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Prediction: Chevron Will Soar Over the Next 2 Years. Here's 1 Reason Why.
Chevron (NYSE: CVX) stock has gone nowhere over the past three years. It's a real headscratcher, considering the performance of other energy stocks. The average one in the S&P 500 is up more than 20% in the period, while shares of chief rival ExxonMobil (NYSE: XOM) surged almost 40%. I believe Chevron's days of underperformance are ending. I predict the stock will soar over the next two years. Here's one factor fueling that view.One issue weighing down Chevron's stock in recent years has been the uncertainty surrounding its pending acquisition of Hess (NYSE: HES). The company agreed to buy the fellow oil stock in late 2023 in an all-stock deal valued at $53 billion. It made that move a few weeks after Exxon agreed to buy Pioneer Natural Resources in a $59.5 billion deal. Continue reading
Chevron (NYSE: CVX) stock has gone nowhere over the past three years. It's a real headscratcher, considering the performance of other energy stocks. The average one in the S&P 500 is up more than 20% in the period, while shares of chief rival ExxonMobil (NYSE: XOM) surged almost 40%.
I believe Chevron's days of underperformance are ending. I predict the stock will soar over the next two years. Here's one factor fueling that view.
One issue weighing down Chevron's stock in recent years has been the uncertainty surrounding its pending acquisition of Hess (NYSE: HES). The company agreed to buy the fellow oil stock in late 2023 in an all-stock deal valued at $53 billion. It made that move a few weeks after Exxon agreed to buy Pioneer Natural Resources in a $59.5 billion deal.
