Chevron CorpCVX
▲ PositiveGeopoliticsrelevance
Rising oil prices due to Iran pressure and Strait of Hormuz shipping constraints benefit Chevron's upstream operations.
Impact on stocks 1
Energy
Chevron CorpChevron shares edged higher Friday as Brent crude held near $94 per barrel amid shipping constraints in the Strait of Hormuz and increased U.S. economic pressure on Iran. The stock inched less than 0.1% higher to $205.84, with oil heading for a second straight weekly gain. Chevron reported second-quarter earnings of $12.1 billion as worldwide production jumped 20%, while operating cash flow excluding working-capital swings reached $19.7 billion and adjusted free cash flow climbed to $15.4 billion. The stock trades 29.74% above its GF Value estimate of $158.65, a premium that could evaporate if diplomatic efforts cool the oil market.
Chevron CorpRising oil prices due to Iran pressure and Strait of Hormuz shipping constraints benefit Chevron's upstream operations.