements worth $13M for oil spills and continues to look ahead, resuming drilling operations in Venezuela.
Chevron Corporation CVX News Analytics from Mon, 11 Sep 2023 04:03:07 GMT to Sun, 26 May 2024 12:30:50 GMT -
Rating 7
- Innovation 6
- Information 8
- Rumor 6
