Chevron (CVX.US) has announced a significant workforce reduction, affecting approximately 15-20% of its employees, which translates to around 6,000-8,000 jobs. According to company representatives, this move is part of a cost-cutting strategy aimed at improving cash flow generation rather than a sign of financial distress.
Over the past two years, Chevron has focused heavily on enhancing cash returns to shareholders. The company has conducted $30 billion worth of share buybacks, reducing its outstanding shares by approximately 10%. Additionally, since 2020, Chevron has accelerated its dividend growth rate, and with the current quarterly dividend of $1.71 per share, the implied dividend yield stands at 4.4%.
Chevron's stock price declined slightly by around 1.6% following the announcement. As a result, the price approached the $155 support zone. A trendline connecting previous local lows suggests stronger support at $151, further reinforced by the upper boundary of the October 2024 consolidation range. Source: xStation
US OPEN: Market extends decline at the end of the week
Constellation Energy: Mixed Results for Q3 2025
More Expensive Chips, More Expensive Devices – TSMC is Changing the Rules!
Hensoldt Rises Thanks to Record Backlog and Growth Plans!
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.
