Chevron Just Revealed a 50% Spending Surge in Exploration Spending for Next Year. Here's What It Means for CVX Stock.

Key Points A significant increase in exploration budget means Chevron is focusing on meeting its long-term growth targets. The company's organically proved reserves have dipped to one of the lowest levels in recent years. At its current payout level, the company is well-positioned to sustain and grow its dividend. 10 stocks we like better than Chevron › Integrated oil and gas giant Chevron (NYSE:CVX) revealed plans to increase capital spending on exploration by more than 50% next year. For investors, a strategy built around high-quality assets and backed by a company with 39 consecutive years of dividend increases is hard to overlook. Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger.