Chevron Shares Rise Over 1.6% Amid Q1 Earnings Report

Chevron shares experienced gains during Thursday trading, with the stock rising above its recent lows but still below its 52-week high. The company reported quarterly earnings that slightly surpassed analyst expectations, though revenues came in just under forecasts. CEO Mike Wirth emphasized Chevron’s robust portfolio, ongoing capital discipline, and successful operational milestones, including increased production in the Permian Basin and Kazakhstan, as well as a new project in the Gulf of Mexico. Chevron highlighted its commitment to shareholders, having returned over $78 billion in recent years, and analysts generally maintain an 'Outperform' rating, with price targets suggesting potential upside. Despite underperforming the broader market year-to-date, future stock movement will likely depend on management’s outlook and revisions to earnings estimates. Investors continue to monitor Chevron as a key indicator for the energy sector and broader economic trends.