Morningstar Rating

Stock Research and Analysis

by Allen Good, CFA

Bulls Say

Investments in LNG projects around the world will allow the company to better exploit stranded resources while providing reserve and cash flow growth.
Growth is expected to rise post-2015 thanks to the startup of several projects, including the Gorgon LNG project, and should lead all majors while maintaining peer-leading liquids exposure.
Chevron's past exploration success should lead to reserves and production in the near future from Western Australia and the Gulf of Mexico. Read more 

Bears Say

Chevron may find it increasingly difficult to boost production and book reserves as nations become more protective of their natural resources and are potentially averse to working with foreign energy companies.
Cost inflation and currency appreciation plagued Chevron's Gorgon LNG development in Australia, damaging returns.
Ongoing legal action related to Chevron's now-ceased Ecuadorean operations could result in a significant monetary judgment against the company. The case is likely to drag on for years, prolonging the uncertainty. Read more 

Management

John Watson assumed the CEO and chairman position in 2010 after serving as vice chairman. He joined Chevron in 1980 and has held several different senior management roles, including president of international exploration and production and CFO. We like   Read more 

Profile

Chevron is an integrated energy company with exploration, production, and refining operations worldwide. With production of 2.6 million of barrels of oil equivalent a day   Read more 

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