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Analysis of Chevron Corporation.

Analysis of Chevron Corporation.

3 August 2022

Chevron: excellent result

One of the gems of the next corporate reporting season in the USA is the release of the Chevron Energy Corporation. 

The strengths of the giant’s reporting for the second quarter of 2022:

  • EPS (adjusted) +270% to $5.82 per share versus expectations of $5.08 per security;
  • revenue +62.5% to $68.76 billion with a forecast of $58.67 billion;
  • the mining division increased its profit by 169% YoY to $8.56 billion; 
  • the refining division increased its profit by 320% YoY to $3.52 billion;
  • quarterly total net profit increased 3.7 times YoY and amounted to $11.6 billion.

The main argument is high energy prices: oil and gas. 

An additional argument in favor of the company’s securities is the optimization of the share buyback program, as well as the expansion of investments in alternative energy sources. 

Risks:

  • complicated geopolitical and economic situation, which can lead to a decline in prices and demand for energy. 

The consensus estimate for the stock is $172-175 for the next 12 months. 

The technical picture of trading in Chevron securities shows that the MACD indicator on the daily chart is growing in the negative zone, it is preparing to enter the positive area and signals a purchase. The Shochastic oscillator declines in the positive zone, reducing the fact of being overbought, but leaves a buy signal in force.

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    ARAVANA Capital management
    3 August 2022
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