Bulletin
Investor Alert

New York Markets Close in:

Market Pulse Archives

Dec. 3, 2020, 8:10 a.m. EST

Chevron announces $14 billion capital and exploratory budget for 2021

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Chevron Corp. (CVX)
  • X
    Dow Jones Industrial Average (DJIA)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Ciara Linnane

Chevron Corp. /zigman2/quotes/205871374/composite CVX -3.68% said Thursday it is planning a capital and exploratory budget of $14 billion for 2021 and lowered its long-term guidance to $14 to $16 billion annually through 2025. "This capital outlook will continue to prioritize investments that are expected to grow long-term value and deliver higher returns and lower carbon, including over $300 million in 2021 for investments to advance the energy transition," the company said in a statement. The guidance is lower than earlier guidance of $19 billion to $22 billion, which excluded Noble Energy, which the company acquired in July. The integration is on track, said CEO Michael Wirth. Shares were not active premarket, but have fallen 25% in the year to date, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.48% has gained 4.7% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.67% has gained 13.6%.

/zigman2/quotes/205871374/composite
US : U.S.: NYSE
$ 91.98
-3.51 -3.68%
Volume: 7.64M
Jan. 15, 2021 3:50p
P/E Ratio
N/A
Dividend Yield
5.60%
Market Cap
$183.82 billion
Rev. per Employee
$2.91M
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
30,843.05
-148.47 -0.48%
Volume: 333.41M
Jan. 15, 2021 3:50p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,770.22
-25.32 -0.67%
Volume: 2.07B
Jan. 15, 2021 3:50p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.