$CVX

125 stories mentioning CVX

Every FINWIRES story that references CVX, newest first.

Sector Update: Energy Stocks Decline Late Afternoon

Energy stocks were lower late Wednesday afternoon, with the NYSE Energy Sector Index falling 1.4% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 1.1%.The Philadelphia Oil Service Sector Index slumped 2.9%, and the Dow Jones US Utilities Index shed 0.6%.Front-month West Texas Intermediate crude oil fell 5.3% to $88.94 a barrel, and the global benchmark Brent crude contract dropped 5.1% to $94.52 a barrel. Henry Hub natural gas futures rose 5% to $3.04 per 1 million BTU.In sector news, the memorandum of understanding being negotiated between Tehran and Washington will call for US forces to withdraw from Iran's vicinity and lift the blockade of Iranian ports in return for reopening the Strait of Hormuz to pre-war levels, CNN reported, citing Iranian state television. The US denied claims that maritime traffic through the Strait of Hormuz could return to normal within a month of the Iran deal, Bloomberg reported. President Donald Trump on Wednesday expressed confidence that the US would be able to reach a deal to end the conflict, but he is not yet satisfied with the terms, CNN reported.In corporate news, Kosmos Energy (KOS) shares fell 6% after Mizuho downgraded the stock to underperform from neutral.TotalEnergies (TTE) is facing a dispute with Mozambique over about $2 billion in costs tied to delays at its liquefied natural gas project in the country, Bloomberg reported. TotalEnergies shares fell 3.6%.Chevron (CVX) shareholders have rejected a proposal put forth at the company's annual general meeting that would have required appointing an independent board chair separate from the chief executive officer, Reuters reported, citing preliminary voting results. Chevron shares were down 1.4%.DTE Energy (DTE) added 0.3% after the firm said it will invest $1.6 billion to develop Michigan-made battery energy storage systems in collaboration with LG Energy Solution Vertech.

$CVX$DTE$KOS$TTE

Sectors18d ago

Sector Update: Energy Stocks Retreat in Afternoon Trading

Energy stocks declined Wednesday afternoon, with the NYSE Energy Sector Index falling 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) decreasing 0.8%.The Philadelphia Oil Service Sector Index slumped 2.7%, and the Dow Jones US Utilities Index shed 0.5%.In sector news, the memorandum of understanding being negotiated between Tehran and Washington will call for US forces to withdraw from Iran's vicinity and lift the blockade of Iranian ports in return for reopening the Strait of Hormuz to pre-war levels, CNN reported, citing Iranian state television. The US denied claims that maritime traffic through the Strait of Hormuz could return to normal within a month of the Iran deal, Bloomberg reported.Front-month West Texas Intermediate crude oil was falling 4.8% to $89.40 a barrel, and the global benchmark Brent crude contract was dropping 4.5% to $95.14 a barrel. Henry Hub natural gas futures rose 4.4% to $3.02 per 1 million BTU.In corporate news, TotalEnergies (TTE) is facing a dispute with Mozambique over about $2 billion in costs tied to delays at its liquefied natural gas project in the country, Bloomberg reported. TotalEnergies shares fell 2.5%.Chevron (CVX) shareholders have rejected a proposal put forth at the company's annual general meeting that would have required appointing an independent board chair separate from the chief executive officer, Reuters reported, citing preliminary voting results. Chevron shares were down 0.9%.DTE Energy (DTE) shares added 0.3% after it said Wednesday it will invest $1.6 billion to develop Michigan-made battery energy storage systems statewide in collaboration with LG Energy Solution Vertech.

$CVX$DTE$TTE

Sectors18d ago

Sector Update: Energy

$CVX

Wire18d ago

Market Chatter: Chevron Shareholders Reject Proposal for Appointing Independent Board Chair

Chevron (CVX) shareholders have rejected a proposal put forth at the company's annual general meeting that would have required appointing an independent board chair separate from the chief executive officer, Reuters reported Wednesday, citing preliminary voting results.Shareholders approved the appointment of all 12 nominees to the board and rejected two other shareholder proposals, the report stated.All voting results at the meeting were in line with what the company has recommended, according to the report.Chevron did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $181.36, Change: $-3.35, Percent Change: -1.81%

$CVX

Commodities19d ago

Market Chatter: Exxon Mobil, ConocoPhillips Seek Safeguards For Return to Venezuela After Nearly Two Decades

