The Financial Valuation of Chevron Corporation

Chevron Corporation (CVX) is one of the world’s largest energy companies, which operates across the entire Oil and Gas industry, including exploration and production as an Upstream operation and refining and marketing as a Downstream operation. Chevron has a strong presence worldwide, with operations in North America, South America, Africa, Asia, and Europe, which includes more than 180 countries, where the US, in terms of production, represents 39.4% of the net oil-equivalent production in 2022. Its global presence, sustained by its competitive advantages, is challenged by its worldwide competitors, industry factors, and the economic environment. It is essential to understand the impact of such changes on the industry and the Company to accurately assess the intrinsic value of Chevron and its future positioning. To provide investors with helpful information, comparing the intrinsic value resulting from three valuation models with the Company's market share price as of December 31st, 2022, is essential