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Monday, March 30, 2020 8:56:33 AM
Like all producers, Chevron faces a two-headed hydra of much lower global demand and increased oversupply that has forced oil prices down from $60/barrel recently to $20/barrel now.
Chevron’s dividend is $5.16/share for a yield of 7.5%; it is cutting its capital budget to prioritize its dividend. The company's market capitalization is $129.3 billion.
Because of its good balance sheet, budgeting pivot, and international operations, Chevron is in better shape to withstand the oil price downturn than smaller, U.S.-only producers.
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