This Oil Stock Sent Investors a Record $7.2 Billion in Cash Last Quarter, With More to Come
(NYSE: CVX) recently reported its preliminary second-quarter numbers. Despite lower oil and gas prices in the period, the oil giant still produced strong earnings and cash flow. That enabled it to send lots of money back to shareholders through dividends and share repurchases.
The oil company expects to continue producing strong cash flow for decades to come. That sets investors up to continue collecting more cash from the oil stock.
Chevron recently announced some senior leadership changes, including the retirement of its CFO. That led the company to report its preliminary second-quarter results to eliminate any potential financial concerns stemming from the CFO transition. Those numbers were strong despite the continued weakness of oil and gas prices this year.
Source Fool.com
Chevron Corp. Stock
The stock is an absolute favorite of our community with 26 Buy predictions and no Sell predictions.
As a result the target price of 179 € shows a positive potential of 23.7% compared to the current price of 144.7 € for Chevron Corp..
