NYSE:CVX

Chevron Texaco (CVX)

207.10
+2.89 (1.42%)
as of Oct 1, 2026, 8:00:00 pm Market Open.
224 watching
0
TOP PICK

Decent dividend yield. Best held in an RRSP to get the best effect of the dividend. It has been following one of his structural prices at 1.5 times book value and has been for a long time. The slope of the growth of the book value is running at 12-13%. You get this plus the yield. Great balance sheet and earnings look fine. Put it away and forget about it.

TOP PICK

They pre-announced last week so it drove the stock down. Model price $171.37, 45.64% upside. 3.4% dividend yield.

TOP PICK

Coming out of a period of spending, building massive energy projects, especially in Australia. Have a very good history of allocating capital well. Production growth will really ramp up in 2014. Doesn’t think prospects for next year are priced into the stock.

TOP PICK

As economy has been getting better, oil has been going up. Oil stocks have been in a mini bear market, but the large ones have huge value, he has a $177.48 model price. The market will recognize the value in this stock.

TOP PICK

$167.34, 43% upside. Yield of 3.42%. Buy at $113.24 is his prediction of a pull back level.

TOP PICK

(A Top Pick May 18/12. Up 23.9%.) Expects another 30% upside from here. His model price is $174.20. Dividend yield of 3.2%.

TOP PICK

Model price $164.62, 42% upside. 3.1% yield. Great value, EBV lines go straight up.

DON'T BUY
One of the better super majors but that’s not exactly the biggest compliment you could pay. Super majors have very little growth ahead of them. Has had an OK run, hard to see it growing and there is a very negative background for oil and gas.
TOP PICK
47% upside to his model price. Fundamentals have not moved down that much but stock has. Energy shows up as a pretty good value play.
COMMENT
Like similar companies, had a lot of weakness in Aug-Sept/11 because of the euro zone crisis. Now at all-time highs over the last year or so, primarily because of decent growth in production.
TOP PICK
His model price is $150.61, a 50% upside. There has been a pullback in all of the oils but the integrateds have pulled back less. This is at a nice structural level. You get a dividend growth and balance sheet growth on this one.
STRONG BUY
Really likes the name. 70% oil weighted and he is bullish on oil but not gas. They are selling Brent, which is a $10 premium.
COMMENT
Have improved reserve replacement considerably in the last year or so and are claiming above 100%, which is pretty good. Well positioned for Liquefied Natural Gas LNG with some giant projects off the shore of northwestern Australia. Also some tremendous projects in the deep water gulf of Mexico.
COMMENT
Looking at big integrateds, there are some good quality plays in Canada so he doesn’t focus on this. Has so many issues that may impact so prefers Canadian that he can concentrate on.
BUY
Of all the US majors this one has the most potential. Went from showing no growth and poor returns on capital to having one of the most focused capital programs in showing growth as well as reserve addition.
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