Chevron Corporation

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SKU: CVX-1 Category: Tag:

Description

The rally in crude oil prices on account of the current geopolitical situation in Russia is one of the major factors that has made Chevron surge past the target price from our last report. In 2021, the company had one of its most successful years, with a return on capital employed approaching 10%, the highest since 2014. The Noble Energy acquisition and Chevron’s activities in the Permian basin have heavily benefitted the company. The crude oil outlook remains positive for 2022 as per the U.S. EIA which means Chevron can continue its momentum in the year. The management made additions primarily in the Permian, Gulf of Mexico, and Australia, partially offset by lower reserves in Kazakhstan, primarily due to higher prices and their negative impact on their share of reserves. We are optimistic about Chevron and give it an ‘Outperform’ rating with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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