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  • Today, 3:35 AM
    • In a highly anticipated opening to foreign oil companies, Mexico will hold its first auction of deepwater oil and gas blocks today.
    • The waters are believed to hold important energy reserves, but Mexico's longtime national oil company Pemex, does not have the capital or expertise to develop them.
    • Investors are closely watching the results as a measure of the energy overhaul's success as well as potential bidders BP, Chevron (NYSE:CVX), Petrobras (NYSE:PBR) and Statoil (NYSE:STO).
    • ETFs: EWW, MXF, MXE, UMX, DBMX, SMK, QMEX, HEWW
    | Today, 3:35 AM
  • Thu, Dec. 1, 11:46 AM
    • November monthly performance was: +2.44%
    • AUM of $1.26B
    • 52-week performance vs. the S&P 500 is: +6%
    • $0.18 in dividends were paid in November
    • Top 10 Holdings as of 10/31/2016: Exxon Mobil Corp (XOM): 5.06236%, AT&T Inc (T): 5.00966%, Verizon Communications Inc (VZ): 3.95123%, Chevron Corp (CVX): 3.90836%, General Electric Co (GE): 3.34327%, Procter & Gamble Co (PG): 3.22338%, Wal-Mart Stores Inc (WMT): 2.96781%, Philip Morris International Inc (PM): 2.82773%, Pfizer Inc (PFE): 2.73807%, Merck & Co Inc (MRK): 2.31749%
    | Thu, Dec. 1, 11:46 AM
  • Thu, Dec. 1, 10:21 AM
    • The price of oil pushed through $50 per barrel today, and is currently posting a 2.9% advance on the session at $50.91.
    • The S&P 500 is flat and Nasdaq is down 0.45%, but the XLE has tacked on another 1.8% to yesterday's big rise.
    • Mid-cap movers: Enerplus (ERF +8.2%), Southwestern Energy (SWN +7.9%), Range Resources (RRC +5.3%), Weatherford (WFT +7.1%), Ensco (ESV +8.2%), Crescent Point (CPG +6.3%).
    • Among the large players: Exxon (XOM +1.1%), Chevron (CVX +2%), Shell (RDS.A +2.2%), (RDS.B +2.3%), BP (BP +2.4%), ConocoPhillips (COP +2%), Marathon (MRO +3.1%), Halliburton (HAL +2.3%)
    | Thu, Dec. 1, 10:21 AM | 55 Comments
  • Wed, Nov. 30, 5:45 PM
    • Big oil earnings will double next year as crude prices continue to march higher and oilfield services costs remain depressed, Evercore ISI head of energy research Doug Terreson tells CNBC.
    • Terreson's top picks are Royal Dutch Shell (RDS.A, RDS.B), BP, ExxonMobil (NYSE:XOM) and Chevron (NYSE:CVX), but he also sees upside for smaller independent E&P companies and oilfield services firms.
    • "While we expected OPEC to cut production, today's outcome exceeded our expectations," Terreson says, "so this is a positive outcome for the oil markets, and we also think for the outlook for energy stocks in 2017 too," adding that he is "unrepentantly bullish."
    | Wed, Nov. 30, 5:45 PM | 34 Comments
  • Wed, Nov. 30, 9:50 AM
    | Wed, Nov. 30, 9:50 AM | 31 Comments
  • Wed, Nov. 30, 8:11 AM
    • Chevron (NYSE:CVX) says it has temporarily halted output from one of the two production units at its Gorgon liquefied natural gas plant off Australia's west coast.
    • The stoppage, which CVX blames on "recent performance variations," is the latest in a string of outages to hit the $54B project since its March start-up; the company has not said how long the shutdown would last.
    • Gorgon will have the capacity to produce 15.6M metric tons/year of LNG when all three of its production trains are operating.
    | Wed, Nov. 30, 8:11 AM | 4 Comments
  • Tue, Nov. 29, 10:20 AM
    | Tue, Nov. 29, 10:20 AM | 50 Comments
  • Tue, Nov. 29, 8:55 AM
    • Chevron (NYSE:CVX) is teaming up with Mexico's Pemex and Japan’s Inpex to bid for the right to explore for oil and natural gas in Mexico's first-ever deepwater auction, set for Dec. 5.
    • The auction marks the first time Mexico's state-owned operator will partner with private companies to develop crude in the Gulf of Mexico, and is one of seven groups and eight individual bidders to qualify for participation.
    • Total (NYSE:TOT) is joining forces with BP and Statoil (NYSE:STO) in one group, and with ExxonMobil (NYSE:XOM) in another, while Eni (NYSE:E) and Lukoil (OTCPK:LUKOY, OTC:LUKOF) also joined up, and Anadarko Petroleum (NYSE:APC) and Royal Dutch Shell (RDS.A, RDS.B) formed another group; other companies involved include BHP, CEO, MUR.
    • The Mexican regulator has not specified which bids are for the Trion field joint venture with Pemex or for the other areas.
    | Tue, Nov. 29, 8:55 AM | 7 Comments
  • Tue, Nov. 22, 3:37 PM
    • With $4.5B of short interest, Exxon Mobil (NYSE:XOM) leads the way, followed by IBM at $3.7B. Rounding out the top ten: AT&T (NYSE:T), Caterpillar (NYSE:CAT), Chevron (NYSE:CVX), Boeing (NYSE:BA), GE, Procter & Gamble (NYSE:PG), Abbot Labs (NYSE:ABT) and Disney (NYSE:DIS).
