Chevron Corp. Upping Capital Spending to Highest Level in 2023 Amid Biden Administration Pressure

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Chevron Corporation Intrinsic Value – Chevron Corporation ($NYSE:CVX) is one of the largest international energy companies, with operations in more than 180 countries around the world. It is an integrated oil and gas company that explores for, produces, transports, and sells crude oil, natural gas and petroleum products. Chevron is one of the world’s leading producers of natural gas, and is a major player in the petrochemical industry. Chevron has recently announced that it will be increasing its 2023 capital spending to its highest level in over two decades. This decision has been made in response to pressure from the Biden Administration, who have been calling on oil and gas companies to reduce emissions.

The additional capital spending will be focused on two key areas: developing cleaner energy sources and reducing emissions from current operations. This includes investing in renewable energy sources such as solar and wind, as well as investing in new technologies that can reduce emissions from current operations. The additional funds will also be used to improve safety and efficiency of Chevron’s operations, as well as investing in digital technologies that can help to increase efficiency and reduce emissions. This commitment is part of the company’s efforts to become a leader in the global fight against climate change. By increasing its capital spending and committing to reducing greenhouse gas emissions, Chevron is showing its commitment to helping the environment and supporting the Biden Administration’s climate change agenda.

Market Price

So far, the news has mostly been negative for Chevron, with its stock opening Thursday at $176.2 and closing at $173.5, up by 0.6% from its previous closing price of $172.5. This goal would require the U.S. to make considerable changes to the way it sources, produces, and consumes energy – changes that could significantly impact Chevron’s business operations. In response, Chevron is increasing its capital spending in order to meet the government’s goals while continuing to operate profitably. Chevron’s increased spending may be seen as a sign of desperation as it attempts to remain competitive in a changing energy market. Additionally, the company is facing increased costs as it makes the shift toward renewable energies and other forms of clean energy production.

However, Chevron is hoping that its increased capital spending will put it in a better position to take advantage of any potential opportunities that arise from the Biden administration’s policies. Overall, the Biden administration’s pressure on oil and gas companies has had a negative effect on Chevron Corp. so far. However, the company is still optimistic about its future prospects and is increasing its capital spending in order to remain competitive in the changing energy landscape. Live Quote…

About the Company

VI Analysis – Chevron Corporation Intrinsic Value Calculator

Chevron Corporation is a global energy company with a long-term potential that can be seen in its fundamentals. The VI app makes it simple to analyze the company’s data and quickly assess its value. After evaluating the company, VI Line has determined that the intrinsic value of Chevron Corporation shares is around $179.9. Currently, the stock is trading at $173.5, meaning it is being undervalued by 4%. This is an attractive price for investors who are looking for long-term growth potential and are willing to take a small risk. Investing in Chevron Corporation now could be a smart move since the stock is trading below its intrinsic value, offering potential upside. It is important to note, however, that the stock market can be unpredictable and that it is important to conduct thorough research before investing. More…

VI Peers

The Chevron Corp competes with Exxon Mobil Corp, Occidental Petroleum Corp, and ConocoPhillips. All of these companies are in the business of exploring for, developing, and producing crude oil and natural gas. Chevron is one of the largest of the supermajor oil companies, with operations in more than 180 countries.

– Exxon Mobil Corp ($NYSE:XOM)

Exxon Mobil Corporation is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller’s Standard Oil Company, and was formed on November 30, 1999 by the merger of Exxon (formerly the Standard Oil Company of New Jersey) and Mobil (formerly the Standard Oil Company of New York). The world’s seventh largest company by revenue, ExxonMobil is also the seventh largest publicly traded company by market capitalization. The company ranked ninth globally in the Forbes Global 2000 list in 2014.

– Occidental Petroleum Corp ($NYSE:OXY)

Occidental Petroleum Corp is a large American oil and gas company with operations in the United States, the Middle East, and Latin America. The company has a market cap of 63.77B as of 2022 and a return on equity of 29.73%. Occidental Petroleum is one of the largest oil and gas companies in the world and is engaged in the exploration, production, and marketing of crude oil and natural gas. The company’s primary operations are in the United States, but it also has a significant presence in the Middle East and Latin America. Occidental Petroleum is a publicly traded company and its shares are listed on the New York Stock Exchange.

– ConocoPhillips ($NYSE:COP)

ConocoPhillips is an American multinational energy corporation with its headquarters in Houston, Texas. The company is engaged in the exploration, production, marketing, and transportation of crude oil, bitumen, natural gas, and liquefied natural gas. As of December 31, 2019, the company had estimated proved reserves of 8.4 billion barrels of oil equivalent.

ConocoPhillips has a market capitalization of $150.08 billion as of January 2021. The company’s return on equity was 30.9% for the year ended December 31, 2020.

ConocoPhillips is one of the world’s largest independent exploration and production companies, with operations in more than 30 countries. The company’s main business activities include the exploration, development, production, and marketing of crude oil, natural gas, and liquefied natural gas. ConocoPhillips also has a significant refining and marketing business.

Summary

Investing in Chevron Corporation is a potentially lucrative endeavor. The company is one of the world’s leading energy producers, and its operations span far beyond the United States—in fact, it operates in some of the most promising energy markets in the world. Its production capacity is tremendous, and its portfolio of assets is diverse and expansive. Chevron Corporation has recently announced plans to increase capital spending to its highest level in 2023, reflecting the Biden Administration’s pressure on the industry to invest more in renewable energy sources.

In addition, Chevron’s financial health is strong, with a well-balanced balance sheet and healthy cash flows. Its investments in exploration and production continue to increase, suggesting that the company is well-positioned to capitalize on new opportunities. With a strong financial base and diversified operations, Chevron is a great choice for investors seeking long-term growth potential. Finally, Chevron’s dividend yield is attractive for income-oriented investors. With a yield of nearly 4%, investors can expect a steady stream of income from the company’s quarterly dividends. In addition, Chevron has recently announced plans to increase its dividend payments, which could further boost investor returns. Overall, investing in Chevron Corporation is a smart move for those looking for long-term growth potential and income stability. The company’s commitment to sustainability and robust financials make it an attractive option for investors of all types.