Chevron Corporation


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SKU: CVX Category: Tag:


Chevron Corp delivered strong financial results in Q2, with the highest reported earnings in over a year. Their Q2 results included special items totaling $235 million, including a remediation charge in the Gulf of Mexico and pension settlement costs and still its adjusted earnings were as high as $3.3 billion or $1.71 per share. The management has lowered their debt levels further in the quarter and is making the most of the rise in the oil prices. The company witnessed a sharp rise in upstream earnings from an augmented production coupled with a rise in crude oil prices. Its performance in the chemicals segment resulted in excellent downstream earnings and the company also saw an increase in the refining margins. Its expected output of around over 600,000 barrels a day for the second half of 2021 at an average brent crude price of $65 indicates that the company is on track for a solid second half. We give the company a ‘Buy’ 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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