SHEL - Where Will Chevron Stock Be in 1 Year?
2024-06-30 05:27:00 ET
Chevron (NYSE: CVX) is the biggest loser in the integrated energy sector over the past year, with its share price performance lagging behind even long-troubled BP (NYSE: BP) . Chevron's stock return since June 2023 trails leader Shell (NYSE: SHEL) by well over 15 percentage points. But that underperformance may make Chevron the best choice among the group for new energy sector-interested investors.
Here's what you need to know and why the next year could be very important to changing the negative sentiment around Chevron's stock.
Stocks go in and out of favor all of the time. Chevron is currently in the dog house when it comes to the energy sector's largest and most dominant companies -- namely, the integrated energy giants. The performance highlighted above is a clear indication of that. For additional evidence of this trend, look no further than ExxonMobil (NYSE: XOM) , Chevron's closest U.S. peer. ExxonMobil has seen its stock price rise nearly 10% over the past year compared to the roughly 2% gain Chevron has posted.
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Where Will Chevron Stock Be in 1 Year?