What’s Next For Chevron’s Stock?

What’s Next For Chevron’s Stock?

Share to Linkedin LOS ANGELES, CALIFORNIA - OCTOBER 28: The Chevron logo is displayed at a Chevron gas station on ... [+] October 28, 2022 in Los Angeles, California. Chevron posted near record profits as their quarterly profit rose 84 percent to $11. 23 billion amid a surge in oil prices during the quarter. (Photo by Mario Tama/Getty Images) Chevron Corporation (NYSE: CVX), a company manufacturing and selling a range of refined petroleum products, including gasoline, diesel, marine and aviation fuels, premium base oil, finished lubricants, and fuel oil additives, has increased by 5% over the last twenty-one trading days (one month) and currently stands at around $184. CVX's CVX recent financial performance has been supported by higher energy prices, which climbed to over $120 a barrel earlier this year. Currently, Brent, the international benchmark, trades at $81/barrel at the time of writing. In the third quarter, the company's top line grew 49% year-over-year (y-o-y) to $66. 6 billion. The company's net income jumped to $11. 2 billion, or $5. 78/share, from $6. 1 billion, or $3. 19/share, in the year-earlier quarter. It should be noted that profit slipped 3% from its all-time high in Q2 due to more than