US energy giants Exxon Mobil (XOM) and ConocoPhillips (COP) are mulling a return to Venezuela after nearly two decades, pushing for contractual safeguards and the recovery of billions owed since their exit, Bloomberg reported citing people familiar with the matter.Both companies have reportedly held discussions with the government of President Delcy Rodriguez, who has led the country since the US arrest of her predecessor Nicolas Maduro, to tap the South American nation's massive oil reserves.While they said much has yet to be done regarding production sharing agreements and other matters, they were encouraged by the willingness of Rodriguez and her administration to negotiate different aspects of the contracts.The companies are reportedly looking for ways to structure their investments to prevent a repeat of losses they suffered when their assets were previously nationalized.This includes the use of stability clauses, which prevent successive governments from unilaterally changing contracts, and requiring all disputes to be settled via international arbitration instead of local courts."Bringing back Exxon Mobil and ConocoPhillips is a top priority for the government, and they're putting a lot of resources and effort behind it," said Carlos Bellorin, an executive vice president at Welligence Energy Analytics, told Bloomberg.He said the deal needs to be attractive to persuade these companies to invest.Chevron (CVX), another major US oil and gas company, has remained present in Venezuela throughout the nationalizations by former President Hugo Chavez. That positions it well now to ramp up output, with crude hovering around $100 per barrel.Neither ExxonMobil nor ConocoPhillips immediately responded to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$COP$CVX$XOM

Equities19d ago

Mizuho Securities Adjusts Price Target on Chevron to $230 From $225, Maintains Outperform Rating

Chevron (CVX) has an average rating of overweight and mean price target of $215.18, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$CVX

Asia Markets20d ago

Progress on Potential Middle East Peace Agreement Drives US Equity Futures Higher Pre-Bell

US equity futures were edging higher pre-bell Tuesday as traders monitored the US-Iran situation for a potential peace agreement to end the Middle East war.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.7%, and Nasdaq futures were 1.1% higher.US Secretary of State Marco Rubio said that negotiations could "take a few days." Both sides said they have made progress on a potential memorandum of understanding that would end the war and provide 60 days for negotiators to reach a final deal.The framework of the memorandum is focused on halting the war and the US naval blockade in exchange for Iran ensuring safe transit in the Strait of Hormuz, according to Iranian foreign ministry spokesperson Esmaeil Baghaei.Traders observed the latest round of earnings, with AutoZone (AZO) reporting an increase in fiscal Q3 net income and net sales.Oil prices were mixed, with front-month global benchmark North Sea Brent crude up 3% at $96.22 per barrel and US West Texas Intermediate crude 3.9% lower at $92.84 per barrel.The Chicago Federal Reserve Bank's monthly National Activity Index rebounded to a reading of 0.14 in April from negative 0.15 in March, compared with expectations for a smaller gain to negative 0.03 in survey of analysts compiled by Bloomberg as of 7:30 am ET.The March S&P Case-Shiller home price index is scheduled for release at 9 am ET. The May consumer confidence index, due at 10 am ET, is projected to fall to 92.0 from 92.8.In other world markets, Japan's Nikkei closed 0.3% lower, Hong Kong's Hang Seng ended flat, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was up 0.5% and Germany's DAX index was 0.4% lower in Europe's early afternoon session.In equities, Eli Lilly (LLY) shares were up 1.2% after the company said its experimental gene-editing therapy, VERVE-102, reduced LDL cholesterol and PCSK9 protein levels in a phase 1 study involving adults with heterozygous familial hypercholesterolemia or premature coronary artery disease. BHP Group (BHP) stock was 1.4% higher after a Guardian report that the company scrapped plans for an iron ore processing facility near its Jimblebar mine in Western Australia that was expected to improve ore quality and lower emissions.On the losing side, energy majors ExxonMobil (XOM), Chevron (CVX), and Occidental Petroleum (OXY) saw their shares decline after oil prices fell below $100 for the first time in weeks. ExxonMobil shares were down 1.1%, Chevron stock was 1.2% lower, and Occidental Petroleum shares also fell 1.2%.

