Chevron US1667641005 (Seite 16)

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Chevron Corporation (CVX) Ex-Dividend Date Scheduled for February 13, 2013

Chevron Corporation ( CVX ) will begin trading ex-dividend on February 13, 2013. A cash dividend payment of $0.9 per share is scheduled to be paid on March 11, 2013. Shareholders who purchased CVX stock prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 4th quarter that CVX has paid the same dividend.

The previous trading day's last sale of CVX was $115.64, representing a -2.44% decrease from the 52 week high of $118.53 and a 20.8% increase over the 52 week low of $95.73.

CVX is a part of the Energy sector, which includes companies such as Exxon Mobil Corporation ( XOM ) and BP p.l.c. ( BP ). CVX's current earnings per share, an indicator of a company's profitability, is $13.32. Zacks Investment Research reports CVX's forecasted earnings growth in 2013 as -4.1%, compared to an industry average of -1.6%.

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Exxon Mobil Vs. Chevron: The Ultimate Comparison

Exxon Mobil (XOM) and Chevron (CVX) are two oil giants that are almost perfectly managed. The big question is which one constitutes the most profitable investment at the moment. In this article I will compare the two companies in order to reach a verdict.

Growth

Exxon Mobil reported earnings $45 B in 2012, which corresponds to earnings per share $9.70. This means that the company achieved 4.4 times the EPS of 2001 and 7% higher EPS than those at the peak of the previous economic cycle (2008). During the 11-year period, the company approximately tripled its book value from $11.1 to $34.7/share.

Chevron reported earnings $26 B in 2012, which corresponds to EPS 13.32. Therefore, the company achieved 7.1 times the EPS of 2001 and 11% higher EPS than those of 2008. During the 11-year period, the company more than quadrupled its book value from $16.2 to $69.4/share (data here).

Current Valuation

As of the close of February 8th, Exxon has a higher price to book value ratio than Chevron (2.4 vs. 1.7). On the other hand, Exxon and Chevron have similar P/E ratios (9.1 and 8.7, respectively) so this cannot be used as a distinguishing factor between the two companies. Nevertheless, it is remarkable that these are quite low P/E ratios and are mainly due to the market perception that the oil price cannot go much higher from its current levels. However, Barclays projects a surging oil price in the next months (source: Barclays) while there is always the "wild card" of a military intervention in Iran, which would send the oil price to the… sky. Therefore, the current valuations of Exxon and Chevron may prove quite profitable investments.

Production and oil reserves

About 90% of the earnings of Chevron, Exxon and most oil companies comes from the upstream sector. Therefore, the depletion of oil reserves is one of the most significant problems of these companies and hence it is critical for them to replenish their reserves. In 2012, Chevron reduced its oil equivalent production by 2% while Exxon reduced its oil equivalent production by a disappointing 5.5%. Moreover, Chevron sufficiently replenished its reserves, as it discovered new reserves that were 112% its annual production. Exxon Mobil did not provide such data in its annual report of 2012 but it replenished its reserves by 119% in 2011.

At the end of 2011, Exxon Mobil had proven reserves of 24.9 B barrels of equivalent oil while Chevron had 28.7 B barrels of equivalent oil. Based on these figures and their last year's consumption of reserves, if the two companies were not to discover any new reserves at all, Exxon Mobile would deplete its reserves in 15 years whereas Chevron would deplete them in 30 years.

Margin

In 2012, Exxon Mobil earned a net income $27.3/barrel of oil equivalent while Chevron earned a net income $23.7/barrel of oil equivalent.

Debt

In the end of Q3-2012, the net debt of Exxon stood at $118 B, which is equivalent to 3 years' earnings, while the net debt of Chevron stood at $50 B, which corresponds to 2 years' earnings. This data reveals that both companies bear an exceptionally low amount of debt compared to their earnings, thus confirming their reputation as extremely powerful cash-flow generators.

Distribution to shareholders

In reference to the distribution of earnings to their shareholders, the two companies follow quite different policies. Exxon distributes 2/3 of its earnings, while Chevron distributes about half of its earnings. In addition, Exxon prefers executing share repurchases to paying dividends, with a ratio 2:1, whereas Chevron prefers paying dividends to performing share repurchases, with a ratio 1.4:1.

The total return to shareholders in 2012 was about 8% for Exxon and 5.5% for Chevron. This explains the somewhat higher growth rate and lower debt level of Chevron. However, in my opinion, as the debt of both companies is pronouncedly low, the distribution policy is a very important advantage of Exxon vs. Chevron. Exxon manages to withdraw about 5% of its shares every year, which means that it could withdraw all of its shares in 20 years. Of course this will become difficult, as the share price will greatly increase thanks to the diminishing number of shares, but this is the best an investor should hope for.

