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WisdomoftheWise profile picture
Given the issue of inflation and the current market, investing in CVX (and oil) is a good defensive move at this time. CVX has a strong balance sheet and they will be able to pay good dividends even if the economy goes south for awhile. The need for petroleum products is not going away for a few decades since the transition to renewables will not happen overnight. People seem to forget that.
HiSell profile picture
Is this about BRK or CVX? I think oil is in for a supercycle, cant see oil dropping below $100 anytime soon at least not in the next two years. Not too many better plays in this bear market.
Laura Lea profile picture
@HiSell I think it is about CVX, but about BRK buying CVX. How high do you think CVX will go? 200? 300?
HiSell profile picture
@Laura Lea it could get much higher, the last peak of oil was $145 in June 2008 (~ $225 in today's money). I feel it could easily get to $140 due to declining reserves and Russia is the unknown. CVX is not my preferred play, for pure oil and gas exposure I prefer Woodside (WPL.AX)
Laura Lea profile picture
@HiSell I will take a look at Woodside
bet727 profile picture
How did that workout for you?
I don’t really know the details about CVX’s assets and their useful life. But I see them being in the right business at the right time. The world will need oil for the next 50 years minimum and with the constraints on production around the world the next few years should be very lucrative for those with reserves. Now that Russia has essentially removed 4 million barrels a day from the market high prices are here to stay. In inflationary times you want hard assets. I see Buffett’s move allocating more money to this sector as prudent and smart. The man always seems to win and this time should be no different. If you don’t agree with putting money in natural resources I’d love to hear where you think it’s best deployed. Tech? Bonds? Consumer staples? The environment we have operated under the past 15 years has changed.
Rich779 profile picture
@Zola G I love oil and CO2 without we step back in 1800s - solar wind is scam by those who make billions building systems that will never get over 15% capacity - they only make money because governments pay subsidies to make a profit as US has for last 28 years
Oil & its 6000 bi products will be here a while- the oil age began in 1870s and has made life so easy for humans as never in history- coal has 60 bi products we use
VOC pays nice divvy, ET is going to continue to increase as is their divvy
A new investment would be in the new idea of CO2 removal plants- which i am researching- the scam begins by telling the world they can build a plant for X, remove CO2 at 30% GP then sell the frozen Dry ice and CO2 gas- wont do any good as CO2 is not a warming gas but profits will be high & Greenies will love it
Laura Lea profile picture
@Rich779 Some folks live in a dream world. Like we will all be going to Mars for our vacation and driving cars that can fly us there next year.
Rich779 profile picture
@Laura Lea fly with solar panels on roof - SOMEONE actually convinced SouthWest to purchase 4 battery powered jets- how stupid
This is only the beginning of the oil and gas run. Buy it and forget it for ten years. Look at a long-term chart of commodities vs. SP500.
Laura Lea profile picture
@jemicarus I plan to buy it again under $100. It may take a month or 2, but it will go there.
I guess I am the type that thinks I lose money if I buy a stocks at $30, then it goes up to $50, then I sell it at $40. To me I lost 10 bux )o:
CVX has a great dividend, as does XOM. I am thinking the dividend would not cover the losses had I bought it last week.
So I will wait.
CVX is a solid company...but they have not found anything with their exploration program in years. CVX will generate predictable and solid cash flows but not much upside other than its Permian acreage. TOO MUCH EXPOSURE IN SOCIALIST REGIMES...I am referring to California and concerned about Tenghiz which depends on pipeline through Russia (CPC) and a Russia export terminal on Black Sea.
"BH is making the wrong call on CVX"

I agree. They should take CVX private at $254.20 per share and use the oil to eliminate poverty and pollution.
TheOldHand profile picture
@McGonicle "The poor will be with you always."
@TheOldHand yes, giving money to the poor just discourages meritocracy, and dysgenics. Giving money to people based on "group", is giving to groups who despise you and want you dead.
Poor is relative term everyone. Normal distributions will always have a left tail regardless of how high the mean gets. @McGonicle @TheOldHand @cupproduct
auto44 profile picture
Chevron has a great management team and the company's share price has outperformed as a result of COVID-19. It has outperformed due to fossil fuel prices rising and that was due to our brilliant president and the demon-crat party clogging up the works with their hate fossil fuels programs.
@auto44 "The US oil industry doesn't appear to be in any rush to come to the rescue of Americans struggling with high gas prices. Oil company CEOs say Wall Street is to blame.

