Chevron (CVX) shares climbed to $194.79 following a price target upgrade from HSBC and rising crude oil prices. The company is currently streamlining its portfolio to focus on high-margin growth in Guyana and the Permian Basin.
- HSBC maintained a Buy rating and raised its target to $221, citing crude oil hitting $110 per barrel amid intensifying geopolitical tensions.
- CEO Mike Wirth warned of a potential 1970s-style energy crisis, increasing market attention on the stability of U.S. energy producers.
- The company finalized a $2.17 billion sale of Asia Pacific assets to ENEOS as part of its strategic shift toward more profitable production regions.