The shares of Chevron Corporation (CVX) saw a noteworthy uptick of 11% in extended market trading on Fridays session. The stock extended gains to Mionday's premarket session surging 7% as it sets to break the 50% Fib level- eyeing the $200 resistant zone.
In recent news, U.S. oil companies' shares rose in premarket trading on Monday as investors bet that President Donald Trump's move against Venezuela's leadership would allow American firms greater access to the world's largest oil reserves.
Shares of Chevron (CVX.N), the only U.S. major currently operating in Venezuela's oil fields, climbed 7.3%.
The gains came after Trump said the U.S. needed "total access" to Venezuela's vast oil reserves following the arrest of President Nicolas Maduro, sharpening expectations that Washington could ease restrictions on Venezuelan crude exports.
Analyst Summary
According to 16 analysts, the average rating for CVX stock is "Buy." The 12-month stock price target is $171.94, which is an increase of 10.29% from the latest price.
About CVX
Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment engages in the exploration, development, production, and transportation of crude oil and natural gas; liquefaction, transportation, and regasification of liquefied natural gas; transporting crude oil through pipelines; processing, transporting, storage, and marketing of natural gas.
In recent news, U.S. oil companies' shares rose in premarket trading on Monday as investors bet that President Donald Trump's move against Venezuela's leadership would allow American firms greater access to the world's largest oil reserves.
Shares of Chevron (CVX.N), the only U.S. major currently operating in Venezuela's oil fields, climbed 7.3%.
The gains came after Trump said the U.S. needed "total access" to Venezuela's vast oil reserves following the arrest of President Nicolas Maduro, sharpening expectations that Washington could ease restrictions on Venezuelan crude exports.
Analyst Summary
According to 16 analysts, the average rating for CVX stock is "Buy." The 12-month stock price target is $171.94, which is an increase of 10.29% from the latest price.
About CVX
Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment engages in the exploration, development, production, and transportation of crude oil and natural gas; liquefaction, transportation, and regasification of liquefied natural gas; transporting crude oil through pipelines; processing, transporting, storage, and marketing of natural gas.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.