“Chevron Sent Shareholders $50 Billion Over the Last 2 Years (and There's a Lot More to Come)”
How much was spent on exploration/building future reserves?
11 replies (most recent on top)
When you're no longer growing your company, $50 billion to investors means you're quietly liquidating. To answer OP's question, wasn't upstream CAPEX around $35 billion the last two years?
LS and the exploration folks have really struggled…lotta excuses and very few barrels….
that's why most investors and financial institutions love us
Every du----s here thinking buy backs are great, sure they are in small amounts over time but we haven't done it in moderation. We have spent almost 75B inflating ourselves. As said before. Chevron is a place to park cash for rich people who know they aren't going to do anything other than sacrifice themselves to the dividend and maintain production.
Now there you go again using that e-word exploration. We’re way to capital disciplined for such boondoggles.
This all CVX has left to offer. No growth mature sunset industry returning cash to shareholders.
Shareholders would demolish the stock if we ever waivered on the dividend as most hold it only for the dividend. Buybacks are just a way of saying we have to much cash flow and no other ideas on how to use it. Exploration spending has shown to be a black hole the last couple decades so management minimizes that "cost".
I am surprised that this basic stock market principle is not understood. You either have a share that is going to grow over time through new products and innovation [most tech and manufacturing, health and financial institutions], or if you are in the business of commodity, you encourage investors to buy your stock in return of dividend, it is that simple. Why someone should invest in a commodity business if there is no clear reward compared to all these tech industries? With dividend the investor is shielded from volatility, it is not a high reward investment but certainly safer.
Wish someone would mention this during these townhalls
What is the argument from leadership in defense of all the dividends and buyback? If we hadn't done that would our stock have dipped too low? Would it have hurt the company more? I really just don't understand why spend so much money in a way that doesn't help the company's future
Very shortsighted indeed.