Chevron Corporation (NYSE:CVX) has been through turbulent times in the recent past. Despite losing approximately US$11 billion in market cap in the previous week, shareholders have observed a significant upturn of 63% over the past three years. Considering its resilient performance, multiple sources argue about retaining Chevron in an investment portfolio. Chevron has extended its shelf drilling contract to 2026, demonstrated strong institutional backing of 67%, and has restarted full operations at its Gorgon LNG plant. However, some doubts have arisen regarding CEO compensation. Despite facing some backlash for its Rig-to-Reef strategy and a cost increase of $1.5 billion for its Tengiz project, Chevron’s overall performance remains solid. Its potential as a dividend aristocrat remains, which is appealing to many investors. The much-discussed deal with Hess for a $53 billion takeover is still under review. Though Chevron has recently faced some decline in stock performances, strong U.S. production bolstered its Q1 earnings. In the company’s continuous pursuit of innovation, they have partnered with Ai-powered seismic modelling venture – Eliis, and Accelera for an electrolyzer system. With such mixed results, both optimism and caution are advised for investors.
Chevron Corporation CVX News Analytics from Fri, 27 Oct 2023 07:00:00 GMT to Sun, 09 Jun 2024 14:00:13 GMT -
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- Innovation 3
- Information 4
- Rumor -4
