Chevron Corp Stock Price, News & Analysis

Chevron Products Company announced the launch of its new Chevron xpress lube program aimed at U.S. fast lube owners. The inaugural site is operational in Fountain Hills, AZ, with plans for further expansion. This initiative allows independent operators to leverage the Chevron brand without traditional franchise fees. Chevron aims to attract consumers with its established reputation for quality. The xpress lube locations will offer Chevron's premium products and require owners to maintain high customer satisfaction scores.

Michael Wirth, chairman and CEO of Chevron (NYSE: CVX), will participate in the Bernstein Strategic Decisions Conference on June 2, 2021, at 3:30 PM EDT. He will discuss Chevron's corporate strategy aimed at achieving higher returns while reducing carbon emissions. Chevron is recognized as a leading integrated energy company, focusing on producing oil and gas, manufacturing fuels and lubricants, and investing in low-carbon technologies. The conversation will also include a Q&A session. For more details, visit www.chevron.com/investors.

Chevron Corporation (NYSE: CVX) outlined its business priorities and outlook during its virtual annual stockholders meeting. The company emphasized a strong portfolio performance amid challenging conditions, focusing on balance between short-term cash flow and long-term value. CEO Michael Wirth highlighted a commitment to lower carbon operations, increased use of renewables, and advancements in low-carbon technologies. Chevron aims to protect its dividend for the 34th consecutive year, enhance capital efficiency, and maintain a strong balance sheet while continuing share repurchases.

Chevron Corporation (NYSE: CVX) has successfully acquired Noble Midstream Partners LP (NASDAQ: NBLX), transforming Noble Midstream into a wholly-owned subsidiary. Following this acquisition, Noble Midstream’s common units are no longer listed on the Nasdaq. Chevron aims to enhance governance and strengthen its operations in the DJ and Permian basins. This integration is expected to streamline operations and boost strategic positioning in these key markets.

Chevron has committed an additional $20 million to the Adopt-a-Port initiative, raising its total investment to $28 million. This program, in partnership with Clean Energy Fuels, aims to provide truck operators at the ports of Los Angeles and Long Beach with cleaner, carbon-negative renewable natural gas (RNG). By converting to RNG-powered trucks, operators can significantly reduce greenhouse gas emissions and contribute to local air quality improvements.

TortoiseEcofin announced that Noble Midstream Partners LP (NASDAQ:NBLX) will be removed from the Tortoise MLP Index and Tortoise North American Pipeline Index due to its merger with Chevron Corp (NYSE:CVX). This removal will take effect on May 11, 2021, at market open, as NBLX's current index weight is below the threshold for a special rebalancing. The indices consist of companies involved in energy transportation and processing, and the removal is part of standard procedures following corporate actions. For further details, visit here.

Chevron Corporation (NYSE: CVX) reported earnings of $1.4 billion ($0.72 per share) for Q1 2021, down from $3.6 billion ($1.93 per share) in Q1 2020. Adjusted earnings were $1.7 billion, compared to $2.5 billion a year earlier. Sales increased to $31 billion from $30 billion. Upstream earnings fell to $2.35 billion while downstream operations reported a loss of $130 million. The company maintained capital discipline, reducing expenditures by 43%. Free cash flow was $3.4 billion, with a dividend increase of 4% approved. Notably, Chevron is advancing carbon-negative technologies and aims for a lower-carbon future.

The Board of Directors of Chevron Corporation (CVX) declared a quarterly dividend of $1.34 per share, reflecting a 4% increase, effective June 10, 2021. This marks the 34th consecutive year of annual dividend increases. Chevron emphasizes its commitment to enhancing energy sustainability while balancing productivity, indicating a robust strategy for a lower-carbon future and investments in renewables.

Cushing Asset Management and Swank Capital announced changes to The Cushing 30 MLP Index due to a merger involving Noble Midstream Partners (NBLX) and Chevron (CVX). NBLX will cease public trading following majority consents on a merger agreement, effective May 3, 2021. As a result, Altus Midstream Company (ALTM) will replace NBLX in the Index after market close on April 30, 2021. The remaining constituents of the Index will remain unchanged.