Skip to Content
Morningstar
Get 14 Days Free

Chevron Corp CVX

Morningstar Rating
Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
Is it the right time to buy or sell?
Find out with Morningstar Premium
Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Chevron's Earnings Deteriorate in Q4, but Outlook Improved as Dividend Safe; Shares Undervalued

Allen Good, CFA Sector Strategist

Analyst Note

| Allen Good, CFA |

Chevron reported a loss of $665 million during the fourth quarter compared with a loss of $6.6 billion the year before, which included $10.4 billion in impairments. Earnings worsened from a loss of $207 million in the third quarter as downstream and corporate segment losses increased and offset higher profits from the upstream segment.

Read Full Analysis

Company Profile

Business Description

Chevron is an integrated energy company with exploration, production, and refining operations worldwide. Chevron is the second- largest oil company in the U.S. with production of 2.8 million of barrels of oil equivalent a day, including 6.8 million cubic feet a day of natural gas and 1.7 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries in the U.S. and Asia have a total refining capacity of 1.7 million barrels of oil a day. Proven reserves at year-end 2019 stood at 11.4 billion barrels of oil equivalent, including 6.5 billion barrels of liquids and 29.5 trillion cubic feet of natural gas.

Contact
6001 Bollinger Canyon Road
San Ramon, CA, 94583-2324
T +1 925 842-1000
Sector Energy
Industry Oil & Gas Integrated
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2021
Stock Type Hard Assets
Employees 13,379

Related

Our Picks
3 Warren Buffett Stocks to Buy
These undervalued stocks are among the top holdings in Berkshire Hathaway today.
Susan Dziubinski
Investing Specialists
Our Ultimate Stock-Pickers' Top 10 High-Conviction Purchases
Several managers see value in technology and financial services.
Malik Ahmed Khan
Commentary
The Week Ahead: Macy's, Airbnb, and Berkshire Hathaway to Report Earnings
Nvidia and Home Depot are among several big companies on our radar for the week ahead.
Carole Hodorowicz
Stock Analyst Update
Chevron's Earnings Deteriorate but Outlook Improved
Chevron’s dividend remains safe, in our view, with relatively low leverage levels, an improved cost structure, and the likelihood of improving cash flow.
Allen Good
Commentary
The Week Ahead: Apple, Facebook, and Tesla to Report Earnings
The week ahead is stacked with big names across every sector.
Carole Hodorowicz
Market Update
The Value Rebound Is Good News for Dividend Investors
Equity income is well-positioned, both short- and long-term.
Dan Lefkovitz
Our Picks
5 Cheap Stocks With Growing Dividends
These heavily weighted names in the Morningstar US Dividend Growth Index are all at least 20% undervalued.
Susan Dziubinski
Stock Analyst Update
Chevron's Cash Flow Falls Short; No Dividend Concerns
We don't expect a material change our $111 per share fair value estimate.
Allen Good
Commentary
The Week Ahead: Google, Amazon, Facebook, and Apple to Report Earnings
We look forward to a week jam-packed with earnings reports from big companies.
Carole Hodorowicz
Commentary
How Big Fund Families Voted on Climate Change: 2020 Edition
Vanguard, State Street, and Fidelity increased support for shareholder resolutions aimed at tackling climate change, while BlackRock voted 'no' more than 80% of the time.
Jackie Cook
The Short Answer
What Is the Dow Jones Industrial Average?
Recent membership changes highlight confusion around the famous index.
Sachin Nagarajan
Commentary
3 Areas Where Shareholder Resolutions Can Advocate for Systemic Change
A look at how shareholders pursued racial justice in the 2020 proxy season, and what we expect in 2021.
Jackie Cook
Rekenthaler Report
The S&P 500 Grows Ever More Concentrated
Does this bode well for small-value stocks?
John Rekenthaler
Stock Analyst Update
Chevron Acquires Noble Energy, But Fit Is Questionable
Chevron announces acquisition of Noble Energy, but this won't change its fair value estimate or moat rating.
Dave Meats
Our Picks
7 Undervalued Stocks With Healthy Yields
We expect these high yielders to sustain their dividends in the future. Plus, they're cheap.
Susan Dziubinski
Sustainability Matters
ESG Funds Setting a Record Pace for Launches in 2020
Here's a look at some intriguing new sustainable funds so far this year.
Jon Hale
Commentary
Investors Need to Act on Institutionalized Discrimination
While shareholder resolutions are a key way for investors to hold companies accountable for action on issues of social justice, they rarely drive firms to change.
Jackie Cook
Commentary
Key ESG Issues Up for Shareholder Vote
Employee welfare and political influence are among the big environmental, social, and governance issues this year.
Jackie Cook
Stock Strategist Industry Reports
Epic Oil Crash Sets Up Brutal Downturn for Energy Sector
But recovery is inevitable, and stocks look very cheap--just watch out for bankruptcy risk.
Preston Caldwell
Stock Analyst Update
Storage Fears Spark Epic Collapse for WTI Crude
Widespread social distancing due to the coronavirus has dragged down gasoline consumption and storage utilization is rapidly climbing.
Dave Meats