Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant. The Downstream segment refines crude oil into petroleum products; markets crude oil, refined products, and lubricants; manufactures and markets renewable fuels, commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives; and transports crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car. The company was formerly known as ChevronTexaco Corporation and changed its name to Chevron Corporation in 2005. Chevron Corporation was founded in 1879 and is headquartered in San Ramon, California.

Chevron Corporation демонстрирует смешанную картину по ключевым финансовым показателям. С одной стороны, коэффициенты P/E, P/B и P/FCF значительно превышают медианные значения по отрасли, что может указывать на переоцененность акций. С другой стороны, компания показывает хорошие результаты по EPS, при этом ожидаемые показатели тоже выглядят многообещающе. Долговая нагрузка остается на низком уровне, что является позитивным фактором для стабильности компании. Несмотря на это, эффективность, измеряемая через ROE и ROA, ниже медианных значений, что вызывает опасения по поводу менеджмента и способности генерировать доход. Кроме того, отрицательная динамика валовой и операционной маржи указывает на возможные проблемы с контролем затрат. В то же время, рост выручки и чистой прибыли в последние годы добавляют уверенности в способности компании справляться с текущими вызовами. В целом, несмотря на некоторые сильные стороны, такие как устойчивые финансовые результаты и низкие уровни долга, высокие мультипликаторы и слабая эффективность ставят под сомнение текущую оценку акций Chevron.

Chevron Corporation

Key Points
This exchange-traded fund (ETF) is focused on healthy, dividend-paying stocks.
It has averaged annual gains of more than 13% over the past decade.
I'm tempted to suggest a high-growth exchange-traded fund (ETF) here, but instead I want to offer a top-flight dividend-oriented ETF. Why? Well, I'm considering that the world -- and our economy -- is a little less steady than usual these days, with a war afoot and tariffs and trade wars, too. On top of that, the stock market has delivered double-digit gains in six of the past seven full years (2019-2025). It could be smart to be a defensive investor.
So dividends. Healthy and growing dividend-paying stocks offer the potential for stock-price appreciation, just like any stock. And on top of that, they deliver regular income -- which tends to grow over time via dividend increases. It's a compelling proposition in any kind of economy, really.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Meet the Schwab U.S. Dividend Equity ETF
Consider the Schwab U.S. Dividend Equity ETF (NYSEMKT: SCHD). Here's how it has performed in recent years:
Period
Average annual gain
Past 1 year
15.67%
Past 3 years
12.66%
Past 5 years
11.03%
Past 10 years
13.37%
Since inception (10/20/2011)
13.30%
Clearly, it's a strong performer -- and it's also a solid dividend payer, recently yielding 3.3%. Most funds tend to deliver either strong returns or strong dividend income. This one offers both.
If you invested $1,200 annually ($100 per month) in it, and you earned an annual return of, say, 10%, you'd end up with around $68,730 in 20 years.
So what's in this ETF? Here are the top 10 holdings as of March 13:
Stock
Weight in ETF
Recent yield
Lockheed Martin
4.94%
2.1%
ConocoPhillips
4.74%
2.8%
Chevron
4.70%
3.6%
Verizon Communications
4.50%
5.6%
Altria Group
4.19%
6.3%
Bristol Myers Squibb
4.18%
4.3%
Merck
4.19%
2.9%
Coca-Cola
3.96%
2.7%
PepsiCo
3.88%
3.6%
Amgen
3.85%
2.7%
The ETF holds roughly 100 stocks, many of them blue chips. Invest in the ETF now and you'll own those same stocks -- and can expect significant dividend income.
Should you buy stock in Schwab U.S. Dividend Equity ETF right now?
Before you buy stock in Schwab U.S. Dividend Equity ETF, consider this:
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*Stock Advisor returns as of March 15, 2026.
Selena Maranjian has positions in Altria Group, Amgen, Bristol Myers Squibb, Schwab U.S. Dividend Equity ETF, and Verizon Communications. The Motley Fool has positions in and recommends Amgen, Bristol Myers Squibb, Chevron, and Merck. The Motley Fool recommends ConocoPhillips, Lockheed Martin, and Verizon Communications. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

