Latest news with #CVX
Business Insider
3 hours ago
- Business
- Business Insider
CVX, BP, SHEL: Oil Prices Rise 3% on U.S.-EU Trade Deal
Crude oil prices are up 3% on July 28 on news that the U.S. has reached a trade deal with the European Union (EU) and President Donald Trump announces a two-week deadline for Russia to reach a peace deal with Ukraine. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Brent crude oil, the international standard, is up 2.48% at $70.14 a barrel, while West Texas Intermediate (WTI) crude oil is at $66.84 a barrel, up 2.60%. Crude prices are also getting a lift on reports that the U.S. may extend its tariff pause with China, reducing concerns of potentially higher duties that would limit economic growth. The rise in crude prices is sending the stocks of oil majors such as Chevron (CVX), British Petroleum (BP), and Shell (SHEL) higher as well. America and the European Union struck a trade agreement that will impose a 15% import tariff on most EU goods, half the threatened rate. The deal averts a bigger trade war between allies that account for almost one-third of global trade and could have hurt oil demand. Truce and Deadline Also, senior U.S. and Chinese negotiators will meet in Stockholm, Sweden aiming to extend a truce keeping sharply higher tariffs at bay ahead of an Aug. 12 deadline. And President Trump said he is reducing the 50-day deadline he gave Russian President Vladimir Putin to reach a peace deal with Ukraine. Trump says he is reducing that deadline for Russia to 10 or 12 days. If no peace deal is reached, Russia will face massive 'secondary tariffs' on its trade partners, according to the president. Prior to July 28, oil prices had been at their lowest level in three weeks as global trade concerns weighed on energy markets. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) is set to meet on July 28 and expected to maintain its existing plans to raise oil output by 548,000 barrels per day starting in August. Analysts at JPMorgan Chase (JPM) say global oil demand rose by 600,000 barrels per day in July, while global oil stocks rose 1.6 million barrels per day. Is CVX Stock a Buy? The stock of Chevron has a consensus Moderate Buy rating among 15 Wall Street analysts. That rating is based on nine Buy, five Hold, and one Sell recommendations assigned in the last three months. The average CVX price target of $164.87 implies 6.48% upside from current levels.
Yahoo
2 days ago
- Business
- Yahoo
Why Yield-Focused Investors Favor Chevron (CVX) in the Dogs of the Dow Portfolio
Chevron Corporation (NYSE:CVX) is included among the 11 Dogs of the Dow Dividend Stocks to Buy Now. An aerial view of an oil rig at sea, the sun glinting off its structure. It is currently facing some company-specific challenges, including a complicated merger and operations in politically unstable regions. However, these issues are unlikely to affect its long-term prospects. Income-focused investors can generally feel confident investing in Chevron. Chevron Corporation (NYSE:CVX)'s integrated business model, covering everything from exploration and production to refining and chemicals, offers operational flexibility and acts as a natural hedge against fluctuations in energy prices, enhancing its resilience through market cycles. Unlike many competitors who chase volume growth, Chevron takes a disciplined approach, investing only in its highest-return projects, avoiding overexpansion during booms, and making strategic, value-adding acquisitions. This strategy, along with a strong balance sheet, establishes Chevron Corporation (NYSE:CVX) as a leading operator with the financial strength to endure downturns and seize growth opportunities. The company has been growing its dividends for 38 consecutive years and currently offers a quarterly dividend of $1.71 per share. As of July 26, the stock has a dividend yield of 4.42%. While we acknowledge the potential of CVX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None. Melden Sie sich an, um Ihr Portfolio aufzurufen.
Yahoo
2 days ago
- Business
- Yahoo
Why Yield-Focused Investors Favor Chevron (CVX) in the Dogs of the Dow Portfolio
Chevron Corporation (NYSE:CVX) is included among the 11 Dogs of the Dow Dividend Stocks to Buy Now. An aerial view of an oil rig at sea, the sun glinting off its structure. It is currently facing some company-specific challenges, including a complicated merger and operations in politically unstable regions. However, these issues are unlikely to affect its long-term prospects. Income-focused investors can generally feel confident investing in Chevron. Chevron Corporation (NYSE:CVX)'s integrated business model, covering everything from exploration and production to refining and chemicals, offers operational flexibility and acts as a natural hedge against fluctuations in energy prices, enhancing its resilience through market cycles. Unlike many competitors who chase volume growth, Chevron takes a disciplined approach, investing only in its highest-return projects, avoiding overexpansion during booms, and making strategic, value-adding acquisitions. This strategy, along with a strong balance sheet, establishes Chevron Corporation (NYSE:CVX) as a leading operator with the financial strength to endure downturns and seize growth opportunities. The company has been growing its dividends for 38 consecutive years and currently offers a quarterly dividend of $1.71 per share. As of July 26, the stock has a dividend yield of 4.42%. While we acknowledge the potential of CVX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None.
