XOM - Chevron: Well Positioned For A Race Against Time (EVs)
- My long-time followers know I believe that Chevron has been - and still is - the highest quality international O&G major company in the world.
- However, that fact alone hasn't meant that the company has been a good investment in a sector that has been an unmitigated disaster over the past decade. It hasn't been.
- But CVX's Q3 delivered the highest FCF in its history and the 4.6% yield is attractive. But investors should be clear-eyed: Investing in oil is a race against time (i.e., EVs).
- That said, in the short- to mid-term, I expect Chevron to deliver strong free cash flow, dividend growth, and significant stock buybacks.
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Chevron: Well Positioned For A Race Against Time (EVs)