1 ETF That Could Turn $100 Per Month Into $67,380

Key Points
The war in Iran has led to a surge in the price of oil recently.
Officials in Iran warn that the price could hit $200 per barrel.
The XLE ETF holds many top oil and gas stocks that have been doing well this year.
Oil prices have been soaring this year as the war in Iran disrupts production. The price of crude oil is around $100 per barrel for the first time since 2022. And depending on how long and severe the disruption proves to be, there's the potential for it to rise even higher. Iranian officials have even warned that the price could reach $200 per barrel, due to the instability in the region.
While that would be bad news for the economy and could lead to higher inflation, it would also give oil producers a boost in the process. One exchange-traded fund (ETF) that's been soaring this year is the State Street Energy Select Sector SPDR ETF (NYSEMKT: XLE). It's up around 29% right now, which is a far better performance than the S&P 500, which has fallen by 3% thus far. Here's why adding the ETF to your portfolio could still be a good move today.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
The fund is full of top oil and gas stocks
The State Street Energy Select Sector SPDR ETF holds energy stocks that are part of the S&P 500 index. It's a subset of the broad index that can enable investors to still invest in safe stocks, but with a focus on energy in particular. It contains just 22 holdings, but they include top oil and gas stocks such as ExxonMobil, Chevron, and ConocoPhillips. Those three account for nearly half of the fund's entire portfolio.
There is going to be some risk and volatility with the fund simply due to its exposure to changing commodity prices. But it can be a good way for investors to hedge against the possibility of rising oil prices, while still investing in some quality stocks.
It can be a great holding for the long term
Although the State Street Energy Select Sector SPDR ETF has already amassed significant gains this year, it has underperformed the market in each of the past three years; it may be overdue for a bounce back. And now, with oil prices rising, it has just the catalyst it needs to take off.
But regardless of what happens with oil prices this year, this is still an excellent investment to hold for the long term. With quality stocks, a low expense ratio of 0.08%, and a dividend that yields 2.6%, this is an excellent ETF to hang on to for the long haul. It can provide you with some quality recurring income and help you diversify your portfolio.
Should you buy stock in Select Sector SPDR Trust - State Street Energy Select Sector SPDR ETF right now?
Before you buy stock in Select Sector SPDR Trust - State Street Energy Select Sector SPDR ETF, consider this:
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Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $508,607!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,122,746!*
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*Stock Advisor returns as of March 13, 2026.
David Jagielski, CPA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Chevron. The Motley Fool recommends ConocoPhillips. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Oil Prices Are Climbing, and That Means This ETF Could Be a Hot Buy This Year

Key Points
The Iranian blockade of the Strait of Hormuz sent oil prices soaring this week.
Energy stocks rose but make up less than 4% of the S&P 500, limiting their impact.
Goldman Sachs and Home Depot each dropped 6%, dragging down the Dow.
The stock market is ending a rough week. The leading stock indexes rose on Monday and Tuesday as the conflict in Iran seemed destined for a quick resolution. But the fighting only intensified from there, including an Iranian blockade of oil shipments through the critical Strait of Hormuz, which led to skyrocketing oil prices.
That's bad news in an era when AI data centers are consuming more electricity than ever, often generated by burning oil or natural gas. The combination of intense energy demand and limited supply also raises questions about the global economy. So the Iranian crisis is weighing on tech stocks, banks, and consumer goods giants alike. The only winners this week have been -- you guessed it -- energy producers and utility services.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Energy stocks can't carry the market alone
As expected, most market indexes ended the week on a low note. Sure, energy stocks with limited operations in the Persian Gulf rose significantly but that wasn't enough to outweigh the secondary effects of high oil prices.
After all, the entire energy sector accounts for just 3.4% of the S&P 500's (SNPINDEX: ^GSPC) total market value. Most of the energy giants trade on the New York Stock Exchange, so the energy footprint on the Nasdaq Composite (NASDAQINDEX: ^IXIC) index works out to just 1% of the tech-heavy stock list.
And the only energy stock in the Dow Jones Industrial Average (DJINDICES: ^DJI) is Chevron (NYSE: CVX). With a share price just below $200, it carries a 2.4% weight on this price-weighted index. Even a large Chevron jump would barely move the Dow's needle overall.
The Magnificent 7 had a terrible week
The Dow took heavy hits from a 6% price drop in Goldman Sachs (NYSE: GS) this week, followed by another 6% retreat for Home Depot (NYSE: HD). The S&P 500 and Nasdaq Composite took their leading cues from several of the Magnificent 7 stocks, each losing more than $100 billion of market value over the same period.
Amazon (NASDAQ: AMZN) took the deepest cuts, with its market cap shrinking by $120 billion compared to last Friday. Amazon is investing $200 billion in AI-processing data centers this year, so there's a direct link to rising power costs.
The Iranian conflict will probably continue to set the market's overall tone until it winds down. It may feel like a bear market, but the downdraft is still far too weak for that moniker. The three top indexes still trade less than 7% below their recent all-time peaks, and this week's total drops clocked in below the 2% mark across the board.
The bearish tag only appears after S&P 500 drawdowns of at least 20% from a recent high. The storm clouds are gathering, centered around Iran and the Strait of Hormuz. It's too early to panic, but you may want to prepare for some rough seas.
Should you buy stock in Dow Jones Industrial Average right now?
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The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Dow Jones Industrial Average wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $508,607!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,122,746!*
Now, it’s worth noting Stock Advisor’s total average return is 933% — a market-crushing outperformance compared to 188% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of March 13, 2026.
Anders Bylund has positions in Amazon. The Motley Fool has positions in and recommends Amazon, Chevron, Goldman Sachs Group, and Home Depot. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Why Stock Indexes Ended This Week in the Red

