Chevron Posts Massive 8.3 billion Loss After Coronavirus Pandemic Crushed Demand

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  • #24297
    ThePitBoss
    Participant

    Chevron reported second quarter results Friday along with…

    [article]2157[/article]

    #24678
    ThePitBoss
    Participant

    BofA Securities upgraded Chevron $CVX to Buy from Neutral

    Says Price discounts no recovery in refining earnings in perpetuity BUT with current yield above 7% they believe will be comfortably covered even at $45 #WTI ($50 Brent).

    #24715
    ThePitBoss
    Participant

    [size=5][b]Chevron $CVX completed acquisition of Noble Energy following approval by $NBL shareholders
    [/b][/size]
    In July, Chevron agreed to acquire all Noble Energy in all-stock transaction valued at $5 billion, or $10.38 per share, adding Noble Energy’s proved reserves to Chevron’s global upstream portfolio. The proved reserves will be acquired for under $5 per oil equivalent barrel.

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