Pandemic Blues To Weigh On Chevron Stock?

Pandemic Blues To Weigh On Chevron Stock?

SAN RAFAEL, CA - OCTOBER 30: The Chevron logo is displayed at a Chevron station on October 30, 2015 ... [+] in San Rafael, California. Chevron announced plans to cut up to 7, 000 jobs as oil prices continue to slump. Chevron's third quarter revenue fell 37. 2% to $34. 3 billion compared to one year ago. (Photo by Justin Sullivan/Getty Images) The shares of Chevron Corporation (NYSE: CVX) have trended downward in recent weeks after the OPEC+ announced the easing of production curbs. Notably, the EIA expects WTI benchmark prices to average $65/bbl in 2021 and decline to $62/bbl in 2022 as rising production by OPEC outpaces demand. At $60/bbl of Brent, Chevron targets $150 billion of operating cash in the next five years with $75 billion allocated to capital expenses, around $50 billion for dividends, and $25 billion of excess cash. Given the $20 billion increase in long-term debt in 2020, the stock is unlikely to provide quick gains. But how would these numbers change if you are interested in holding Chevron Corporation CVX stock for a shorter or a longer time period? You can test the answer and many other combinations on the Trefis Machine Learning Engine