Why Chevron Stock Soared 15.5% in Q1 While the Nasdaq Plunged 10%
The oil stock beat the market in Q1. Here's why it remains a buy on any dip.
The Nasdaq Composite (NASDAQINDEX: ^IXIC) plunged 10.4% in the first quarter of 2025. Oil stock Chevron (NYSE: CVX), however, bucked the broader market trend and surged 15.5% instead in Q1, according to data provided by S&P Global Market Intelligence.
Energy was among the best-performing sectors in Q1. As one of the world's largest oil and gas producers, Chevron stock rode the energy rally. There was, however, a lot more to Chevron stock's rise in Q1 than just that.
Chevron increased its dividend for the 38th consecutive year in Q1 and issued encouraging production and cash flow guidance through 2026, backed by a strong operational performance for 2024.
