Chevron Corp Stock Price, News & Analysis

Chevron Technology Ventures has launched its $300 million Future Energy Fund II, aimed at fostering innovations in industrial decarbonization, mobility, energy decentralization, and the circular carbon economy. Building on the success of its first fund, which invested in over 10 companies, CTV seeks to enhance sustainable energy solutions. Vice President Barbara Burger emphasized the fund's role in addressing global energy challenges. This marks CTV's eighth venture fund since its inception, aligning with Chevron's commitment to cleaner energy technologies.

Chevron Corporation has proposed a non-binding acquisition of Noble Midstream Partners LP's publicly held common units, offering $12.47 per unit based on recent closing prices. This merger aims to streamline governance and align interests, particularly as NBLX primarily serves Chevron. Approval from NBLX's Board of Directors is necessary, and there is no guarantee the deal will close.

NBLX operates midstream assets in Colorado and Texas, having been integrated into Chevron following its acquisition of Noble Energy in 2020.

Chevron Corporation (NYSE: CVX) reported a fourth-quarter loss of $665 million ($(0.33) per share), a significant improvement from a $6.6 billion loss in Q4 2019. The full-year 2020 loss totaled $5.5 billion ($(2.96) per share), influenced by acquisition costs from Noble Energy and foreign currency impacts of $645 million. Despite lower revenues of $25 billion in Q4 2020 vs. $35 billion a year prior, Chevron maintained a strong balance sheet, completed the Noble Energy acquisition, and increased its dividend for the 33rd consecutive year.

The Board of Directors of Chevron Corporation declared a quarterly dividend of $1.29 per share, set for payment on March 10, 2021. This dividend will benefit all common stockholders recorded on the transfer records as of February 17, 2021. This announcement reflects Chevron's commitment to returning value to its shareholders.

Chevron Corporation (NYSE: CVX) has made a Series C investment in Blue Planet Systems Corporation, a startup that specializes in carbonate aggregates and carbon capture technology. This investment highlights Chevron's commitment to advancing carbon capture and utilization technologies as part of its lower-carbon solutions strategy. Chevron and Blue Planet plan to explore collaboration opportunities for pilot projects and commercial developments that leverage Blue Planet's innovative technology, which captures CO₂ from flue gas without requiring purification.

Chevron Corporation (NYSE: CVX) is set to hold its quarterly earnings conference call on January 29, 2021, at 11:00 a.m. ET (8:00 a.m. PT). Key speakers include Mike Wirth, CEO, and Pierre Breber, CFO. Participants can dial in using the provided numbers or access the live webcast at www.chevron.com. This event is significant as it will provide insights into Chevron’s financial performance and future outlook.

Chemron Corporation (NYSE:CVX) and Chevron U.S.A. Inc. announced the early participation results of their exchange offers for Noble Energy's Old Notes. As of December 16, 2020, significant principal amounts of various series of Old Notes have been validly tendered. The offers include a total consideration of new CUSA Notes, with an early participation premium of $30 per $1,000 principal amount. The expiration date for participation is extended to January 4, 2021. The offerings seek to amend relevant indentures and provide holders with new, unsecured, unsubordinated debt guaranteed by Chevron.

Chevron Corporation announced a $14 billion organic capital and exploratory spending program for 2021, reducing long-term guidance to $14 to $16 billion annually through 2025. The company aims to enhance long-term value and returns, dedicating over $300 million in 2021 to advance energy transition. The revised guidance is notably lower than the previous $19 to $22 billion. Significant allocations include $5 billion for U.S. upstream and $6.5 billion for international upstream projects. Chevron emphasizes its commitment to maintaining dividends amidst market challenges.

Chevron Corporation (CVX) and Chevron U.S.A. Inc. have initiated exchange offers for ten series of notes from Noble Energy, Inc. The exchange involves validly tendered Old Notes for new CUSA Notes guaranteed by Chevron. A registration statement was filed with the SEC on December 3, 2020, and the exchange offers are set to expire on January 4, 2021. Early participants may receive an extra $30 per $1,000 principal amount. The exchange is aimed at altering restrictive covenants in existing Noble Indentures. No accrued interest will be paid on Old Notes during this exchange.