Chevron Stock Price Drivers

Stock Price Drivers Crude Oil Prices Crude oil prices are the main revenue driver in the upstream segment of integrated oil and gas companies. The prices of crude oil benchmarks are used as reference points against which the price of oil extracted is calculated based on differences in quality. The two most widely-used benchmarks for crude oil are Brent crude oil, which is produced in the North Sea oilfields, and West Texas Intermediate, which is produced in North America. Historical data shows that Chevron's EPS has a high correlation of 0.92 with Brent oil prices. EPS vs Crude Oil Price Chevron EPS -Brent prices $5 $140 $4 $120 $4 $100 $3 $3 $80 $2 $60 $2 $40 $1 $20 $1 $0 Mar-09 Sep-09 Mar-10 Sep-10 Mar-11 Sep-11 Mar-12 Sep-12 Mar-13 $0 Note: Brent crude oil price is the global benchmark for crude oil. 11 1111H HH SOURCES: BIDNESS Company Data, SEC filings, Bloomberg Professional Services etc. DISCLAIMER: Bidness Etc(TM) and related marks are owned by Bidness Etc. Any other trademarks appearing on this website are the property of their respective owners, and are not used to indicate the origin of goods or services offered or provided by Bidness Etc herein or to suggest approval for or affiliation with Bidness Etc. Chevron EPS Brent Crude Oll Price (per barrel)