Advertisement
New Zealand markets closed
  • NZX 50

    12,425.58
    +115.67 (+0.94%)
     
  • NZD/USD

    0.5962
    -0.0020 (-0.33%)
     
  • ALL ORDS

    8,208.60
    +42.20 (+0.52%)
     
  • OIL

    79.95
    +0.17 (+0.21%)
     
  • GOLD

    2,410.00
    +15.30 (+0.64%)
     

Chevron is Paying $7.6 Billion to Bulk Up its Oil Business. Time to Buy This Top Warren Buffett Stock?

Chevron is Paying $7.6 Billion to Bulk Up its Oil Business. Time to Buy This Top Warren Buffett Stock?

Chevron (NYSE: CVX) is making a big splash. The oil giant has agreed to acquire PDC Energy (NASDAQ: PDCE) in an all-stock deal valuing the oil and gas producer at $7.6 billion, including the assumption of debt. The company expects the highly complementary transaction will be accretive to all its key financial metrics, including adding $1 billion to its annual free cash flow.