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EOG - Chevron Increases Dividend Will Resume Repurchases Later
EOG Resources Inc.
Among its US and international upstream and downstream operations, Chevron’s especially favorable Permian position continues to be positive for investors.
The company just increased its dividend to $5.36/share for a yield of 5.2%; it plans to start share repurchases once it can sustain a multi-year program of doing so.
Chevron’s 2020 capex cutbacks in the Permian, a short-cycle basin, led to lower production there warranted by low prices and 2020 oil oversupply. Post-Uri this may reverse.