Chevron Stock News

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Futures, Treasury Yields Tumble As Ukraine News Spike Risk Off Mood In a mirror image of yesterday''s overnight bounce, S&P futures and European markets have slumped to session lows as a risk off mood prevailed as US traders got to their desks having hit overnight highs of 4,399 just before the European open, as mood soured after the conflict in Ukraine intensified amid mounting penalties against Russia, and as participants look to a heavy data-docket ahead and Fed speak including Powell later in the week. Any residual optimism was shattered after Ukrainian President Zelensky said that negotiations with the Russian side have not achieved required results while Russian Defense Minister Shoygu says Russia will continue operations in Ukraine until it achieves its goals. As a result, Nasdaq 100 contracts were down 0.9% as of 7 a.m. in New York after the cash index closed yesterday’s session with its second straight monthly decline, a trend not seen since October 2020. S&P 500 futures declined 0.7% or 30 points to 4,337 while Dow futures fell 0.7% or 230 points, reversing much of yesterday''s last hour ramp.

Chevron says it now expects to buy back between $5-billion and $10-billion of its shares every year, compared with its previous target of between $3-billion and $5-billion

At its annual investor day Tuesday, Chevron said it expects to see the return on capital employed rising to 12% by 2026 from 9.4% in 2021.

Chevron Corp on Tuesday raised its share buyback and forecast for operating cash flow through 2026, benefiting from cost cuts and a recent surge in energy prices.

Shares of Chevron Corp. rose 1.6% in premarket trading Tuesday after the oil giant doubled its guidance for per-year share repurchases and raised its target for return on capital employed. At the company''s investor meeting, the company said it now expects to buy back $5 billion to $10 billion worth of stock per year, up from its previous guidance of $3 billion to $5 billion. That buybacks could represent 1.8% to 3.6% of Chevron''s market capitalization of $280.45 billion as of Monday''s close. And the company now targets a 12% return on capital employed in 2026 at with Brent crude at $60 a barrel, and 10% compound annual growth rate (CAGR) of operating cash flow per share by 2026. Chevron also affirmed its targets to lower carbon intensity of operations and grow new energy businesses. "We''re aiming to grow cash flow and return more of it to shareholders, leveraging our strengths to deliver lower carbon energy to a growing world," said Chief Executive Michael Wirth. The stock has run up 28.5% over the past three months through Monday, while the SPDR Energy Select Sector ETF has rallied 27.0% and the Dow Jones Industrial Average has slipped 2.9%.

NEW YORK--(BUSINESS WIRE)--At its annual investor meeting today, Chevron Corporation (NYSE: CVX) reported on its progress to deliver higher returns and advance a lower carbon future. “Chevron’s executing a straightforward strategy, grounded in capital and cost discipline,” said Michael Wirth, chairman and CEO. “We’re aiming to grow cash flow and return more of it to shareholders, leveraging our strengths to deliver lower carbon energy to a growing world.” Higher Returns Chevron expects to conti

Chevron Corporation (NYSE: CVX) and Renewable Energy Group, Inc. (NASDAQ: REGI) (REG) have announced a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at US$3.15 billion, or US$61.50 per share. The acquisition combines REG’s growing renewable fuels production and leading feedstock capabilities with Chevron’s large manufacturing, distribution, and commercial marketing position. Latham & Watkins LLP represents REG in the transaction with a corporate deal team led by Chicago partners Bradley Faris and Mark Gerstein and New York partner David Owen, with associates Sean Parish, Aidan Milstead, Andrew James, Micah Kamoe, Autumn The post Latham & Watkins Advises Renewable Energy Group in US$3.15 Billion Acquisition by Chevron appeared first on Legal Desire .

Chevron Corp. on Feb. 28 announced a definitive agreement to acquire REG. Chevron cited REG’s expertise in feedstock sourcing and market access as two factors that make the transaction an attractive way to boost Chevron’s renewable fuels business.

Chevron, the second-biggest U.S. oil and gas producer, said it would pay $61.5 in cash for each share of Renewable Energy, a premium of over 40% to the company’s close on Feb. 25.

In October, REG held a groundbreaking ceremony for a $950 million improvement and expansion of its renewable diesel production facility in Louisiana.

Chevron Corp has tapped Paul, Weiss, Rifkind, Wharton & Garrison to lead its $3.15 billion acquisition of Renewable Energy Group Inc (REG), which hired Latham & Watkins for the deal.

Renewable Energy (REGI) is rising higher on Monday following news that Chevron (CVX) is going to acquire the company for $61.50 per share.

(Bloomberg) -- Chevron Corp.’s $3.1 billion purchase of Renewable Energy Group Inc. is a statement of the oil giant’s intent to accelerate its energy transition strategy, according to Chief Executive Officer Mike Wirth.

Gainers Mullen Automotive, Inc. (NASDAQ: MULN ) jumped 74.4% to $1.20 after the company reported progress on solid-state polymer battery pack development. Renewable Energy Group, Inc. (NASDAQ: REGI ) shares jumped 38.7% to $60.75 after Chevron Corp (NYSE: CVX ) announced an agreement to acquire the company. IntriCon Corporation (NASDAQ: IIN ) gained 37.3% to $23.91 after the company agreed to be acquired by an affiliate of Altaris Capital Partners for $241 million. IntriCon also posted Q4 EPS of $0.23. NeuroSense Therapeutics Ltd. (NASDAQ: NRSN ) climbed 30.5% to $2.01 after gaining around 8% on Friday. First Horizon Corporation (NYSE: FHN ) shares climbed 30.4% to $23.80 after TD announced acquisition of the company for $25 per share in cash. Imperial Petroleum Inc. (NASDAQ: IMPP ) shares rose 26% to $2.6450 after jumping around 34% on Friday. Everbridge, Inc. (NASDAQ: EVBG ) gained 23% to $37.67. Lifeway Foods, Inc. (NASDAQ: LWAY ) surged 20% to $6.60. Azure Power Global Limited (NYSE: AZRE ) gained 19.9% to $18.76.