Chevron Corp Stock Price, News & Analysis

Chevron Lubricants has launched Delo TorqForce Syn FD-1, a full synthetic lubricant aimed at enhancing the performance of large mining haul trucks and support equipment. This product is engineered to outperform conventional lubricants, offering benefits such as an expanded temperature range for all-weather performance, advanced protection against wear and oxidation, and extended service intervals, allowing oil changes to extend from 4,000 to 6,000 hours. Chevron's rigorous testing ensures reliable performance, maximizing productivity in harsh conditions.

Cheniere Energy Partners reported a second quarter 2022 net income of $342 million, down from $395 million in 2021. Adjusted EBITDA rose to $1.0 billion, a 42% increase. Revenue soared 121% to $4.18 billion. The company declared a cash distribution of $1.060 per common unit for unitholders, reaffirming a full year distribution guidance of $4.00 - $4.25. A long-term LNG agreement with Chevron was also established, with deliveries starting in 2026. However, non-cash losses in commodity derivatives affected net income significantly.

Cheniere Energy reported robust financial results for Q2 2022, achieving Consolidated Adjusted EBITDA of approximately $2.5 billion and $5.7 billion for the three and six months ended June 30, respectively. Net income was $0.7 billion for Q2, a significant recovery from a loss in Q2 2021. Full-year guidance for Consolidated Adjusted EBITDA is raised to $9.8 - $10.3 billion. The company secured long-term contracts totaling 140 million tonnes of LNG through 2050 and made a positive final investment decision on the Corpus Christi Stage 3 Project.

Chevron (CVX) and Brightmark announced the successful first delivery of renewable natural gas (RNG) from the Athena Project in Minnehaha County, South Dakota. The partnership aims to produce and market RNG from dairy biomethane, contributing to lower carbon fuel solutions. The captured methane from manure will be converted into RNG for transportation and electricity. This milestone highlights the collaboration's potential to support sustainable fuel initiatives and reduce lifecycle carbon emissions.

Chevron Corporation (NYSE: CVX) announced the appointment of Alana K. Knowles as Vice President and Controller, effective March 1, 2023. She succeeds David A. Inchausti, who will retire after 35 years with the company on February 28, 2023. Knowles has extensive experience within Chevron, having held various leadership roles since joining the company in 1988, including Vice President – Finance, Downstream & Chemicals. Chevron's CEO Michael Wirth praised her leadership skills and experience in the industry.

Chevron Corporation (NYSE: CVX) reported impressive second-quarter earnings of $11.6 billion ($5.95 per share) for 2022, up from $3.1 billion in 2021. Adjusted earnings stood at $11.4 billion, reflecting substantial growth across business segments, particularly in upstream operations with earnings of $8.6 billion. Cash flow from operations reached $13.8 billion, while free cash flow was $10.6 billion. Chevron enhanced its balance sheet, reducing its debt ratio to below 15% and raising its share repurchase target to $15 billion. The company completed its acquisition of Renewable Energy Group, reinforcing its commitment to both traditional and renewable energy investments.

The Board of Directors of Chevron Corporation declared a quarterly dividend of $1.42 per share, payable on September 12, 2022. Shareholders will receive this dividend if their names appear on the transfer records by the close of business on August 19, 2022. Chevron, a leading integrated energy company, focuses on affordable and reliable energy, aiming to reduce carbon intensity while growing lower carbon businesses alongside traditional operations.

Chevron Corporation (NYSE: CVX) is set to hold its quarterly earnings conference call on Friday, July 29, 2022, at 11:00 a.m. ET (8:00 a.m. PT). This call will feature key executives, including Jay Johnson, Pierre Breber, and Roderick Green, discussing the company's financial performance and strategic initiatives. Investors can listen in via dial-in or through a live webcast on the Chevron website. A replay will also be available in the Investors section afterward.

Chevron Corporation (NYSE: CVX) announced its North American upstream assets received Project Canary's highest ratings for operational and environmental performance. The independent assessment highlighted that 82 wells achieved 'Platinum' status while 3 wells earned 'Gold' status. This certification positions Chevron favorably in the Responsibly Sourced Natural Gas (RSG) market, allowing the company to market certified gas starting in the second half of 2022. Chevron aims to significantly lower carbon emissions, having already reduced methane intensity by 85% compared to the industry average.