Conclusion

Chevron has demonstrated a somewhat better performance in terms of growth and has double lifetime of proven reserves compared to Exxon. In addition, it follows a more conservative strategy than Exxon, distributing less cash to its shareholders and keeping its debt at lower levels than Exxon. However, as the differences in all the above parameters are not very pronounced (with the exception of oil reserves), I would prefer Exxon thanks to its aggressive share repurchase program. Nevertheless, the final choice depends on the preferences of the individual investor and whether one prefers prompt shareholder distributions (Exxon) or future capital gains (Chevron).

Quelle:Seeking Alpha

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Strong Performance From Downstream Operations Help Drive Earnings for Chevron and Exxon Mobil / Research Driven Investing Provides Stocks Research on Chevron and Exxon Mobil Corporation


NEW YORK, NY -- (Marketwire) -- 02/05/13 -- The Oil & Gas Refining & Marketing Industry experienced an impressive revival in 2012 as access to large supplies of North American crude have helped improved refiners profit margins. Research Driven Investing examines investing opportunities in the Integrated - Oil & Gas Industry and provides equity research on Chevron Corporation (NYSE: CVX) and Exxon Mobil Corporation (NYSE: XOM).

Access to the full company reports can be found at:
www.RDInvesting.com/CVX
www.RDInvesting.com/XOM

The emergence of hydraulic fracturing has unlocked large reserves of oil that were previously inaccessible. Access to these reserves has made North American crude a viable option for refiners. As of last Friday, U.S. West Texas Intermediate at Cushing, Oklahoma was priced at roughly $96 a barrel, nearly $20 less a barrel than the international benchmark Brent crude.

The Energy Information Administration (EIA) earlier this month reported that oil production in the U.S. surpassed the 7 million barrels per day mark, which is the highest level in nearly 20 years. The EIA forecasts U.S. oil production will increase an additional 14 percent in 2013.

Research Driven Investing releases regular market updates on the Integrated - Oil & Gas Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.RDInvesting.com and get exclusive access to our numerous stock reports and industry newsletters.

Chevron reported earnings of $7.2 billion for the fourth quarter 2012, compared with $5.1 billion in the fourth quarter of 2011. The company's downstream operations provided a profit of $331 million in the fourth quarter, compared to a loss of $204 million a year prior. Exxon Mobil reported a profit of $9.95 billion in the fourth quarter of 2012, an increase of 6 percent when compared to the fourth quarter of 2011. Earnings were driven by stronger refining-driven margins increased earnings by $1.2 billion.

"One of the arguments for having an integrated model is that it provides a natural hedge," said Pavel Molchanov, an analyst with Raymond James.


Quelle:Marketwire

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Chevron Declares $0.90 Dividend

Chevron (NYSE: CVX ) announced it will pay a quarterly dividend of $0.90 per share. The company will disburse the payout on March 11 to shareholders of record as of the end of February 15.

By doing so, Chevron is keeping the dividend steady. It has now paid the same amount in four straight quarters. Prior to that, it disbursed $0.81 per share.

The company is a longtime and habitual dividend payer. It has managed to increase its payout slowly, but steadily, since late 2004. At that time, it paid out $0.40 per share to its stockholders.

Quelle: Motley Fool


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Chevron Corporation: Deeply Undervalued With QE Catalyst

http://seekingalpha.com/article/1134971-chevron-corporation-….


Charttechnik:

Unser Pivot-Punkt liegt bei 113.4.
Unsere Meinung: solange die Unterstützung bei 113.4 hält, ist die Aufwärtstendenz intakt.
Alternatives Szenario: unter 113.4 lauten die Kursziele 110.9 und 109.4
Analyse: der RSI liegt über 70. Das kann bedeuten, dass sich die Aktie entweder in einem anhaltenden Aufwärtstrend befindet oder dass sie überkauft ist und deshalb korrigieren wird (in diesem Fall auf bearishe Divergenzen achten). Der MACD liegt über der Signallinie und ist positiv. Die Konfiguration ist positiv. Es wird darauf hingewiesen, dass die Volumina seit einigen Tagen ansteigen.

Quelle:CC

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The Best Big Oil Stock: Exxon Mobil Corporation (XOM) or Chevron Corporation (CVX)

When it comes to dividend stocks, reliability is one of the key factors. And few companies are more reliable than the large, integrated oil companies that dominate the energy industry. With annual revenues in the hundreds of billions of dollars and a truly global footprint these companies should continue to generate ample profits for years to come.

Out of the largest four integrated oil companies it's actually the smallest, Chevron Corporation (NYSE:CVX), that offers the most compelling dividend. With TTM sales of $241 billion, Chevron is just half the size of behemoth Exxon Mobil Corporation (NYSE:XOM) and a distant fourth to the European Royal Dutch Shell (NYSE:RDS.A) and British Petroleum (NYSE:BP).

Yield Isn't Everything

When comparing dividends the yield is only half of the equation; dividend growth is equally important. Here are the current dividend yields of these four companies, based on the most recent quarterly payment:



Company

Dividend Yield
XOM 2.52%
CVX 3.12%
RDS.A 4.18%
BP (NYSE:BP) 4.88%


Just looking at the dividend yield it would appear that BP blows the competition out of the water, with Shell a close second and the two American companies bringing up the rear. But the sobering fact is that both BP and Shell reduced, eliminated, or held constant their dividend within the last five years, while Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX) steadily increased it each and every year.


