Chevron Corp Stock Price, News & Analysis

Chevron Corporation (NYSE: CVX) has raised its share buyback guidance to $5 - $10 billion per year. The company also increased its return on capital employed target to 12% by 2026 at $60 Brent and expects operating cash flow per share to grow 10% per year through 2026. Chevron reaffirmed its commitment to reducing carbon intensity and expanding new energy businesses, aiming for significant returns while balancing traditional and renewable energy investments.

Chevron has announced an agreement to acquire Renewable Energy Group, Inc. (REGI) for $3.15 billion in cash, equating to $61.50 per share. This strategic acquisition aims to enhance Chevron's renewable fuels production capacity, targeting 100,000 barrels per day by 2030. The deal is expected to be accretive to earnings and free cash flow in the first year after closing, with additional resources to accelerate growth. REG's CEO, Cynthia Warner, is anticipated to join Chevron's Board of Directors following the transaction, which is expected to close in H2 2022, pending shareholder and regulatory approvals.

Chevron Corporation (NYSE: CVX) has announced a new investment in Carbon Clean, a leader in carbon capture technology, aimed at reducing CO₂ capture costs. The partnership will explore a carbon capture pilot using Carbon Clean's CycloneCC technology in California's San Joaquin Valley. Chevron aims to capture 25 million tonnes of CO₂ annually by the decade's end, focusing on developing regional hubs to enhance carbon capture capabilities. This investment supports Chevron's commitment to lowering carbon emissions and advancing sustainable energy solutions.

Chevron has partnered with Iwatani Corporation of America to develop 30 hydrogen fueling sites across California by 2026. Chevron will fund the construction at its retail locations, aimed initially at light-duty vehicles with future adaptability for heavy-duty vehicles. Iwatani will manage operations and logistics for these sites, which will utilize excess hydrogen production from Chevron's Richmond Refinery. This initiative reflects Chevron's commitment to lowering transportation carbon emissions and advancing hydrogen as a clean energy source.

Chevron (NYSE: CVX) has initiated a pilot project with Project Canary to certify environmental performance at five sites in the North American upstream region. This partnership aims to enhance transparency in reducing methane emissions. Using the TrustWell™ Certification program, Project Canary will assess over 600 data points relevant to the environmental impact of Chevron's operations. The certification process is expected to start in the first half of 2022, with plans to supply Responsibly Sourced Gas to market by mid-2022, showcasing Chevron's commitment to lowering carbon emissions.

Chevron Corporation (NYSE: CVX) and Bunge Limited (NYSE: BG) have entered definitive agreements to form a joint venture focused on renewable fuel feedstocks. Bunge will contribute its soybean processing plants in Louisiana and Illinois, while Chevron will invest approximately $600 million in cash. The venture aims to double production capacity from 7,000 tons per day by the end of 2024 and explore further renewable opportunities. Chevron plans to produce 100,000 barrels per day of renewable diesel and sustainable aviation fuel by 2030, securing a reliable feedstock supply for lower carbon intensity fuels.

Chevron Corporation (NYSE: CVX) will hold its annual investor day on March 1, 2022, at 10:00 a.m. ET. The event will feature presentations and discussions led by key executives, including CEO Mike Wirth and other senior management members. Attendees will gain insights into Chevron's business strategies and future directions. Details for accessing the live webcast can be found on their official website. Chevron aims to enhance energy solutions while reducing carbon intensity in operations.

Chevron Corporation reported earnings of $5.1 billion for Q4 2021, a significant recovery from a $665 million loss in Q4 2020. Full-year earnings reached $15.6 billion, compared to a $5.5 billion loss in 2020. The company achieved record cash flow from operations of $29.2 billion and free cash flow of $21.1 billion in 2021. Chevron increased its dividend by 4% to $1.34 per share and announced a further 6% increase to $1.42. Net oil-equivalent production rose to 3.10 million barrels per day. Foreign currency effects positively impacted earnings by $306 million.

Chevron Corporation (NYSE: CVX) announced a quarterly dividend of $1.42 per share, marking an increase of 8 cents (approximately 6%) over the previous dividend. This increase positions Chevron for its 35th consecutive year of annual dividend growth. The dividend is payable on March 10, 2022, to shareholders recorded as of the close of business on February 16, 2022.

The company remains committed to providing affordable, reliable energy while focusing on reducing carbon intensity.