Chevron Focuses on Growth With a Leaner Spending Plan [Yahoo! Finance]
Chevron Corporation (CVX)
Last chevron corporation earnings: 5/1 06:45 am
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Source: Yahoo! Finance
Recently, the company announced a $2 billion reduction in its 2025 capital spending, including a notable decrease in investments in the Permian Basin, its most productive asset. Chevron plans to allocate $4.5 billion to $5 billion to the Permian, down from the 2024 levels, shifting its focus from aggressive production growth to maximizing free cash flow. This strategic pivot is reflective of the integrated energy major's broader aim to prioritize profitability and shareholder returns amid flat oil price forecasts. In addition to the Permian, Chevron's $14.5 billion to $15.5 billion capital budget will fund high-return projects in the Gulf of Mexico, where deepwater production is expected to ramp up to 300,000 barrels per day by 2026. Internationally, $1 billion will go toward projects like the Gorgon LNG backfill in Australia. Meanwhile, Chevron remains committed to cutting structural costs by $2-3 billion by 2026 and plans significant divestitures of higher-cost assets. CVX Prior
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News
- Energy Transfer Signs Agreement to Supply Chevron 2.0 Million Tonnes of LNG Per Annum From Its Lake Charles LNG Export Facility [Yahoo! Finance]Yahoo! Finance
- Chevron Co. (NYSE: CVX) had its price target lowered by analysts at Piper Sandler from $184.00 to $173.00. They now have an "overweight" rating on the stock.MarketBeat
- Chevron Corporation's (NYSE:CVX) market cap decline of US$22b may not have as much of an impact on institutional owners after a year of 0.02% returns [Yahoo! Finance]Yahoo! Finance
- Cramer's Take on Chevron (CVX): Will Trump's Victory Shift the Oil Giant's Fate? [Yahoo! Finance]Yahoo! Finance
- Woodside Simplifies Portfolio and Unlocks Long-Term Value [Yahoo! Finance]Yahoo! Finance
CVX
Earnings
- 11/1/24 - Beat
CVX
Sec Filings
- 12/19/24 - Form 4
- 12/19/24 - Form 4
- 12/19/24 - Form 4
- CVX's page on the SEC website