Every year, even through the financial crisis, both Exxon and Chevron increased their respective dividends. Exxon grew the dividend at an annualized rate of 7.06%, slightly faster than the 6.77% rate for Chevron. Meanwhile, Shell grew its dividend at an anemic 1.46% annually including three years where the dividend was held constant. The picture is even worse for BP. For three quarters in 2010 BP paid no dividend at all. On top of that, BP's current dividend is still a full 39% below its pre-recession levels.

Stagnant and/or decreasing dividend payments are anathema to the dividend investor, thus leaving only Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX) as reasonable choices. With extremely similar historic growth rates Chevron's yield advantage makes the company a superior choice. While Exxon's five-year dividend growth is about 4% greater than that of Chevron, Chevron's current yield is a full 23% greater than that of Exxon. This imbalance swings things in favor of Chevron.

Quelle:Insider Money

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Chevron buys Chinese gas acreage

Exploring new blocks acquired by a Chevron subsidiary in China will help the company expand its regional natural gas footprint, an executive said.

Chevron China Co. announced it entered into production sharing contracts with China National Offshore Oil Corp. to explore blocks 15/10 and 15/28 in the Pearl River Mouth basin in the South China Sea.

"Exploration of these blocks builds on our strategy to grow our business across the Asia Pacific region, where we are developing liquefied natural gas, deepwater, shale and sour gas resources," said George Kirkland, vice chairman of Chevron Corp., in a statement.

Chevron serves as the operator of the two shallow water blocks that cover an area of about 2,233 square miles.

The Chinese Ministry of Land Resources last month announced that 83 companies competed for 20 blocks in the country's latest shale gas auction. Chinese shale may be located in parts of the country were infrastructure development is complex, however.

For shale and other unconventional sources of natural gas, China aims to prove explorable reserves of around 7 trillion cubic feet by 2015.

Quelle: UPI.COM

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Chevron Corporation : Chevron Acquires New Offshore China Acreage

Chevron Corporation (NYSE: CVX) announced today that its China subsidiary has entered into production sharing contracts (PSC) with China National Offshore Oil Corporation (CNOOC) for two exploration blocks in the South China Sea's Pearl River Mouth Basin.

Under the PSC agreements, Chevron China Energy Company will hold a 100 percent interest in blocks 15/10 and 15/28 in the Pearl River Mouth Basin. During the exploration phase Chevron China Energy Company will be the operator of the two shallow water blocks, which in total cover an area of approximately 2,233 square miles (5,782 square km).

"Exploration of these blocks builds on our strategy to grow our business across the Asia Pacific region, where we are developing LNG, deepwater, shale and sour gas resources," said George Kirkland, vice chairman, Chevron Corporation.

Melody Meyer, president, Chevron Asia Pacific Exploration and Production, said, "We welcome the opportunity to partner with CNOOC and apply our industry-leading exploration capabilities in the prospective Pearl River Mouth Basin."

Quelle:4-traders

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Societe Generale Reiterates Buy Rating, $126 PT on Chevron Corporation

Societe Generale noted, “In its 4Q interim update published last night, CVX reported U.S. upstream volumes that were tracking at 676kboe/d during October and November, above our 661kboe/d 4Q estimate, led by better liquids, while international volumes were tracking at 1,986kboe/d vs. our 1,996kboe/d estimate. Crude price realizations through November were also slightly ahead of our assumptions in the U.S. in the downstream, volumes were tracking in line in the U.S. and at a modestly higher than expected pace internationally, while refining and marketing margins were above our assumptions domestically. Corporate costs were guided above the $300M-$400M typical range, implying a number above $390M SGe.”

Chevron Corporation closed on Thursday at $110.47.

Ein sehr guter Öl- und Gaswert sowieOil Sand, Gas t0 Liquids usw.. unterbewertet und zahlt eine gute und stetige Dividende.

Quelle:Benzinga

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Chevron - Charttechnik: 27.12.2012

Unser Pivot-Punkt liegt bei 106.4.
Unsere Meinung: solange die Unterstützung bei 106.4 hält, ist die Aufwärtstendenz intakt.
Alternatives Szenario: unter 106.4 lauten die Kursziele 103.8 und 102.2
Analyse: der RSI liegt über der Neutralitätszone von 50. Der MACD liegt über der Signallinie und ist positiv. Die Konfiguration ist positiv. Es wird darauf hingewiesen, dass die Volumina seit einigen Tagen ansteigen.

Quelle: CC

Mal schauen ob die Marke von 106.4 $ hält?!

Allen Investierten ein erfolgreiches, friedliches und sorgenfreies 2013, für die Börse die richigen Entscheidungen gepaart mit Ruhe, Ausdauer und
Gelassenheit !

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