Chevron not cutting conventional energy business, CFO says

  • Chevron (NYSE:CVX) has no plans to reduce its oil and gas business in favor of more wind and solar energy unlike some rivals, CFO Pierre Breber tells Reuters, despite pressure to lower carbon emissions.
  • The company will invest ~$3B through 2028 toward lowering emissions, including $2B allocated to address lowering carbon emissions in its own operations and another $750M for renewable fuels such as renewable natural gas, Breber said today at a Reuters energy transition conference.
  • Chevron shareholders voted last month in favor of a non-binding resolution calling on the company to reduce emissions generated by the use of its products.

    For this year the company, based in San Ramon revenue will be around 142.03 billion USD. This is according to the average of the analysts' estimates. This is quite more than 2020's revenue of 94.47 billion USD.

    Historical revenues and results Chevron plus estimates 2020

    koersdata

    The analysts expect for 2021 a net profit of 11.02 billion USD. For this year the consensus of Chevron 's result per share is a profit of 5.96 USD. With this the price/earnings-ratio is 17.45.

    Huge dividend Chevron

    Analysts expect a dividend of 5.31 USD per share. Thus the dividend yield equals 5.11 percent. The average dividend yield of the oil & gas producers is a good 3.08 percent.

    Newest target prices around 82 USD

    The most recent recommendations for the oil & gas producer are from RBC Capital Markets, ABN AMRO and Citigroup .

    Chevron 's market capitalization is based on the number of outstanding shares around 195.73 billion USD. The Chevron stock was the past 12 months quite unstable. Since last July the stock is even 27 percent higher. This year the stock price moved between 65 and 113 dollar.

    Historical stock prices Chevron2007-2021

    stock graphs chevron

    At 16.28 the stock trades 1.46 percent lower at 103.99 USD.

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