Here's How Chevron Will Stay a Top Oil Stock in 2024 and Beyond
(NYSE: CVX) is one of the largest integrated energy companies on the planet. But even an integrated business model can't shield the company from the basic dynamics of the oil industry -- one of the biggest being that oil and natural gas are depleting assets. Here's what Chevron is doing about it.
Just before the pandemic hit in 2020, Chevron found itself in a high-stakes bidding match with Occidental Petroleum to acquire Anadarko Petroleum. In the end, with the help of Warren Buffett's Berkshire Hathaway, Oxy won the day.
Chevron decided it wasn't worth the risk of overpaying, which worked out well for it given the way oil prices plunged during the pandemic. Because of the debt Occidental had taken on, it was forced to cut its dividend. Meanwhile, Chevron kept increasing its payouts, thanks largely to its ability to lean on its balance sheet as it muddled through the industry's weak patch.
Source Fool.com
Chevron Corp. Aktie
Die Aktie ist derzeit ein absoluter Favorit unserer Community mit 26 Buy-Einschätzungen und keiner einzigen Sell-Einschätzung.
Für Chevron Corp. sieht die Community ein Kursziel von 179 €, was eine erhebliche Steigerung um über 20% gegenüber dem aktuellen Kurs von 145.42 € bedeutet.
