Chevron: Late Buybacks


  • Chevron Corporation officially announced a large increase in the capital return program with a $75 billion share buyback.
  • The energy giant had already announced plans to spend up to $15 billion annually on share buybacks, despite the stock trading at record prices.
  • Chevron Corporation stock is expensive, with earnings likely to fall in the years ahead and management signaling a desire to blindly repurchase shares here.

Stock Buybacks theme with US shipping port


After the market close, Chevron Corporation (NYSE:CVX) announced a major increase to their capital return program. The energy giant probably shocked the market with the size and unfortunately the timing of a new stock buyback plan. My

Data by YCharts

Data by YCharts

Cash flow slide

Chevron Nov. Presentation

Earnings estimates table

Seeking Alpha

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