Investors interested in stocks from the Oil and Gas - Integrated - International sector have probably already heard of Sasol (SSL) and Chevron (CVX). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.
We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.
Right now, Sasol is sporting a Zacks Rank of #2 (Buy), while Chevron has a Zacks Rank of #3 (Hold). Investors should feel comfortable knowing that SSL likely has seen a stronger improvement to its earnings outlook than CVX has recently. But this is just one factor that value investors are interested in.
Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.
Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.
SSL currently has a forward P/E ratio of 6.50, while CVX has a forward P/E of 29.57. We also note that SSL has a PEG ratio of 0.92. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. CVX currently has a PEG ratio of 1.98.
Another notable valuation metric for SSL is its P/B ratio of 0.75. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, CVX has a P/B of 2.06.
Based on these metrics and many more, SSL holds a Value grade of A, while CVX has a Value grade of C.
SSL stands above CVX thanks to its solid earnings outlook, and based on these valuation figures, we also feel that SSL is the superior value option right now.
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SSL vs. CVX: Which Stock Should Value Investors Buy Now?

Exxon Mobil Corporation XOM is an integrated energy giant that generates a significant portion of its revenues from its upstream operations. With mounting concerns over carbon emissions and air quality, global energy demand is gradually shifting toward lower-carbon alternatives. In response, the company is ramping up investments in carbon capture and storage (CCS) initiatives.
In July 2025, XOM commenced the transportation and storage of CO2 from CF Industries’ Donaldsonville Complex, marking its first CCS project. Recently, the company has begun capturing carbon from its second commercial CCS project, the New Generation Gas Gathering (NG3) site in Gillis, LA. XOM plans to expand with two additional CCS projects under development, which are expected to come online in 2026.
ExxonMobil collects factory-produced gas across East Texas and Louisiana and sends it to the NG3 facility for treatment. At the site, the company plans to remove about 1.2 million tons per annum (MTA) of CO2 from the natural gas before it is transported to the Gulf Coast markets. With 3.2 MTA of CO2 contracted across its two active projects, XOM has secured about one-third of its total CCS capacity.
EQNR & CVX Are Improving Air Quality Via CCS Like XOM
Equinor ASA EQNR and Chevron Corporation CVX are other energy players involved in improving the air quality by removing CO2 via their CCS projects. Equinor and Chevron are working with TotalEnergies SE on the Bayou Bend CCS project in South Texas.
EQNR has secured licenses granting access to carbon storage capacity of up to 60 MTA. Equinor aims to build total CO2 transport and storage capacity in the range of 30 to 50 MTA by 2035.
CVX is evaluating a project to collect CO2 from its Pascagoula refining operations and safely sequester it in deep subsurface geological formations. Since its mid-2019 startup, Chevron’s Gorgon CCS project has surpassed 10 million tons of cumulative CO2 injections.
XOM’s Price Performance, Valuation & Estimates
ExxonMobil’s shares have gained 37.2% over the past year compared with the 31.8% improvement of the composite stocks belonging to the industry.
Image Source: Zacks Investment Research
From a valuation standpoint, XOM trades at a trailing 12-month enterprise-value-to-EBITDA (EV/EBITDA) of 9.9X. This is above the broader industry average of 6.19X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for XOM’s 2026 earnings has been unchanged over the past seven days.
Image Source: Zacks Investment Research
ExxonMobil currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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From inception in 2012 through November, 2025, the Zacks Top 10 Stocks gained +2,530.8%, more than QUADRUPLING the S&P 500’s +570.3%.
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Here's How XOM is Actively Involved in Improving Air Quality Via CCS