    • Most interesting from that list are Cat, Boeing, and Abbot Labs as their market caps are significantly smaller than the other seven.
    • Of the top 50 short positions, there are two names in which the short interest rises to as high as 10% of the market cap: Freeport-McMoRan (NYSE:FCX) and Digital Realty Trust (NYSE:DLR).
    • Previously: Goldman's list of stock longs mattering most to hedge funds (Nov. 22)
    | Tue, Nov. 22, 3:37 PM | 17 Comments
  • Mon, Nov. 21, 7:14 PM
    • ExxonMobil (NYSE:XOM) and Chevron (NYSE:CVX) are among the oil majors least prepared for a shift to a greener global economy, according to a report by CDP, a non-profit group that collects company environmental data on behalf of 800-plus institutional investors.
    • Only Suncor Energy (NYSE:SU) scores worse in the study of the readiness of big energy companies in transitioning to a low carbon economy and a future in which natural resources such as water become increasingly scarce.
    • European companies fare the best: Statoil (NYSE:STO) ranked first, in part because it had the highest share of gas in its stock of proven reserves, Eni (NYSE:E) scored second, thanks to its big gas projects in the pipeline, and Total (NYSE:TOT) was third due to its stakes in SunPower and the Saft batery maker.
    • XOM "performs below its peers in its emissions performance and wider climate governance and strategy considerations," according to the report.
    | Mon, Nov. 21, 7:14 PM | 48 Comments
  • Fri, Nov. 18, 7:58 AM
    • FuelCell Energy (NASDAQ:FCEL+8.3% premarket on news it signed a contract with Alberta Innovates for an engineering study on a fuel cell carbon capture application at a heavy oil thermal facility owned by Husky Energy (OTCPK:HUSKF) in Saskatchewan.
    • FCEL says it will develop and prove the application for a carbon capture configured megawatt-class fuel cell power plant to simultaneously concentrate and capture carbon while producing ultra-clean power.
    • A second potential site, the Scotford bitumen upgrading facility in Alberta, will be evaluated as part of the study; the upgrader is part of the Athabasca Oil Sands Project, a joint venture between operator Shell (RDS.A, RDS.B), Chevron (NYSE:CVX) and Marathon Oil (NYSE:MRO).
    | Fri, Nov. 18, 7:58 AM | 8 Comments
  • Thu, Nov. 17, 2:51 PM
    • Chevron (CVX -0.6%) has reaffirmed its plan to drill four exploration wells in the Great Australian Bight, despite BP's recent withdrawal from its exploration of the region.
    • An Australian senate committee hearing this week heard the general manager of CVX's Australian exploration say the company was still planning to drill in 2017 or 2018 as world oil prices rebound.
    • In the hearing, CVX expressed confidence in its ability to drill without mishap, saying the company had successfully drilled more than 80 wells off Western Australia without a single loss-of-control incident.
    | Thu, Nov. 17, 2:51 PM | 2 Comments
  • Thu, Nov. 17, 11:57 AM
    • Nigeria's government says it reached a $5.1B settlement to reimburse foreign oil companies including ExxonMobil (NYSE:XOM), Royal Dutch Shell (RDS.A, RDS.B), Chevron (NYSE:CVX), Total (NYSE:TOT) and Eni (NYSE:E) for operating costs incurred during 2010-15.
    • The amount, less than the $6.8B previously discussed, will be settled through crude oil sales over five years and will be interest free, according to the petroleum minister.
    • Nigeria still owes the companies $2.6B from operations this year.
    | Thu, Nov. 17, 11:57 AM | 16 Comments
  • Tue, Nov. 15, 3:48 PM
    • CLSA upgrades Chevron (CVX +2.3%) and EOG Resources (EOG +2%) while downgrading BP (BP +1.8%) and ConocoPhillips (COP +2.4%) following Q3 group earnings results that were better than expected, mainly benefiting from self-help initiatives.
    • The firm upgrades CVX to Buy from Outperform with a $127 price target, believing the company’s strategic shift towards its short-cycle upstream business is a game changer and that the Permian update in its Q3 conference call is "just the beginning."
    • CLSA upgrades EOG to Outperform from Underperform with a $105 target, as the Yates transaction in September creates a platform with 6K premium locations, and sees significant further upside underpinned by EOG’s technical innovation and operational excellence.
    • However, BP is downgraded to Outperform from Buy with a $37 target, as BP has done a remarkable job in positioning for long-term growth with cash breakeven at $50-55/bbl, but the firm awaits clarity on a Lower 48 strategy.
    • Finally, COP is cut to Underperform from Outperform with a $47 target, as the lack of meaningful Delaware/Midland Basin shale exposure is a key negative vs. other large-cap E&P peers.
    • Oil and gas stocks are broadly higher today in a very strong session for crude oil.
    | Tue, Nov. 15, 3:48 PM | 12 Comments
  • Tue, Nov. 15, 10:49 AM
    | Tue, Nov. 15, 10:49 AM | 7 Comments
  • Mon, Nov. 14, 8:17 AM
    • Chevron (NYSE:CVX) says production at its $54B Gorgon liquefied natural gas export project has safely resumed operations following a temporary shutdown last week.
    • The shutdown was unplanned and caused by work on the facility’s acid removal unit, the project's third stoppage since it started production in March; the acid removal unit was thought to have been the cause of a long shutdown in June following a gas leak.
    • CVX says production from Gorgon's Train 2 was unaffected and continues to ramp up.
    | Mon, Nov. 14, 8:17 AM