I would probably taking profits on all these oil stocks after the past two weeks. The selling panic may have set some bottoms, but are they the final bottom ?
Chevron CEO Sees Upside To Commodity Prices This Year -- Market Talk 9:50 am ET January 17, 2023 (Dow Jones) Print 1449 GMT - An expected rebound in Chinese oil demand as the country's economy returns to full strength makes the case for some upside in commodity prices this year, Chevron Chairman and CEO Mike Wirth says speaking on Bloomberg TV in Davos. Wirth says supply and demand are currently finely balanced, with supply struggling to keep up even before Ukraine's war began. "We have markets now that are constrained by rules on which countries can buy from other countries [and] what prices things can transact," he says. "There's a lot of strain on these markets and it wouldn't take a big surge from China to really start to push against some of those constraints." ([email protected]) (END) Dow Jones Newswires January 17, 2023 09:50 ET (14:50 GMT) Copyright (c) 2023 Dow Jones & Company, Inc. edit: looks like right side of a cup and handle to me. anybody? beuler?
For those interested. Chevron Sets $75 Billion Stock Repurchase Program, Dividend Increase Chevron Corp. on Wednesday announced a $75 billion stock repurchase program and an increase to its quarterly dividend. The company's board of directors authorized the repurchase of the company's shares in an aggregate amount of $75 billion. The authorization takes effect on April 1 and replaces the previous repurchase program of $25 billion from January 2019, the company said. Chevron's board also declared a quarterly dividend of $1.51 per share, an increase of 6%. The new payout, equal to $6.04 a year, represents an annual yield of roughly 3.4% based on Wednesday's closing price of $179.08. The dividend is payable on March 10 to shareholders of record by the close of business on Feb. 16. (END) Dow Jones Newswires 01-25-23 1659ET