In early trading on Friday, shares of Sherwin-Williams topped the list of the day's best performing Dow Jones Industrial Average components, trading up 3.2%. Year to date, Sherwin-Williams registers a 1.2% gain.
And the worst performing Dow component thus far on the day is Chevron, trading down 0.6%. Chevron is showing a gain of 28.5% looking at the year to date performance.
Two other components making moves today are Amazon.com, trading down 0.4%, and MMM, trading up 2.1% on the day.
VIDEO: Dow Movers: CVX, SHW
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Dow Movers: CVX, SHW

Chevron Corporation’s CVX stock has surged over the past three months, reflecting renewed strength in the energy sector as crude prices spike amid escalating geopolitical tensions in the Middle East. Shares of the integrated major have climbed more than 30% during this period, recently touching an all-time high near $200. The rally has coincided with a dramatic surge in global oil prices after military conflict in the region disrupted supply flows through the Strait of Hormuz, one of the world’s most critical maritime energy chokepoints.
Brent crude has jumped to just above $100 per barrel from around $60 earlier this year, while WTI has climbed close to $95. With energy markets experiencing one of the most significant supply shocks in decades, investors are now asking whether Chevron’s rally still offers upside — or if much of the optimism is already reflected in the stock price.
Oil Price Shock Fuels Energy Sector Rally
The recent surge in crude prices stems from escalating geopolitical tensions following U.S.–Israeli strikes against Iran, which triggered a broader regional conflict. The situation quickly evolved into a major supply disruption, with tanker traffic through the Strait of Hormuz — normally responsible for transporting roughly 20 million barrels of oil per day — severely curtailed. Several vessels have been attacked near Iran’s coast, and shipping activity in the area has slowed dramatically.
The International Energy Agency estimates that about 7.5% of the global oil supply has been disrupted due to the conflict. In response, the IEA coordinated the largest strategic oil release in history, agreeing to release roughly 400 million barrels from emergency reserves worldwide. The United States separately authorized the release of 172 million barrels from its Strategic Petroleum Reserve.
Even with these releases, oil prices remain high because markets are concerned that the disruption could last for some time. Crude prices briefly climbed to about $119 per barrel earlier in the week before easing slightly. If the conflict continues, analysts believe that prices could rise toward $120 again, although higher prices may eventually reduce demand.
CVX’s Strong Price Performance Mirrors Peers XOM and SHEL
Chevron’s recent rally reflects the broader strength across major energy producers. Over the past three months, CVX shares have climbed 31.4%, reaching record levels of $198.88. Larger rival ExxonMobil XOM has delivered a similar performance, also gaining more than 30% during the same period. Meanwhile, Shell plc SHEL has advanced about 22.3%.
3-Month Price Perfprmance
Image Source: Zacks Investment Research
The surge highlights how integrated oil majors tend to benefit when energy markets tighten. Higher crude prices typically boost upstream profitability, which drives earnings across companies such as ExxonMobil, Shell and Chevron. Investor sentiment toward the sector improved significantly as geopolitical risk pushed oil prices higher.
At the same time, Chevron’s valuation has expanded alongside its share price. The stock now trades at a noticeably higher forward earnings multiple than both ExxonMobil and Shell. While Chevron’s strong profitability and operational efficiency help justify some premium, the higher multiple suggests that a substantial portion of the sector’s bullish outlook may already be reflected in the current price.
CVX Earnings Outlook Backed by Oil, Long-Term Growth Mixed
Chevron’s earnings performance has been consistently strong in recent quarters. The company has beaten the Zacks Consensus Estimate in each of the past four quarters, delivering an average earnings surprise of 5.6%. This track record highlights Chevron’s operational discipline and the benefits of its diversified integrated model.
