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Chevron is the last U.S. oil major still operating in Venezuela, having maintained a continuous presence in the country since the early 20th century.
Chevron (CVX) in focus amid Venezuela’s regime change: see Quant ratings, analyst buy calls, and $172 price target upside—get the latest stock outlook now.
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Why Chevron stock popped today
Chevron reported $12.8 billion in net profit over the last 12 months, and generated even more positive free cash flow -- $15.4 billion. As a result, while Chevron's stock trades for a hefty 24.5 times earnings, it is cheaper when valued on FCF -- only 20.4 times.
Chevron stock and other oil companies were soaring early Monday even as crude prices were only up around 1% following the surprise U.S. operation to capture Venezuelan President Nicolás Maduro.
Chevron Corporation is upgraded to Buy, driven by its unique first-mover advantage in Venezuela’s oil sector. Click here to read an analysis of CVX stock now.
Chevron and ConocoPhillips shares jump after Maduro’s ouster raises prospects of a Venezuelan oil opening, though political risks cloud investment plans.
The Dow Jones Industrial Average rose to a fresh intraday high in late morning trading on Monday, with shares of oil producer Chevron Corp. posting the biggest gains in the stock-market index. The Dow rose to a session high of 49,
Novo Nordisk shares rose 5.19% to $55.11, with an intraday high of $55.42 and a low of $53.36. Its 52-week range is $43.08 to $93.80. The company’s Wegovy weight loss pill, now available in U.S. pharmacies,
The second-largest U.S. oil company, which kept pumping oil in the country after others left, could find it relatively easy to expand its operations if the political conditions there improve.