Founded in 1879 as the Pacific Coast Oil Company, the Chevron Corporation can boast being one of the oldest gas and oil companies in the United States. In fact, the company came about almost by accident when a group of explorers looking for gold in the California Mountains found oil instead. The story goes that the group where so adept at finding oil in places where others had already failed that their enterprise soon flourished.
Chevron has always been a global enterprise and as far back as World War 2, the company was involved in the supply of aircraft fuel to the allies. From open drilling sites overseas in places such as Latin America, Europe and the Middle East to the acquisition of other companies including Texaco in 2001, Chevron has evolved to become the USA’s second-largest energy company.
- From oils and other lubricants for the retail sector to the production of crude oil and natural gas, Chevron is a true market leader. The famed company has invested heavily in the latest methods for exploration and is also involved in new and innovative energy extraction methods around the world. The company also markets products such as aviation fuels and coolants for the heavy and light industry.
- The company publically trades on the New York Stock Exchange, Dow Jones Industrial Average and the S&P 500 and is one of the most popularly traded energy stocks.
- With 60,000 employees in over 30 countries, it has total assets of $266 billion and in 2016 returned annual revenues of a staggering $100 billion.
- On the downside, CVX is highly susceptible to government interventions, regulations, environmental issues, and civil instabilities.
Like many stocks in the market, Chevron Corporation can be a volatile stock to trade. Traders should therefore be prudent to put the latest technical management tools into place.