Image Source: Zacks Investment Research
High crude prices could further strengthen earnings in the near term. If oil prices remain elevated around the current levels, analysts estimate that Chevron could generate more than $8 per share in annual earnings. Strong upstream margins, combined with steady refining and distribution operations, typically allow integrated producers like Chevron, ExxonMobil and Shell to generate solid cash flow during periods of elevated energy prices.
However, consensus forecasts suggest that the earnings cycle could moderate in the coming year. The Zacks Consensus Estimate projects Chevron’s earnings per share to decline 8.6% in 2026 compared with the prior year. The expected decline reflects the possibility that oil prices eventually stabilize as strategic reserves are released and global supply gradually adjusts.
Looking further ahead, the outlook improves significantly. Earnings are projected to rebound by about 30% in 2027, indicating that Chevron’s long-term profitability still depends heavily on commodity price cycles and production growth.
Image Source: Zacks Investment Research
Chevron Benefits From Strategic Growth and Integrated Model
Chevron’s long-term growth story remains supported by major strategic investments and a diversified operating structure. One of the most significant developments is the company’s acquisition of Hess, which expands Chevron’s asset base and strengthens its upstream portfolio. The deal adds exposure to Guyana’s highly productive Stabroek Block, one of the most attractive new oil basins globally.
Access to high-quality reserves is critical in the energy industry, and the Hess acquisition improves Chevron’s long-term production outlook. It also enhances the company’s scale and resource depth, positioning it to compete effectively with other global energy giants such as ExxonMobil and Shell.
Chevron’s integrated business model also provides a degree of stability during commodity cycles. Unlike pure exploration companies that rely heavily on crude prices, Chevron operates across the entire energy value chain — from exploration and production to refining and fuel distribution. This diversification helps balance earnings during periods of volatility, allowing downstream segments to partially offset fluctuations in upstream profitability.
In addition, Chevron remains attractive to income-focused investors due to its consistent dividend payments and global scale. Reliable shareholder returns often provide a stable base of institutional demand for the stock, even during periods of market uncertainty.
Conclusion
Chevron’s recent rally reflects strong tailwinds from surging oil prices and heightened geopolitical risk in global energy markets. The company’s consistent earnings execution, integrated business model and strategic investments — particularly the Hess acquisition — continue to support its long-term growth prospects. At the same time, the stock now trades at a premium valuation compared with peers ExxonMobil and Shell, while consensus estimates still call for an earnings decline in 2026 before a potential rebound later in the cycle.
With much of the current oil-price optimism already reflected in Chevron’s share price, the risk-reward balance appears relatively neutral at the present levels. As a result, CVX stock currently carries a Zacks Rank #3 (Hold), suggesting that investors may want to wait for either a pullback or clearer catalysts before building new positions.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Just Released: Zacks Top 10 Stocks for 2026
Hurry – you can still get in early on our 10 top tickers for 2026. Handpicked by Zacks Director of Research Sheraz Mian, this portfolio has been stunningly and consistently successful.
From inception in 2012 through November, 2025, the Zacks Top 10 Stocks gained +2,530.8%, more than QUADRUPLING the S&P 500’s +570.3%.
Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2026. You can still be among the first to see these just-released stocks with enormous potential.
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Chevron Near $200 While Oil Tops $100: Does CVX Merit a Buy?

