Current CVX Stock Info

Chevron Corporation (ticker: CVX), the world’s third largest E&P by market capitalization, is selling its 50% shareholding in Caltex Australia Limited. The deal is reportedly worth about US$3.6 billion, according to the Sydney Morning Times Herald, and is the biggest block trade in Australia’s history. The deal was solely underwritten by Goldman Sachs and is expected to “be sold to a broad range of Australian and global equity market institutional investors,” says the CVX release issued on March 27, 2015.

Caltex supplies 33% of all Austr...

Analyst Commentary

Wells Fargo Securities (3.27.15)

The sale of a non-core fuel retail business in Australia is consistent with Chevron's stated goals in our view. This is a good asset sale as it is quickly and easily accomplished. There is no negative impact on its oil and gas production volumes or reserves. Retail assets have more than maintained their value even as oil and gas asset valuations have taken a few steps back. The only fly in the ointment is that the Australian dollar is at a six-year low relative to the $US.  


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