Dow JonesNasdaq CompositeS&P 500$AZO$BHP$CVX$LLY$OXY$XOM

Equities20d ago

Barclays Adjusts Price Target on Chevron to $213 From $192, Maintains Equalweight Rating

$CVX

Equities25d ago

Morgan Stanley Adjusts Chevron Price Target to $214 From $212, Maintains Overweight Rating

Chevron (CVX) has an average rating of overweight and mean price target of $214.23, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$CVX

Oil & Energy25d ago

QatarEnergy Acquires Stake in 3 Exploration Blocks Offshore Uruguay

QatarEnergy has acquired participating interests in three offshore exploration blocks in Uruguay, from Shell (SHEL) subsidiary BG International, marking its first foray into the country's upstream sector, it said Wednesday.The company did not disclose the acquisition cost.QatarEnergy now holds a 30% interest in block OFF-2. Shell, which owns a 70% interest, operates the block.In block OFF-4, operated and 50% owned by APA, QatarEnergy now holds an 18% interest. Shell holds the remaining 32% stake, the statement said.The Middle East company also acquired a 30% interest in block OFF-7, where Shell holds a 40% stake and Chevron (CVX) 30%.The three blocks span 11,155 to 18,227 square kilometers, according to the report.Price: $87.56, Change: $-0.90, Percent Change: -1.02%

$CVX$SHEL

Equities26d ago

Shell Sells Stakes in Uruguay Offshore Blocks to QatarEnergy

Shell (SHEL) unit BG International has sold participating interests in three exploration blocks offshore Uruguay to QatarEnergy, which made the announcement Wednesday.QatarEnergy bought an 18% interest in block OFF-4, with Shell holding 32% and operator APA (APA) accounting for the rest.QatarEnergy has also acquired a 30% stake in block OFF-2, which is operated by Shell with a 70% interest.QatarEnergy purchased a 30% stake in block OFF-7, with operator Shell retaining a 40% share. Chevron (CVX) holds the remaining 30%, QatarEnergy said.

$APA$CVX$SHEL

Equities26d ago

Bernstein Adjusts Price Target on Chevron to $204 From $216, Maintains Market Perform Rating

Chevron (CVX) has an average rating of overweight and mean price target of $214.14, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$CVX

Oil & Energy26d ago

Energean Oil Output Drops in Q1 Over Iran War Disruption to Israel Ops

London-listed Energean produced 21% less oil in Q1 due to government orders to suspend work in Israel due to the Iran war, it said on Wednesday.Output fell to 114,000 barrels of oil equivalent per day on average down from 145,000 boe/d in Q1, 2025, Energean's earnings statement said.Following a restart in Israel, after the Feb. 28 to April 9 interruption, production has returned to normal levels of 152,000 boe/d, including 116,000 boe/d in Israel.Production guidance across the group for 2026 is 130,000 to 140,000 boe/d, reduced from 140,000 to 150,000 boe/d previously, including Israel outlook reduction to 98,000 to 104,000 boe/d, down from 108,000 to 114,000 boe/d.The company expects second oil train commissioning by late May increasing liquids production to 20,000 barrels per day from 13,000 bbl/d, the statement said.Energean said it is on track to receive all necessary warrants to take up a presence in Angola after its acquisition of Chevron's (CVX) 31% operated interest in oil Block 14 and 15.5% non-operated interest in Block 14K.The company says the acquisition is a first step to expanding its presence in West Africa.

$CVX

Equities26d ago

Market Chatter: Chevron, Motiva Cut Motor Oil Feedstock Deliveries as Iran War Disrupts Market

Chevron (CVX) and Saudi Aramco-owned Motiva Enterprises have reduced some customer deliveries of Group III and II base oils, key ingredients used in high-end motor oil and lubricants, to minimum contractual levels as the Iran war continues to disrupt supplies, Bloomberg reported on Tuesday, citing people familiar with the matter.Such reductions were highly unusual outside refinery outages, with Group III supplies especially constrained, the report said.Global base oil markets have been under pressure since the conflict began, while Group III prices have climbed to record highs, according to Argus Media, cited by Bloomberg.The US imports 44% of its Group III oil from the Middle East. Bloomberg said supply strains worsened after Iranian attacks in March damaged Shell's Pearl GTL facility in Qatar, a major supplier.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$CVX

Equities28d ago

HSBC Adjusts Price Target on Chevron to $221 From $217, Maintains Buy Rating

$CVX

Wire30d ago

Market Chatter: US Energy Secretary Expects China to Increase Oil Imports From US

US Secretary of Energy Chris Wright told CNBC on Friday he expects China to increase oil imports from the US because the two nations are natural partners and because China relies heavily on imports from the Middle East that have mostly been cut off for weeks.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $156.00, Change: $+4.25, Percent Change: +2.80%