Yahoo
4 days ago
- Business
- Yahoo
Chevron: What Venezuelan oil would mean for US energy strategy
The US is reportedly shifting its strategy on oil strategy with Venezuela by allowing Chevron (CVX) to resume pumping oil in Venezuela after a prior permit was revoked. Yahoo Finance Senior Reporter Ines Ferré breaks down how this move could boost Chevron's cash flow and what it signals about US energy strategy. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. US reportedly making a shift from its strategy on Venezuela's oil sector, starting with Chevron, and Yahoo finances and NES Frey joins us now with details. Yeah, Josh. And this is quite a reversal from what the Trump administration had as a strategy back in May, when it revoked the right for Chevron to pump oil in Venezuela. It is now reversing that. And now, now Chevron will be able to pump oil in Venezuela. Analysts are saying that this is a positive for the company. This is a positive catalyst, even though the stock hasn't reacted much today. Year to date, the stock is up about 7%. But what analysts saying that this creates additional cash flow for the company? Chevron had been pumping about 200, more than 200,000 barrels per day out of Venezuela before that initial permit was revoked back in May. And this, of course, also comes on the heels of that arbitration ruling last week, last Friday, I believe, that lets Chevron gives Chevron the stake, the Guyana stake from the Hess acquisition. So, overall, a positive couple of weeks for Chevron. But this announcement from the Trump administration is really kind of highlighting the delicate balance that the Trump administration is, is doing with these sanctioned countries like Venezuela, and the need to keep energy prices low because this reversal comes on the heels of a deal between Caracas and Washington. Some Americans that have been detained in Venezuela, they will be brought back to the US. And Venezuela has agreed to that. And then also some Venezuelans, more than 200 Venezuelans in El Salvador, will be taken back to Venezuela. So, again, this kind of balancing act between keeping energy prices low, but also putting pressure on sanctioned countries like Venezuela, a similar situation with a country like Iran. And also with Trump wanting the war to end in Ukraine, and the type of pressure that is put on Russia as well. Bigger picture, Ines, looking at oil prices, are we still looking for lower prices by the end of the year, Ines? Look, we are looking at lower prices by the end of the year. I'm going to just pull up the chart just to show you where we're at right now. Part of the what analysts are talking about is some volatility that we could be seeing going into September. This is because those OPEC Plus increases that OPEC has announced, those will be absorbed in the market by then. The Trump, Trump's 50-day ultimatum for Russia to end the war with Ukraine, that expires at the beginning of September. And then you also have EU price caps on Russian oil that is set to go into effect at the beginning of September as well. So you may see some volatility in September. But the thesis overall hasn't really change, as with respect to supply in the market, that you will be seeing an increase of supply in the market. Of course, part of this has to do with those OPEC Plus barrels that are coming into the market. All right. Thank you, Ines. Appreciate it. Related Videos Trump's Fed visit: What to expect from FOMC next week GE Vernova earnings beat: How the energy stock is an AI play What the US–Japan deal signals for future global trade talks Ethereum: What's driving enthusiasm right now Sign in to access your portfolio
Business Insider
4 days ago
- Business
- Business Insider
CVX, XOM, SHEL: Oil Prices Recover on News of U.S. Trade Deals and Inventory Decline
Oil prices are recovering as the U.S. announces trade deals with countries such as Japan and reports emerge of a sharp decline in American crude inventories. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Brent crude oil, the international standard, is up 1% and trading at $69.06 a barrel. West Texas Intermediate (WTI) crude, the U.S. benchmark, is also up 1% at $65.91 per barrel. Analysts say that energy markets are now focused on U.S.-European Union trade talks and whether the two powers can reach a negotiated deal before U.S. President Donald Trump's August 1 tariff deadline. A recent trade deal with Japan lowers duties on automotive imports and spares the Asian nation from new levies in exchange for a $550 billion package of investments and loans sent to America. Still, uncertainty over U.S.-China trade negotiations and the ongoing war between Ukraine and Russia are limiting further upside in oil prices, say some analysts. The rise in crude prices is helping to lift the stocks of oil majors such as Chevron (CVX), ExxonMobil (XOM), and Shell (SHEL). Inventories Fall In recent months, WTI crude oil has been range-bound between $60 and $70 a barrel. On the supply side, the U.S. Energy Information Administration has reported that U.S. crude oil inventories fell last week by 3.2 million barrels to a total of 419 million barrels. That decline was greater than the 1.6-million-barrel drawdown expected among analysts. Separately, foreign oil tankers were temporarily prevented from loading at Russia's main Black Sea ports due to new regulations, effectively halting exports from Kazakhstan. And the U.S. government has reiterated that it is considering sanctions on Russian oil to help end the ongoing war in Ukraine. Is CVX Stock a Buy? The stock of Chevron has a consensus Moderate Buy rating among 15 Wall Street analysts. That rating is based on nine Buy, five Hold, and one Sell recommendations assigned in the last three months. The average CVX price target of $164.00 implies 9.30% upside from current levels.
