Chevron Corp

CVX: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$631.00	Pdxhz	Ktgbskqz

Increasing Chevron Fair Value Estimate on Strong Results and Accretive Acquisition

Allen Good

Aug 31, 2023

Business Strategy and Outlook

We expect Chevron to deliver higher returns and margin expansion thanks to an oil-leveraged portfolio as well as the next phase of growth, which is focused on developing its large, advantaged Permian Basin position.

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