Prediction: Given Its History, Chevron Will Buy This High-Yield Dividend Stock Next
(NYSE: CVX) quickly responded to ExxonMobil's megamerger with Pioneer Natural Resources with a massive deal of its own. It agreed to acquire Hess (NYSE: HES) for around $60 billion. These deals will likely lead to more consolidation in the sector.
I expect Chevron to continue making deals. It also bought PDC Energy for around $7.6 billion earlier this year. Given its history, its next acquisition will likely be Hess Midstream (NYSE: HESM). Here's why that deal would fit Chevron's recent pattern.
Chevron has a long history of making deals. Before Hess, its most notable deal was acquiring Texaco in 2001 for $38.7 billion. It has also made several smaller deals, including buying Noble Energy for $13 billion in 2020.
Source Fool.com
Chevron Corp. Stock
€133.18
1.570%
The stock is an absolute favorite of our community with 26 Buy predictions and no Sell predictions.
As a result the target price of 178 € shows a positive potential of 33.65% compared to the current price of 133.18 € for Chevron Corp..
