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Chevron Corporation is an American multinational oil and gas corporation. It was founded on September 6, 1879, and is incorporated in California. It is one of the world's largest companies; it descends from John D. Rockfeller's Standard Oil.

Chevron was founded in 1879 as the Pacific coast oil company. In 1900, it merged with the Texas company, which was founded in 1895. It changed its name to Chevron in 1984.

For over 140 years, Chevron, also known as Chevron Corp., has been a significant part of America's corporate landscape. One of the company's key strategic assets is its long history. This California-based business has been producing large profits for its shareholders. Chevron's net income was $18.5 billion in 2018.

Symbol: CVX.

Type: Public.

Founded: September 6, 1879.

Founded by: John D. Rockfeller.

Headquarters: San Ramon, California, United States.

Traded as: NYSE: CVX.

S&P 500 component.

Industry: Oil and gas.

Key people: Michael K. Wirth (Chairman and CEO).

Jay Pryor (vice president).

Revenue: US$ 168.6 billion (2021).

Net income: US$ 11.7 billion (2021).

Total assets: US$ 338.4 billion (2021).

Total equity: US$ 188.4 billion (2021).

Websites: chevron.com.

Chevron Corporation (Chevron) is a worldwide integrated energy company. The company is structured into two main divisions: upstream and downstream. The upstream segment of Chevron primarily deals with the paraffin, shale gas, coal bed methane and crude oil. The downstream segment of Chevron focuses on refining crude oil into gasoline, diesel fuel, jet fuel (aviation), and lubricants; manufacturing and selling fuel and lubricants to retail consumers through branded outlets; and is also involved in the mining and refining of tungsten. The company operates in every continent, with its activities ranging from conventional and non-conventional gas and oil production to refining and marketing. Geographically, the company operates primarily in the US, Latin America (mainly Brazil and Venezuela), Asia (mainly China, Indonesia, and the Philippines), Africa, and Europe.

In addition to energy businesses, Chevron has growing interests in biofuels, geothermal and solar energy.

Income:

Net Income: Chevron's net income soared 26% year over year, reaching $11.7 billion in 2021. The company's annual sales also increased by 48% as economic activity approached pre-pandemic levels.

Earnings:

Chevron's earnings from continuing operations were $1.6 billion in 2021, compared with $1.3 billion in 2020, which reflected higher profit margins on refined product sales. Foreign currency effects decreased net income by $1.2 billion. Adjusted earnings improved to $1.7 billion from continuing operations, $0.2 billion above the second quarter. A larger benefit from pension settlements was partially offset by unfavorable tax items, foreign exchange effects, and restructuring costs.

Growth:

The company emphasizes long-term growth initiatives that go beyond its conventional oil and gas production. Chevron's existing development initiatives include a group of unfinished projects that should all be completed by the end of next year. Chevron is expanding into the emerging low-carbon energy market, aiming at the geothermal energy market. Their future long-term strategy intends to take advantage of the projected demand for low-carbon fuels by increasing Chevron's renewable natural gas production. They are extending their investment to power generation and carbon capture opportunities as well. Chevron is well-positioned to accomplish all their long-term initiatives thanks to its impressive cash reserves and healthy balance sheet.

Chevron outperforms peers with a future return on equity of 18.6% (versus the peer average of -4.9%). CVX outperformed the industry in the past year by rising 14.2% compared to an increase of 10.8%. Over 3 years, it has underperformed, gaining 31.2% compared to an increase of 33.8%.

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