Chevron Corp Stock Price, News & Analysis

The Board of Directors of Chevron Corporation (NYSE: CVX) has declared a quarterly dividend of $1.42 per share, scheduled for payment on June 10, 2022. Shareholders on record as of the close of business on May 19, 2022, will receive this dividend. Chevron continues to focus on producing reliable and cleaner energy while also developing technologies to enhance operational efficiency. The company aims to lower carbon intensity in its operations and grow its lower carbon businesses alongside traditional energy sources.

Bunge (NYSE: BG) and Chevron (NYSE: CVX) have announced a strategic partnership with CoverCress Inc. to develop a new renewable oilseed and animal feed crop. This collaboration aims to enhance sustainability in agriculture and meet the growing demand for renewable fuels. The CoverCress™ technology, derived from field pennycress, will provide farmers with an additional revenue stream while benefiting soil health. Both companies have invested in CCI, which will supply grain for processing, establishing a dedicated farm-to-fuel supply chain.

Chevron Corporation (NYSE: CVX) will host its quarterly earnings conference call on April 29, 2022, at 11:00 a.m. ET. Key speakers include CEO Mike Wirth and CFO Pierre Breber. Investors can listen in via the dial-in number 800-357-3979 or through a live webcast on www.chevron.com. Chevron emphasizes its commitment to sustainable energy solutions alongside traditional operations, including crude oil and natural gas production.

Chevron (NYSE: CVX) has joined the Global Centre for Maritime Decarbonisation (GCMD) to support the development of scalable lower carbon technologies, including ammonia as marine fuel. This partnership aims to advance decarbonization in the hard-to-abate shipping sector, facilitating pilot projects and aligning with the International Maritime Organization's climate goals. Chevron's New Energies unit, launched in 2021, focuses on lower carbon solutions like hydrogen and carbon capture. This collaboration underscores Chevron's commitment to reducing carbon intensity across the maritime value chain.

Chevron's New Energies division has partnered with Restore the Earth Foundation for a reforestation project in St. Charles Parish, Louisiana. This initiative covers up to 8,800 acres and aims to plant approximately 1.7 million native bald cypress seedlings. The project is expected to facilitate carbon sequestration and contribute to local ecosystem restoration. Chevron's investment reflects its commitment to lower carbon solutions, supporting both corporate sustainability goals and customer demands for reduced carbon footprints.

Chevron Products Company has launched Delo 400 XSP SAE 15W-40 with ISOSYN Advanced Technology, designed for heavy-duty diesel engines. This full synthetic engine oil aims to enhance engine protection and reduce oil consumption, catering to heavy-duty diesel truck owners in extreme conditions. It boasts excellent soot dispersancy and wear control, promoting longer service life and minimizing downtime. Backward compatible, it supports both diesel and gasoline engines. The product will be available at Walmart and Walmart.com.

Chevron Corporation (NYSE: CVX) has raised its share buyback guidance to $5 - $10 billion per year. The company also increased its return on capital employed target to 12% by 2026 at $60 Brent and expects operating cash flow per share to grow 10% per year through 2026. Chevron reaffirmed its commitment to reducing carbon intensity and expanding new energy businesses, aiming for significant returns while balancing traditional and renewable energy investments.

Chevron has announced an agreement to acquire Renewable Energy Group, Inc. (REGI) for $3.15 billion in cash, equating to $61.50 per share. This strategic acquisition aims to enhance Chevron's renewable fuels production capacity, targeting 100,000 barrels per day by 2030. The deal is expected to be accretive to earnings and free cash flow in the first year after closing, with additional resources to accelerate growth. REG's CEO, Cynthia Warner, is anticipated to join Chevron's Board of Directors following the transaction, which is expected to close in H2 2022, pending shareholder and regulatory approvals.

Chevron Corporation (NYSE: CVX) has announced a new investment in Carbon Clean, a leader in carbon capture technology, aimed at reducing CO₂ capture costs. The partnership will explore a carbon capture pilot using Carbon Clean's CycloneCC technology in California's San Joaquin Valley. Chevron aims to capture 25 million tonnes of CO₂ annually by the decade's end, focusing on developing regional hubs to enhance carbon capture capabilities. This investment supports Chevron's commitment to lowering carbon emissions and advancing sustainable energy solutions.