Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Chevron Corporation    CVX

CHEVRON CORPORATION (CVX)
My previous session
Most popular
  Report  
Real-time Quote. Real-time Cboe BZX - 09/24 06:12:28 pm
121.98 USD   +0.70%
04:42pOil major Total makes major offshore UK gas discovery
RE
09/20Shell in talks to sell $1.3 billion of Gulf Coast assets - Bloomb..
RE
09/20Oil Giants Use Size to Overcome Fracking Challenges
DJ
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweets
OFFRE

Chevron : projects $18.3 billion spending budget, down 4 percent

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/07/2017 | 03:20am CEST
FILE PHOTO - John Watson, Chevron's chairman and CEO, speaks during an interview on the floor of the NYSE in New York

HOUSTON (Reuters) - Chevron Corp, the second largest U.S.-based oil producer, is budgeting $18.3 billion for capital projects next year, the company said on Wednesday, about 4 percent less than this year and lower for a fourth year in a row.

International energy company capital budgets, closely watched for indications of future oil and gas production, broadly have been shrinking after 2014's oil-price collapse slashed earnings and left many with high debt loads.

In Chevron's case, the sharp declines coincide with its spending winding down on several long-term and costly projects in Australia and elsewhere. Capital and exploratory spending in the first nine months of this year was about half that of three years ago, a company spokeswoman said.

The 2018 budget reflects "project completions, improved efficiencies and investment high-grading," said Chief Executive John Watson in a statement. Spending on shale will rise to $4.3 billion overall this year, said Watson, who will retire early next year.

The San Ramon, California-based company expects expenditures this year to be less than $19 billion, down from the $19.8 billion it estimated a year ago. It has told investors that capital spending between 2018 and 2020 would range from $17 billion to $22 billion a year.

Next year, Chevron expects to spend $15.8 billion on oil and gas exploration, $2.2 billion on refining, marketing and petrochemicals, and about $300 million for its share of affiliated company spending.

Most oil producers have yet to disclose their 2018 budgets, which generally are released in December and January. Analysts expect companies to pledge to keep 2018 spending in check and focus on reducing debt and boosting cash flow.

Chevron shares were off 78 cents at $119.61 in trading on Wednesday and are up less than 2 percent this year.

(Additional reporting by Shalini Nagarajan in Bengaluru; Editing by Sandra Maler and Grant McCool)

By Gary McWilliams

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CHEVRON CORPORATION
04:42pOil major Total makes major offshore UK gas discovery
RE
09/20Shell in talks to sell $1.3 billion of Gulf Coast assets - Bloomberg
RE
09/20Oil Giants Use Size to Overcome Fracking Challenges
DJ
09/19Microsoft introduces HoloLens to businesses through Dynamics 365 apps
RE
09/18CHEVRON : Kazakhstan`s $1.1B Karachaganak project to sustain high output, Shell ..
AQ
09/17CHEVRON : El Segundo, Calif., Refinery Suffers Power Outage, Flaring -- Update
DJ
09/17CHEVRON : El Segundo, Calif., Refinery Suffers Power Outage, Flaring
DJ
09/17Petrobras to boost oil output in 2019, cut debt $10 billion - CFO
RE
09/15CHEVRON : Sempra Energy Unit Inks Marine Terminal Contract in Mexico
AQ
09/14CHEVRON : 2018 Delo Tractor Restoration Competition Finalists Announced
AQ
More news
News from SeekingAlpha
10:04a'SAFER' DIVIDEND DOW DOGS : Intel, Chevron, DowDupont, McDonald's, And Boeing Ca.. 
08:06aGot A Buck For Retirement? You're Beating Most Americans 
09/23The Dogs Of The Dow September Update By Dividend Dogcatcher 
09/22Nigerian nationwide strike over Chevron dispute 
09/21Analyzing A Top Energy ETF For Energy Plays 
Financials ($)
Sales 2018 177 B
EBIT 2018 21 579 M
Net income 2018 15 363 M
Debt 2018 25 326 M
Yield 2018 3,71%
P/E ratio 2018 15,34
P/E ratio 2019 12,93
EV / Sales 2018 1,46x
EV / Sales 2019 1,39x
Capitalization 232 B
Chart CHEVRON CORPORATION
Duration : Period :
Chevron Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CHEVRON CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 144 $
Spread / Average Target 19%
EPS Revisions
Managers
NameTitle
Michael K. Wirth Chairman & Chief Executive Officer
Patricia E. Yarrington Chief Financial Officer & Vice President
Joseph C. Geagea EVP-Technology, Projects & Services Divisions
Ronald D. Sugar Lead Independent Director
Enrique Hernandez Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
CHEVRON CORPORATION-3.24%232 103
HOLLYFRONTIER CORP30.57%11 783
POLSKI KONCERN NAFTOWY ORLEN SA-8.58%11 397
BHARAT PETROLEUM CORPORATION-27.34%11 315
IDEMITSU KOSAN CO., LTD.29.22%11 230
PETRONAS GAS BHD--.--%9 108