Trump Announces Energy Giants to Invest Billions in Venezuela Post-Maduro Capture
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
- Positive Market Reaction: U.S. stock futures rose, with S&P 500 Futures up 0.09%, following Trump's announcement that energy giants are prepared to invest billions in Venezuela, indicating market optimism about future oil and gas investments.
- Surge in Oil Stocks: Chevron (CVX) shares jumped 10.97% and Halliburton (HAL) soared 18.01% in after-hours trading, reflecting investor enthusiasm for Venezuela's abundant oil and gas resources.
- Global Oil Market Dynamics: Venezuela holds the world's largest proven oil reserves at 303 billion barrels, accounting for 17% of global reserves, which is likely to attract more international capital and potentially reshape the global oil market landscape.
- Slight Dollar Index Increase: Despite escalating regional tensions, the U.S. Dollar Index (DXY) rose 0.14%, indicating sustained market confidence in the dollar as the petro-currency, which may influence future international trade flows.
Analyst Views on CVX
Wall Street analysts forecast CVX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CVX is 177.50 USD with a low forecast of 158.00 USD and a high forecast of 204.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
13 Buy
3 Hold
0 Sell
Strong Buy
Current: 163.850
Low
158.00
Averages
177.50
High
204.00
Current: 163.850
Low
158.00
Averages
177.50
High
204.00
About CVX
Chevron Corporation is an integrated energy company. The Company produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance its business and industry. The Company’s segments include Upstream and Downstream. Upstream operations consist primarily of exploring for, developing, producing and transporting crude oil and natural gas; liquefaction, transportation and regasification associated with LNG; transporting crude oil by major international oil export pipelines; processing, transporting, storage and marketing of natural gas; carbon capture and storage; and a gas-to-liquids plant. Downstream operations consist primarily of the refining of crude oil into petroleum products; marketing crude oil, refined products, and lubricants; manufacturing and marketing of renewable fuels, and transporting of crude oil and refined products by pipeline, marine vessel, motor equipment and rail car.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
