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ISIN code: US1667641005
Sector: Energy Minerals
Industry: Integrated petroleum
Le actions of Chevron Corporation are listed on the NYSE under the ticker CVX.
View the stock's NYSE listing history
Company Description
Chevron Corporation è a US oil company. Chevron is the second largest oil company in America and one of the largest in the world. It is one of the companies that have dominated the global oil industry scene.
The head office is in San Ramon, California. It has around 43.000 employees.
The company is active in more than 180 countries. It owns 16 refineries worldwide and a network of 13.600 service stations with the brands Chevron, Texaco e Caltex in the world.
Chevron operates in every sector of the oil and natural gas industry: exploration and production of hydrocarbons, refining, transportation, marketing, production and sale, energy production.
The company's major areas of activity are the West Coast of North America, the Gulf Coast of the United States, Southeast Asia, South Korea and Australia.
In 2020, according to the ranking of Fortune500, Chevron ranks 146,5th with annual revenues of $XNUMX billion. In the Forbes Global 2000, Chevron is ranked the 61st largest public company in the world.
It is listed on the New York Stock Exchange and has been part of the index since 2008 Dow Jones.
Among the major investors we find:
- The Vanguard Group, 8,35%
- State Street Corporation 7,22%
- Blackrock Inc, 7,05%
- Capital International Investors 1,97%
- Bank of America Corporation, 1,72%
- Geode Capital Management, LLC, 1,58%
- Capital Research Global Investors, 1,35%
- Northern Trust Corporation, 1,32%
Economic and financial analysis of the company
Chevron Corporation was born in California in 1911 following the dissolution of Standard Oil Company, taking the name of Standard Oil of California. He joined the "Seven Sisters” , which dominated the world oil industry in the early XNUMXth century.
The name "Chevron" first came into use for some of its retail products in the 30s.
In 1933, Saudi Arabia granted California Standard the concession to explore for oil, which led to the discovery of oil in 1938. In 1948, California Standard discovered the largest oil field in the world in Saudi Arabia, Ghawar Field. Over the years the subsidiary, California-Arabian Standard Oil Company, grows and becomes theArabian American Oil Company (ARAMCO) in 1944. In 1973, the Saudi government begins to buy Aramco which will become completely Saudi in 1988. The name will be changed to Saudi Arabian Oil Company (Saudi Aramco).
In 1984 it acquired the Gulf Oil Corporation worth $13.400 trillion. It was the largest merger in history up to that point. Officially changes the name to Chevron Corporation.
In Europe it has operated for a long time through Caltex, a joint venture created with Texaco. Over the years the partnership was dissolved and Chevron acquired most of the Caltex plants.
In Italy it was present with its network but in 1986 it sold the service stations to Isaac of the Garrone group.
In 1996, he sold his natural gas collection, management and marketing business to NGC Corporation (afterwards Dynegy) in exchange for an approximately 25% stake in NGC.
In 2001 Chevron announces the acquisition of Texaco for 45 billion dollars. The company is renamed ChevronTexaco; the second largest oil company in the United States and the fourth largest oil company is born. Its value on the stock exchange was about 95 billion dollars.
In 2005, the company dropped the combined name and reverted to the Chevron name while the Texaco name remained as a gas station brand.
Acquire the Unocal Corporation for $18,4 billion, increasing the company's oil and natural gas reserves by about 15%. Thanks to Unocal's geothermal operations in Asia, Chevron also becomes a large producer of geothermal energy.
In 2011, Chevron acquires Atlas Energy Inc., for $4,3 billion (including $1,1 billion of debt).
In October 2014, Chevron announces the sale of 30% of its Canadian oil shale holdings to Kuwait Oil Company for 1,5 billions of dollars.
In February 2020, Chevron joins Marubeni Corporation e WAVE Equity Partners in investing in Carbon Clean Solutions, a company that offers industrial carbon capture solutions that help industries decarbonise.
Due to the COVID-19 pandemic, Chevron has announced a 10-15% reduction in its workforce.
On July 20, 2020, Chevron announced the acquisition of Noble Energy for 5 billions of dollars.
The latest news about Chevron Corporation
Chevron buys Hess in a huge all-stock deal worth $53 billion
Chevron responds to Exxon and focuses on Hess to strengthen its portfolio - All over the world, the farewell to hydrocarbons is now a memory
Chevron buys Noble Energy for $5 billion
Chevron's offering values Noble at $10,38 a share or 0,1191 Chevron share, a 7,5% premium over Noble's Friday close.
HAPPENED TODAY – Oil: the myth of Standard Oil is born
One morning 138 years ago, John Rockefeller united all his companies in a single trust, laying the foundations of the empire from which two today's oil giants such as Exxon Mobil and Chevron were born
Sinopec-Chevron: maxi operation in Africa
The Chinese oil group has bought 900% of the assets in South Africa and 75% of those in Botswana from the US Chevron for 100 million – The package also includes a refinery and a lubricant production complex in Durban.
Exxon and Chevron: US oil in the red
The two largest oil companies in the United States present accounts in the red in the third quarter of 2015 – Profits and turnover fall for Exxon, Chevron cuts 7 thousand jobs.