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Wednesday, February 6, 2013
Investopedia: Chevron Deserves A Better Valuation
Like other energy majors, Chevron (NYSE:CVX)
is trapped in a Wall Street catch-22. Analysts and investors are quick
to complain about the low expected production growth rates in the
sector, but they complain even louder when the companies announce higher
capex budgets to exploit and develop their sizable reserves. Even so,
Chevron looks too cheap when compared to peers like Exxon Mobil (NYSE:XOM) and ConocoPhillips (NYSE:COP).
Sizable investments have pressured recent returns, but the long-term
growth and value-creation potential at Chevron looks better than just
worthwhile.
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