U.S. energy major Chevron Corporation CVX has agreed to sell its stakes in offshore Block 14 and Block 14K in Angola to London-listed Energean for $260 million. The transaction includes Chevron’s 31% operated interest in Block 14 and its 15.5% non-operated stake in Block 14K. Both assets are located in Angola’s deepwater offshore basin and have been key components of the country’s oil production landscape for decades.
The divestment reflects Chevron’s ongoing strategy to streamline its global upstream portfolio by selling mature assets and focusing capital on higher-growth opportunities. Despite the sale, the company will maintain a strong presence in Angola through interests in other blocks and the Angola LNG project.
Energean Expands Footprint in West Africa
For Energean, the acquisition marks a significant step in its geographic expansion and represents its first major investment in West Africa. The company has been pursuing a strategy of disciplined growth and portfolio diversification, and the Angolan assets provide a new production base in one of Africa’s most important hydrocarbon regions.
Energean views the acquisition as a gateway to building a broader energy hub in the region. With stable production and potential development opportunities, the company sees the blocks as both a cash-generating asset and a platform for future growth.
Block 14 Remains a Key Offshore Production Hub
Block 14 has been producing crude oil since the late 1990s and remains one of Angola’s established offshore production hubs. The block currently produces about 42,000 barrels of oil per day, with Energean expected to gain around 13,000 barrels per day from its acquired stake.
Production from the block comes from nine oilfields connected to processing facilities such as Benguela, Belize, Lobito, Tomboco, Tombua-Landana and Landana North. These facilities offer spare processing capacity along with gas processing and water injection systems, creating opportunities to optimize production and support further development projects.
The block also contains proven and probable reserves tied to Energean’s share, providing long-term production potential and supporting the company’s growth ambitions.
Block 14K Adds Additional Production Through Lianzi Field
Block 14K includes the unitized Lianzi field, which is tied back to the existing infrastructure in Block 14. The field currently produces roughly 2,000 barrels of oil per day, with about 1,000 barrels per day expected to be attributable to Energean after the acquisition.
The field is operated by Trident Energy and involves multiple partners, highlighting the collaborative structure typical of offshore developments in the region. The tie-back to established infrastructure reduces operational costs and allows for efficient production from the field.
Contingent Payments Linked to Future Development
Beyond the initial $260 million purchase price, Energean has agreed to potential contingent payments linked to oil prices and production thresholds tied to the prospective PKBB development. These payments could reach up to $25 million annually through 2038, with the total capped at $250 million.
Such structures are increasingly common in upstream transactions, allowing sellers to retain upside exposure while providing buyers with manageable upfront costs.
Angola Continues to Attract Global Energy Investment
The transaction underscores continued international interest in Angola’s offshore resources. As one of Africa’s leading oil producers, the country remains a key destination for energy investment as companies seek to sustain production and discoveries.
For Energean, the deal offers immediate production and long-term development opportunities. For Chevron, it represents another step in refining its portfolio while maintaining a strategic presence in Angola’s energy sector.
The transaction is expected to take effect from Jan. 1, 2026, with completion targeted by the end of the year, subject to regulatory approvals and customary conditions.
CVX’s Zacks Rank & Key Picks
Currently, CVX has a Zacks Rank #3 (Hold).
Investors interested in the energy sector may consider some better-ranked stocks like Archrock, Inc. AROC, Harbour Energy plc HBRIYand Nabors Industries Ltd. NBR.While Archrock sports a Zacks Rank #1 (Strong Buy) at present, Harbour Energy and Nabors Industries carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Archrock started as a broader energy services provider but has steadily refocused its business to become a premier compression services company, primarily supporting natural gas production, processing and transportation. The Zacks Consensus Estimate for AROC’s 2026 earnings indicates 5.8% year-over-year growth.
U.K.-based Harbour Energy is an independent oil and gas company. The Zacks Consensus Estimate for HBRIY’s 2026 earnings indicates 287.5% year-over-year growth.
Hamilton-based Nabors Industries is one of the largest land-drilling contractors in the world, conducting oil, gas and geothermal land-drilling operations. The Zacks Consensus Estimate for NBR’s 2026 earnings indicates 48.6% year-over-year growth.
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Chevron to Sell Angola Offshore Stakes to Energean for $260M

