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Mark R. Hake, CFA

Chevron's Q2 Free Cash Flow Rises - CVX Stock Looks Cheap

Chevron CVX Barchart Hess CVC

Chevron Corp (CVX) reported a 15% increase in free cash flow (FCF) quarter-over-quarter (Q/Q), and following the closing of the Hess acquisition, its FCF outlook is now stronger. Assuming Chevron ups its dividend by 4%, CVX could be at least 10% undervalued.

CVX closed at $151.40 on Friday, Aug. 1, after releasing its Q2 results in the morning. This is well off its high of $168.51 on April 1.

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