Chevron

Chevron Corporation (NYSE:CVX) Q2 2024 Earnings Conference Call August 2, 2024 11:00 AM ET Company Participants Jake Spiering – General Manager, Investor Relations Michael K. Wirth – Chairman of the Board and Chief Executive Officer Eimear P. Bonner – Vice President and Chief Financial Officer Conference Call Participants Neil Mehta – Goldman Sachs Alastair Syme – Citi Paul Cheng – Scotiabank Biraj Borkhataria – RBC Doug Leggate – Wolfe Research Josh Silverstein – UBS Roger Read – Wells Fargo Devin McDermott – Morgan Stanley Nitin Kumar – Mizuho Jason Gabelman – TD Cowen Bob Brackett – Bernstein Neal Dingmann – Truist Geoff Jay – Daniel Energy Partners Betty Jiang – Barclays John Royall – JPMorgan Operator Good morning. My name is Justin, and I will be your conference facilitator today. Welcome to Chevron’s Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After […]

Chevron (NYSE:CVX) expects to see a $300 million to $400 million hit on its earnings due to an impact on its Q2 production, Reuters reported Monday. The oil major expects to impact 65,000 barrels of oil equivalent per day in Q2 due to upstream turnarounds and downtime at Tengizchevroil in Kazakhstan as well as maintenance at the El Segundo and Richmond refineries in California, the report said.

Chevron: Permian Production in H1 Expected to Be Down Less Than 2% From 4Q23

Chevron Corp: Sees 2Q24 Buybacks $2.5 Bln – $3 Bln

Chevron (CVX) idled production on a unit of its Gorgon liquified natural gas plant in western Australia, only days after reopening it last week following an extended shutdown for repairs, Bloomberg reported Monday, citing people familiar with the situation. The report did not specify the reason for shut down at the export facility. The company had just resumed normal operations at Gorgon on Friday after needing most of May to complete mechanical repairs on a turbine, according to prior reports. Chevron is the operator and owns 47.3% of the Gorgon project, with ExxonMobil (XOM) and Shell (SHEL) each holding 25% stakes and Japanese interests, including Osaka Gas and Tokyo Gas owning the remaining 2.7%.

Chevron Corporation (NYSE:CVX) Q1 2024 Earnings Conference Call April 26, 2024 11:00 AM ET Corporate Participants Jake Spiering – General Manager, IR Mike Wirth – Chairman and Chief Executive Officer Eimear Bonner – Vice President and Chief Financial Officer Conference Call Participants Sam Margolin – Wolfe Research Neil Mehta – Goldman Sachs Paul Cheng – Scotiabank Betty Jiang – Barclays Josh Silverstein – UBS Biraj Borkhataria – RBC Nitin Kumar – Mizuho Jason Gabelman – TD Cowen Bob Brackett – Bernstein Research Roger Read – Wells Fargo Lloyd Byrne – Jefferies Devin McDermott – Morgan Stanley Ryan Todd – Piper Sandler John Royall – JPMorgan Alastair Syme – Citi Neal Dingmann – Truist Operator Good morning. My name is Katie, and I will be your conference facilitator today. Welcome to Chevron’s First Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded. I will

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target price of $175, raised $15, reflects a 5.7x multiple of enterprise value to projected 2025 EBITDA, slightly below CVX’s historical forward average. We think a modest discount is reasonable in light of CVX’s higher exposure to natural gas than its chief rival Exxon Mobil (XOM 119 ****), where we see continued price weakness in the near term. We lift our 2024 EPS estimate by $0.20 to $12.75 and 2025’s by $0.94 to $14.14. Q1 EPS of $2.93 vs. $3.55 beat the consensus view by $0.02. Permian production of 859,000 boe/d (26% of total Q1 production) was better than CVX had expected, helped by a lower decline rate, and the company now sees Permian production exiting 2024 at about 900,000 boe/d. We note that the

The following is a summary of the Chevron Corporation (CVX) Q1 2024 Earnings Call Transcript: Financial Performance: Chevron reported Q1 earnings of $5.5 billion or $2.97 per share, with adjusted earnings being $5.4 billion or $2.93 per share. Cash flow from operations was impacted by upstream ARO settlement payments and expansion of the retail marketing network. Although affected by lower realization and lifting, the company achieved financial priorities including an 8% increase in dividends shares. Maintaining stability, Chevron delivered $5 billion+ adjusted earnings and over 12% adjusted ROCE for nine consecutive quarters. In Q1 2024, Chevron returned $6 billion to shareholders, marking the eighth consecutive quarter of returns over $5 billion. Business Progress: Chevron recorded its highest Q1 production ever, a rise of over 12% from the previous year due to the PDC Energy acquisition and growth in the Permian Basin. A major step forward came with final investment decisions

Raymond James analyst Justin Jenkins maintains Chevron (NYSE:CVX) with a Outperform and raises the price target from $170 to $174.

Barclays analyst Betty Jiang initiates coverage on Chevron (NYSE:CVX) with a Overweight rating and announces Price Target of $203.

Wells Fargo analyst Roger Read maintains Chevron (NYSE:CVX) with a Overweight and raises the price target from $185 to $198.

Mizuho analyst Nitin Kumar maintains Chevron (NYSE:CVX) with a Buy and raises the price target from $195 to $200.