XOM - Chevron Could Deliver A 20%+ Total Return This Year
- Chevron currently yields 5% and the stock closed Friday at $103.
- Yet the last time WTI was at the current level of $63/bbl (last January), Chevron was trading at $121.
- That was before the addition of ~215,000 boe/d of Noble production, before taking an estimated $2.5 billion out of op-ex, and before implementing an even more disciplined cap-ex plan.
- Add it all up, and CVX should very easily trade back up to $121 this year (and I think significantly above that level) and deliver a 20%+ total return for investors.
- This is likely one reason Buffet's Berkshire Hathaway holds 48.5 million shares of CVX stock.
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Chevron Could Deliver A 20%+ Total Return This Year