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DewDiligence

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DewDiligence

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Re: DewDiligence post# 21470

Wednesday, 03/25/2020 9:59:44 PM

Wednesday, March 25, 2020 9:59:44 PM

Post# of 30495
CVX borrows a page from Shell—cut costs—maintain dividend:

https://finance.yahoo.com/news/chevron-announces-actions-response-market-104500735.html


• Reduces 2020 capital spending plan by $4 billion, or 20%

• Permian production guidance reduced by 20%

• Suspends share repurchases

• Actions protect the dividend, prioritize long-term value, and support industry leading balance sheet

Chevron’s PR, which was issued Tuesday morning, has a lot in common with the one issued by Shell on Monday (#msg-154513970).

Investors like it! CVX was +28% cumulatively on Tue/Wed.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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