Chevron is looking to become a very different energy company, the company’s CEO told Jim Cramer recently.
In an “Executive Decision” segment on a recent ‘Mad Money” episode, Jim Cramer sat down with Mike Wirth, chairman and CEO of Chevron (CVX) , on the heels of the company’s investor day where they laid out Chevron’s sustainability mission and goals. (Find out more about how you can profit from investment ideas on Real Money here.)
Wirth said that Chevron is a very different energy company today than when he joined 40 years ago. But Chevron is listening to shareholders that are demanding more environmental responsibility and increases in sustainability. That’s why Chevron has tripled its commitment to invest in faster-growing, lower-carbon energy sources.
You won’t see Chevron investing in wind or solar, however, because those areas are maturing. Instead, Chevron is investing in green hydrogen and green natural gas from dairies and landfills. The company has already partnered in a utility-scale green hydrogen project in Utah that will supply electricity to California, for example.
Hot Stocks To Own Right Now: PartnerRe Ltd.(PRE)
PartnerRe Ltd., through its subsidiaries, provides reinsurance and certain specialty insurance services worldwide. Its Non-life segment reinsures agricultural yield and price/revenue risks related to flood, drought, hail, and disease related to crops, livestock, and aquaculture; offers specialized reinsurance and insurance protection for airline, general aviation, and space business; provides third party liability, employers liability, workers compensation, and personal accident coverages; offers property catastrophe reinsurance protection against windstorm, earthquake, tornado, tropical cyclone, flood, or by any other natural hazard; and provides credit reinsurance to mortgage guaranty insurers and commercial credit insurers. It also offers reinsurance and insurance coverage for the onshore oil and gas industry, mining, power generation, and pharmaceutical operations; reinsurance and insurance for engineering projects; reinsurance and insurance protection and technical services relating to marine hull, cargo, transit, and offshore oil and gas operations; reinsurance coverages for third party liability and property damage risks; property and casualty reinsurance coverages; reinsurance coverage to insurers for property damage or business interruption losses resulting from fires, catastrophes, and other perils; and specialized reinsurance and insurance protection primarily for non-U.S. casualty business. The companys Life and Health segment provides reinsurance coverage to primary life insurers with respect to individual and group health risks; employer sponsored pension schemes and primary life insurers; and primary life insurers and pension funds to protect against individual and group mortality and disability risks. The company provides its products through brokers and direct relationships with insurance companies. PartnerRe Ltd. was founded in 1993 and is based in Pembroke, Bermuda.
Advisors’ Opinion:
- [By Ethan Ryder]
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- [By Stephan Byrd]
Bailard Inc. lessened its stake in shares of Huntsman Co. (NYSE:HUN) by 85.2% during the fourth quarter, HoldingsChannel reports. The firm owned 14,900 shares of the basic materials company’s stock after selling 85,956 shares during the period. Bailard Inc.’s holdings in Huntsman were worth $287,000 as of its most recent SEC filing.
Hot Stocks To Own Right Now: Westport Innovations Inc(WPRT)
Westport Fuel Systems Inc (Westport), formerly Westport Innovations Inc, is a Canada-based provider of low-emission engine and fuel system technologies utilizing gaseous fuels. It operates through the Westport Operations segment. The Westport Operations segment designs, manufactures and sells compressed natural gas, liquefied natural gas, and liquefied petroleum gas components and systems to original equipment manufacturers and to aftermarket customers. Westport’s subsidiaries design and manufacture a range of components, including pressure regulators, injectors, electronic control units, valves and filters; sell monofuel, bi-fuel and dual-fuel diesel blend conversion kits, and also offer full engine management systems and solutions. The Westport Operations segment has a customer base in Europe and North America, as well as in Asia, South America, and Africa. Westport supports customers with natural gas and propane vehicle conversions through the Ford QVM program for Ford vehicles. Advisors’ Opinion:
- [By Peter Graham]
Small cap alternative fuel systems and component stock Westport Fuel Systems (NASDAQ: WPRT) just jumped almost 40% in morning trading after announcing that its Chinese joint venture had received certification from the Ministry of Ecology and Environment of China (MEE) for its 12-liter engine equipped with the HPDI 2.0TM fuel system (WP12HPDI) – meaning the Company is positioned to sell to truck original equipment manufacturers (OEMs) in China.
- [By Rich Smith]
Westport Fuel Systems (NASDAQ:WPRT) shareholders, who’ve watched their stock lose 45% of its value over the past year, got even more bad news today: Chief Financial Officer Michael Willis has resigned, and Westport doesn’t have a ready replacement.
