Chevron: Buy, Sell, or Hold?
The past several years have been rollercoasters for oil and gas companies. At the onset of the pandemic, oil demand experienced a drastic decline, leading to a sharp decrease in prices. Then, the landscape shifted dramatically when Russia launched its invasion of Ukraine, causing oil prices to surge.Many companies in the sector capitalized on their windfall profits, which they used to strengthen their financial positions and return capital to shareholders. Lately, however, oil and gas stocks have been the laggards in the S&P 500 index.Since the start of 2023, Chevron (NYSE: CVX) stock has fallen nearly 11%, while the S&P 500 has surged 60% higher. If you're thinking of adding Chevron to your portfolio, consider the following first.Continue reading
The past several years have been rollercoasters for oil and gas companies. At the onset of the pandemic, oil demand experienced a drastic decline, leading to a sharp decrease in prices. Then, the landscape shifted dramatically when Russia launched its invasion of Ukraine, causing oil prices to surge.
Many companies in the sector capitalized on their windfall profits, which they used to strengthen their financial positions and return capital to shareholders. Lately, however, oil and gas stocks have been the laggards in the S&P 500 index.
Since the start of 2023, Chevron (NYSE: CVX) stock has fallen nearly 11%, while the S&P 500 has surged 60% higher. If you're thinking of adding Chevron to your portfolio, consider the following first.
