By Paul Sankey
Published on March 11, 2021 at 9:17 AM
The first slide considered at the Chevron virtual analyst meeting 2021 was pretty depressing. The company showed an adjusted ROCE of 2.9% and a plan to get this to 10% by 2025. On a day when Tesla had the biggest single move by any stock in history (20% up move added $140bn, or more than the entire value of TOTAL in one day) the investment merits of a major oil taking its ROCE from 3% […]
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By Paul Sankey
Published on March 9, 2021 at 8:21 AM
Chevron has its annual analyst meeting today, in virtual form. The meeting starts at 10am ET. There’s no question that over the past year, Chevron enjoyed a major moment in its corporate history, when its market cap exceeded that of ExxonMobil. Of course, the circumstances were unfortunate, but the reality is that CVX surpassing XOM in value was a very long road and a major achievement for the company. In fact, since the 2001 tech […]
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By Paul Sankey
Published on March 5, 2021 at 8:55 AM
It’s Friday. What do you call an overweight kidney doctor who also predicts the weather? A meaty urologist. My thoughts on Mongolian poetry: It has its prose and its Khans. Why do astronauts use Linux? Because you can’t open Windows in space. Noted: Ovintiv results this morning, former rival big oil analyst, and buddy, Kate Minyard has been appointed to the board at the behest of activist Kimmeridge’s Mark Viviano. Viviano/Kimmeridge publish excellent “white papers” […]
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