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Chevron Corporation (CVX)

  • Jun. 4, 2012, 11:14 AM
    Investors took advantage of the recent horrid tape in the energy sector to pour money into its SPDR (XLE) last week, the fund taking in more than a $1B - nearly 16% of AUM. The top 3 holdings - Exxon (XOM), Chevron (CVX), and Schlumberger (SLB) - account for 40% of the fund.
  • Jun. 4, 2012, 10:34 AM
    Chevron (CVX) and ConocoPhillips (COP) sign a letter of intent with the government of Iraq to evaluate the feasibility of developing a petrochemical plant in the country. The joint venture and the government decline to provide further details, including cost estimates or dates for the project.
  • Jun. 4, 2012, 9:15 AM
    Chevron (CVX) reportedly is interested in developing matured oilfields off the coast of Mexico that are part of state-run oil firm Pemex's second contract auction held since introducing a new contract regime allowing private producers to develop Mexican oil fields for Pemex in exchange for a per-barrel fee.
  • Jun. 1, 2012, 2:40 PM
    Chevron's (CVX -1.7%) profitability for its E&P segment, measured by the efficiency at which the company invests capital, surpassed Exxon's (XOM -0.7%) in 2011 for the first time ever. CVS says its return on capital employed for its upstream segment was 29%, vs. XOM's 26.5%; also, the amount CVX earns per barrel of oil and gas produced is much higher than XOM's.
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  • May 31, 2012, 5:05 PM
    Dividend yields look increasingly attractive vs. record low Treasury yields, and Morgan Stanley argues the payout ratio of dividend stocks is near an all-time low and could increase substantially. The firm adds T to its dividend portfolio while removing XOM and UNP; "fundamentally and quantitatively attractive" are CVX, MET, FCX, BEN, CAH, FITB, STJ, SPLS.
  • May 31, 2012, 8:39 AM
    Lawyers representing residents of an Amazon rain forest filed a lawsuit in Canada to seize assets there belonging to Chevron (CVX) as part of their effort to collect an $18.2B judgment they won in Ecuador in a pollution case. The plaintiffs say they will try to seize CVX assets in countries where it operates to force it to pay the judgment, a prospect the company says could cause it "irreparable harm."
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  • May 30, 2012, 2:57 PM
    Shareholder proposals requiring greater disclosure on the risk and impact of hydraulic fracturing practices are voted down by wide margins at ExxonMobil (XOM) and Chevron (CVX). At XOM, 70% of shareholders reject the risk report vs. 72% disapproval of a similar measure last year; the CVX measure attracts even less support than a year ago.
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  • May 30, 2012, 12:30 PM
    The energy sector (XLE -3%) is suffering the day's biggest losses, weighed by tumbling crude oil futures which fell to seven-month lows as the dollar surges vs. the euro. Among the biggest decliners: KWK -8.3%, DNR -7%. Drilling equipment makers: RDC -6.8%, NE -5.2%, NBR -4.7%. Dow components: CVX -2.5%, XOM -2.2%.
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  • May 25, 2012, 2:47 PM
    A shareholder group led by NY State Comptroller Thomas DiNapoli urges Chevron (CVX) to settle a 20-year legal battle against indigenous people in the Ecuadorian rainforest. But the Ecuadorian court's damage award in the alleged dumping of oil waste - $18B - isn't chump change, and CVX says the case is fraught with fraud.
  • May 25, 2012, 8:58 AM
    At the top of Goldman Sachs' VIP List of 50 stocks most important to hedge funds is Apple (AAPL), followed by GOOG, ESRX, MSFT, QCOM, C, GM, PCLN, JPM and LMCA. Leading the list of the firm's top 50 short positions is JNJ, XOM, INTC, IBM, AMZN, T, CVX, VZ, DUK and DIS.
  • May 22, 2012, 10:40 AM
    Nigeria's oil minister says it expects to renew onshore oil drilling licenses with Chevron (CVX) and Royal Dutch Shell (RDS.A, RDS.B) by June. Several licenses that expired as far back as 2008 have been in negotiations between foreign oil majors, Nigeria's state-oil firm and government for years.
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  • May 16, 2012, 10:11 AM
    Tokyo Electric Power (TKECY.PK), Mitsubishi (MBFJF.PK) and shipping company Nippon Yusen (NPNYY.PK) are in talks to pay $4.4B for a stake in Chevron's (CVX +1.2%) Wheatstone natural gas project in Australia. It's one of several Australian LNG projects aiming to meet rising Asian demand, as Japan ramps up thermal power generation after the Fukushima disaster shut all its nuclear stations.
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  • May 14, 2012, 10:57 AM
    Why an opportunity to buy Chevron (CVX -1%) at $90 could be ahead, according to Trade in Mexico: lower oil prices already breaking below $95/bbl that could go lower, and the "contamination bomb" caused by Brazil's multi-billion dollar oil spill lawsuit. "However, Chevron is a top quality long-term holding, and [would be] worth buying ~$90."
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  • May 14, 2012, 8:16 AM
    Chevron (CVX) signs a deal to sell Japan's Tohoku Electric 1M tonnes of liquefied natural gas per year for 20 years. The gas will come from its $29B Wheatstone project in Western Australia, still under construction. Japan is ramping up natural gas use due to a shortfall in nuclear power output following last year's Fukushima disaster.
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  • May 10, 2012, 8:39 AM
    Chevron (CVX) and Royal Dutch Shell (RDS.A) reportedly are set to be named by Ukraine ahead of Eni (E), ExxonMobil (XOM) and TNK-BP (BP) to explore two vast fields for unconventional natural gas resources. The tender could lead to some of the biggest shale gas extraction projects in Europe. CVX +0.6%, RDS.A -0.3% premarket.
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  • May 7, 2012, 4:32 PM
    A Brazilian judge tosses a lawsuit launched by the country's largest oil workers union which sought to ban Chevron (CVX) and Transocean (RIG) from operating because of an oil spill last year. But there's still the 20B real ($10.9B) federal lawsuit and the 17 CVX and RIG employees caught up in criminal charges over the spill.
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Company Description
Chevron Corp provides administrative, financial, management and technology support to U.S. & international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining operations, and power and energy services.