FightingIrish33
Sep 24, 11:53 AM
$CVX On September 8, at the Barclays energy conference in New York, CFO Eimear Bonner summed up Chevron's year in six words: "bigger, better and stronger than we've ever been." The stock sat within two dollars of its 52-week high of
$214.71.
The case behind that line was a harvest case. Three billion dollars of structural cost reductions delivered six months early, 70% of it from efficiency rather than headcount. Hess synergies of
$1.5 billion, also early. Chevron retired more than
$8 billion of debt in the quarter, cutting net debt to cash flow from operations to 0.6x, and left the repurchase rate where it was.
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