Fifty-nine percent of oil executives said investor pressure to maintain capital discipline is the primary reason publicly traded oil producers are restraining growth, according to a Federal Reserve Bank of Dallas survey released Wednesday." www.cnn.com/...
Laura Lea profile picture
I agree and thought the same when I saw this on the news. The chart looks like it can go below 120. I would have waited but he is a rich man and I am not )o:
I sold most of my CVX stock at $160, glad I did. Right now, CVX, and oil in general, is acting like a tech stock, and this is not good. At some time oil will stabilize and CVX will come down in price, and the dividend will be under attack. I worked for CVX for 15 years, and retired recently, and although I can also say management is good, they are NOT the best. The last two years of my time there, and one of the reasons I retired so early, was management is going WOKE and spending so much of their capital, and time, on transforming the company to a people company and not an energy company ... they are losing focus, and this will bite them in a few years.
Jacob Marley profile picture
@bill stag Interesting comment. What would you consider the best management?
perplexedtex profile picture
Buffett owns CVX for the same reason he owns KO (dividend income).
Having just returned from Omaha I have trouble understanding how you novice investors who call yourselves experienced could second guess Buffett or Munger with their track record. Don’t try to second guess him buy Berkshire then you could be up 785% since inception like I am.
Laura Lea profile picture
@DLSheeler I like the BRK.B, but do not plan to buy it up here. I sold it a few months ago but will catch it again on it's way down, or hopefully catch it at the bottom. It is on my watchlist.
Oil is headed back to 60 so is Chevron. Buffet will sell at the lows just like he did with COP.
bluescorpion0 profile picture
@PbcMaster some more reasoning behind your statement?
@PbcMaster Is that why it's going up ~2% per day?
TheOldHand profile picture
@PbcMaster To $160 you say?
I don’t understand why you would go so far out on the covered call. Sure, you get long term cap gains treatment on the premium — but if the idea is to capture premium decay, don’t you do way better writing sequential short term calls against your position to capture far more decay in total?
Value Investment Club profile picture
Your chart answered why Berkshire likes it: FCF $6B, shareholder’s return $4B. They generate cash, reward shareholders, and have a balanced capex budget.
Shouldn't assume you know more than Buffett Inc.
This guy is woke… Green energy died when famine and oil shortages become real…
@TheOracle12 you are asleep... the invasion of ukraine proved that depending on other countries for oil and gas is a total fail.

green energy provides locally sourced energy.
@osv1 Doesn't handle demand peaks that occur daily & seasonally
@pnmamike but in southwestern states it has the potential to nearly eliminate the need for home and business fossil fuel use during the day.

what happens when it's 110 degrees in tucson az? air conditioners run at full speed during the day; that load can be cut way down with home solar, at minimal cost to big utilities.
stockmarketinvesting profile picture
Chevron is going to become a highly diversified renewable energy play as well. They are just starting to dabble in renewable energy and will continue to do so moving forward.
@stockmarketinvesting renewable energy is dead when republicans get back congress
@TheOracle12 fortunately republitards don't rule the world, so green energy development will continue to move forward, especially in europe, where they got reamed by russian energy blackmail.
@osv1 Europe has just started to learn a grim lesson. Expect riots.
I bought CVX, XOM, EQNR, TTE, SHEL and BP in March 2020 when the world was "coming to an end". I have added all the way up on these. I believe fundamentals are improving and am actually glad oil hasn't run up to $130 or beyond so we can avoid demand destruction. The European countries are going to have no choice but to put a ban and embargo on Russian oil due to the war and ongoing threat from Putin. This void cannot be made up by other producers. Oil demand is growing every year... not shrinking. In past oil downturns, all producers have been supplying full blast. We've never had a situation quite like we have now where a major producer is going to be sanctioned. CVX and XOM are building nice bases for further gains ahead. TTE, SHEL, EQNR and BP are selling for < 8x EPS. Canadian oil stocks are selling for 2-4x FCF.
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