After Nearly $70 Billion in Acquisitions, What's Next for Chevron?
(NYSE: CVX) has gone on a shopping spree this year. In May, the oil giant sealed a deal to buy PDC Energy for $7.6 billion (including the assumption of debt). That transaction closed in August. It followed that up with an even bigger splash in October when it agreed to buy Hess (NYSE: HES) for $60 billion, including debt. Chevron expects that acquisition to close early next year.
With two sizable deals already in the fold, it begs the question of what's next for Chevron. Here's a look at what investors should expect from the oil stock in the coming months.
Chevron's acquisitions follow big splashes by rival ExxonMobil, which already agreed to buy Denbury Resources and Pioneer Natural Resources for nearly $70 billion this year. Exxon is still hungry for another deal. The company's CFO, Kathy Mikells, recently told the Financial Times that it's "always looking." However, while it's "very inquisitive," Exxon is also "very picky," according to its CFO.
Source Fool.com
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