Chevron Corp Stock Price, News & Analysis

Chevron Corporation (NYSE: CVX) reported a net income of $3.1 billion for Q2 2021, marking a significant recovery from a loss of $8.3 billion in Q2 2020. Adjusted earnings were $3.3 billion, compared to an adjusted loss of $2.9 billion the previous year. Sales surged to $36 billion, up from $16 billion. Upstream production averaged 3.13 million barrels per day, a 5% increase year-over-year. The company plans to resume share repurchases at a rate of $2-3 billion annually and is focusing on renewable energy initiatives, including hydrogen collaboration agreements.

Chevron Corporation (NYSE: CVX) has appointed Jeff Gustavson as president of Chevron New Energies, effective August 2, 2021. He will lead a new organization aimed at exploring low-carbon opportunities, focusing on hydrogen, carbon capture, and biofuels. CEO Michael Wirth emphasized this move aligns with Chevron's strategy for higher returns and lower carbon emissions. Ryder Booth has been appointed as the vice president of Chevron North America Exploration & Production Company, succeeding Gustavson. Further details on Chevron’s projects will be shared during an investor presentation on September 14.

The Board of Directors of Chevron Corporation (CVX) has declared a quarterly dividend of $1.34 per share, payable on September 10, 2021. This announcement reflects Chevron's commitment to providing consistent income to its shareholders. As a leading integrated energy company, Chevron aims to produce reliable energy while focusing on lowering carbon intensity and investing in low-carbon technologies. The record date for this dividend is August 19, 2021.

Chevron Corporation (NYSE: CVX) announced that its subsidiary, Chevron Australia Pty Ltd, will advance the $4 billion (AU$6 billion) Jansz-Io Compression (J-IC) project. This investment marks a significant commitment to Australian operations, following the Gorgon Stage 2 project. The J-IC project aims to enhance gas supply from the Jansz-Io field to the LNG plants on Barrow Island using advanced subsea compression technology, which will help in energy transitions across the Asia Pacific. Construction is projected to take five years.

Chevron Corporation (NYSE: CVX) is set to hold its quarterly earnings conference call on July 30, 2021, at 11:00 a.m. ET. The call will feature key executives including Jay Johnson, Executive Vice President, Upstream, and Pierre Breber, CFO. Investors can listen via dial-in numbers 646-828-8156 or 800-289-0585 using Conference ID 8697566. The live webcast will be available on www.chevron.com, with a replay accessible under the Investors section.

Chevron Products Company announced the launch of its new Chevron xpress lube program aimed at U.S. fast lube owners. The inaugural site is operational in Fountain Hills, AZ, with plans for further expansion. This initiative allows independent operators to leverage the Chevron brand without traditional franchise fees. Chevron aims to attract consumers with its established reputation for quality. The xpress lube locations will offer Chevron's premium products and require owners to maintain high customer satisfaction scores.

Michael Wirth, chairman and CEO of Chevron (NYSE: CVX), will participate in the Bernstein Strategic Decisions Conference on June 2, 2021, at 3:30 PM EDT. He will discuss Chevron's corporate strategy aimed at achieving higher returns while reducing carbon emissions. Chevron is recognized as a leading integrated energy company, focusing on producing oil and gas, manufacturing fuels and lubricants, and investing in low-carbon technologies. The conversation will also include a Q&A session. For more details, visit www.chevron.com/investors.

Chevron Corporation (NYSE: CVX) outlined its business priorities and outlook during its virtual annual stockholders meeting. The company emphasized a strong portfolio performance amid challenging conditions, focusing on balance between short-term cash flow and long-term value. CEO Michael Wirth highlighted a commitment to lower carbon operations, increased use of renewables, and advancements in low-carbon technologies. Chevron aims to protect its dividend for the 34th consecutive year, enhance capital efficiency, and maintain a strong balance sheet while continuing share repurchases.

Chevron Corporation (NYSE: CVX) has successfully acquired Noble Midstream Partners LP (NASDAQ: NBLX), transforming Noble Midstream into a wholly-owned subsidiary. Following this acquisition, Noble Midstream’s common units are no longer listed on the Nasdaq. Chevron aims to enhance governance and strengthen its operations in the DJ and Permian basins. This integration is expected to streamline operations and boost strategic positioning in these key markets.