$CVX$OXY$TTE$XOM

Wire30d ago

US Energy Secretary Expects China to Increase Oil Imports From US, CNBC Reports

$COP$CVX$OXY$XOM

Commodities31d ago

Update: Woodside Energy Gas Plants Face Industrial Action; Supply Risks Emerge

(Updates with Woodside Energy's comments in sixth paragraph.)Workers at Woodside Energy's (WDS) maintenance contractor UGL will take industrial action from May 20 at Karratha and Pluto gas facilities in Australia over a wage and working conditions dispute, the Offshore Alliance union said on Friday.Inpex's Ichthys LNG facility is also facing the prospect of industrial action, with labor unions considering issuing a strike notice if an agreement is not reached at some point on Friday, according to multiple media outlets.Exports of liquefied natural gas from these facilities could be affected, triggering a wider supply disruption, particularly as shipments through the Strait of Hormuz remain largely restricted, Bloomberg said.Australian LNG producers are already running close to operational limits to increase supply, the news agency reported, as Asian buyers seek alternative cargoes in response to the disruption to energy flows resulting from the Middle East conflict.Woodside's Karratha gas plant has an export capacity of 14.3 million tons per annum. Pluto LNG currently exports about 5 mtpa, which could double to around 10 mtpa once the second train becomes operational. Inpex's Ichthys LNG plant adds another 9.3 mtpa to global supply.Woodside toldthat its "priority remains the performance of its operations in a safe and reliable manner," while it "respects the rights of contractor employees to engage in protected industrial action under the Fair Work Act."Inpex, meanwhile, did not immediately respond to' request for comment.In 2023, strikes at Chevron's (CVX) facilities in Australia had resulted in LNG price spikes in Europe and Asia, due to the prospect of reduced gas exports, Bloomberg reported.Price: $22.46, Change: $+0.15, Percent Change: +0.65%

$CVX$WDS

Commodities31d ago

Woodside Energy Gas Plants Face Industrial Action; Supply Risks Emerge

Workers at Woodside Energy's (WDS) maintenance contractor UGL will take industrial action from May 20 at Karratha and Pluto gas facilities in Australia over a wage and working conditions dispute, the Offshore Alliance union said on Friday.Inpex's Ichthys LNG facility is also facing the prospect of industrial action, with labor unions considering issuing a strike notice if an agreement is not reached at some point on Friday, according to multiple media outlets.Exports of liquefied natural gas from these facilities could be affected, triggering a wider supply disruption, particularly as shipments through the Strait of Hormuz remain largely restricted, Bloomberg said.Australian LNG producers are already running close to operational limits to increase supply, the news agency reported, as Asian buyers seek alternative cargoes in response to the disruption to energy flows resulting from the Middle East conflict.Woodside's Karratha gas plant has an export capacity of 14.3 million tons per annum. Pluto LNG currently exports about 5 mtpa, which could double to around 10 mtpa once the second train becomes operational. Inpex's Ichthys LNG plant adds another 9.3 mtpa to global supply.The companies did not immediately respond to' requests for comment.In 2023, strikes at Chevron's (CVX) facilities in Australia had resulted in LNG price spikes in Europe and Asia, due to the prospect of reduced gas exports, Bloomberg reported.

$CVX$WDS

Sectors31d ago

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks advanced late Thursday afternoon, with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each adding 0.8%.The Philadelphia Oil Service Sector Index was climbing 1.3%, and the Dow Jones US Utilities Index was up 0.3%.Front-month West Texas Intermediate crude oil was rising 0.8% to $101.79 a barrel, and the global benchmark Brent crude contract was adding 0.6% to $106.30 a barrel. Henry Hub natural gas futures rose 1.6% to $2.91 per 1 million BTU.US natural gas stocks rose by 85 billion cubic feet in the week ended May 8, smaller than the 87 billion gain expected in a survey compiled by Bloomberg and following an increase of 63 billion cubic feet in the previous week.In corporate news, Infinity Natural Resources (INR) shares gained 3% after RBC Capital Markets said in a note the company is positioned to outperform peers over the next year as a "niche player" that can switch focus between oil and natural gas.Constellation Energy (CEG) and Pine Creek RNG said Thursday they have signed a long-term agreement under which Constellation will buy a minority equity interest in five Pine Creek production facilities. Constellation shares increased 0.3%.Chevron (CVX) has agreed to sell its downstream fuels and lubricants marketing businesses in Singapore, Malaysia, the Philippines, Australia, Vietnam and Indonesia, to Eneos for $2.17 billion, Eneos said. Chevron shares added 0.2%.New Fortress Energy (NFE) is seeking permission from a UK court for a restructuring plan that will convert 90% of its $6.5 billion debt into equity and transfer ownership of the company to creditors, Bloomberg reported. New Fortress shares fell 7%.

$CEG$CVX$INR$NFE

Showing 21-40 of 125