U.S. stock markets plummeted on Thursday as crude oil prices continued to surge following intensified war and geopolitical conflicts in the Middle East. The global supply-chain system of crude oil and natural gas remained heavily disturbed showing no signs of near-term recovery. Market participants also weighed a series of mixed economic data. All three major stock indexes ended in negative territory.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) tumbled 1.6% or 739.42 points to close at 46,677.85. This marked the lowest close of the blue-chip index in 2026 and the first close below the threshold 47,000 level. Notably, 26 components of the 30-stock index ended in negative territory while four ended in positive territory.
The tech-heavy Nasdaq Composite finished at 22,311.98, plummeting 1.8% or 404.16 points owing to the weak performance by technology bigwigs. This reflected the tech-laden index’s lowest close so far this year.
The S&P 500 slid 1.5% or 103.18 points to finish at 6,672.62, its lowest close in 2026. Nine out of 11 sectors of the broad-market index ended in negative territory while two ended in positive territory. The Consumer Staples Select Sector SPDR (XLP) and the Real Estate Select Sector SPDR (XLRE) fell 1.3% and 1.2%, respectively. On the other hand, the Energy Select Sector SPDR (XLE) rose 2.5%.
The fear gauge CBOE Volatility Index (VIX) was up 12.6% to 27.29. A total of 19.96 billion shares were traded on Thursday, lower than the last 20-session average of 20.05 billion. Decliners outnumbered advancers on the NYSE by a 4.18-to-1 ratio. On the Nasdaq, a 3.27-to-1 ratio favored declining issues.
Crude Oil Prices Continue to Rise
The geopolitical conflicts in the Middle East remained heightened. Iran continued to retaliate against the U.S.-Israel joint attack and the largest crude oil supply line through the Strait of Hormuz remained heavily disturbed.
The newly selected Iran's Supreme Leader Ayatollah Mojtaba Khamenei vowed to keep the crucial Strait of Hormuz closed, as a “tool to pressure the enemy.” CNBC reported citing U.S. Energy Secretary Chris Wright that the U.S. Navy is “not ready” to escort oil tankers through the Strait of Hormuz. The U.S. Navy may do this by the end of this month.
The 32 countries of the International Energy Agency (IEA) agreed to release 400 million barrels of crude oil to normalize global oil supply. This marked the largest such action in IEA’s history. Moreover, OPEC said that Saudi Arabia has also ramped up oil production.
Despite these measures, the U.S. benchmark West Texas Intermediate (WTI) futures jumped more than 9.7% to settle at $95.73 per barrel. The global benchmark — the Brent futures — climbed 9.2% to settle at $100.46 per barrel, its first close above the psychological barrier of $100 for the first time since August 2022.
Consequently, stock prices of U.S. upstream giants like Chevron Corp. CVX and Exxon Mobil Corp. XOM advanced 2.7% and 1.3%, respectively. The stocks currently carry a Zacks Rank #3 (Hold) each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Economic Data
The Department of Labor reported that initial claims decreased by 1,000 to 213,000 for the week ended March 7, marginally above the consensus estimate of 212,000. The previous week’s data was revised marginally upward to 214,000 from 213,000 reported earlier.
Continuing claims (those who have already received government aid and reported a week behind) decreased 21,000 to 1.85 million for the week ended Feb. 28. The previous week's level was revised upward by 3,000 to 1,871,000 from 1,868,000 reported earlier.
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis reported that the trade (goods and services) deficit fell to $54.5 billion in January, significantly lower than the consensus estimate of $69.3 billion. The metric for December was revised upward to $72.9 billion from $70.3 billion reported earlier.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported that housing starts increased to 1.487 million units in January, up 7.2% sequentially and 9.5% annually. The Zacks Consensus Estimate was 1.354 million units. The metric for December was revised downward to 1.387 million from 1.404 million units reported earlier.
On the other hand, building permits decreased to 1.376 million units in January, down 5.4% sequentially and 5.8% annually. The Zacks Consensus Estimate was 1.482 million units. The metric for December was revised upward to 1.455 million from 1.448 million units reported earlier.
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From inception in 2012 through November, 2025, the Zacks Top 10 Stocks gained +2,530.8%, more than QUADRUPLING the S&P 500’s +570.3%.
Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2026. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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Exxon Mobil Corporation (XOM) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stock Market News for Mar 13, 2026

Key Points
Warren Buffett called it a career and retired as CEO of Berkshire Hathaway on Dec. 31, 2025.
Berkshire's Form 13Fs show that its now-former billionaire boss remained a persistent seller of Bank of America stock leading up to his retirement.
However, Buffett also added close to 8.1 million shares of an integrated oil and gas stock with a robust capital-return program.
On Dec. 31, billionaire Warren Buffett's illustrious investing career came to a close. Following six decades that saw Berkshire Hathaway (NYSE: BRKA)(NYSE: BRKB) transform into a trillion-dollar business, the 95-year-old Oracle of Omaha officially handed the baton to his successor, Greg Abel.
But just because Buffett telegraphed his retirement eight months in advance, it doesn't mean he stopped positioning the company that he, and now-late right-hand man Charlie Munger, had built for future success.
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Leading up to his retirement, Warren Buffett meaningfully slashed Berkshire's stake in Bank of America (NYSE: BAC) and, conservatively, piled around $1.2 billion in his final quarter as CEO into an integrated oil and gas stock that's soared since the year began.
Warren Buffett slashed his stake in Bank of America by half
Although investors have historically paid close attention to the stocks Berkshire's now-former billionaire boss was buying, the truth is that he was a persistent net seller of stocks leading into his retirement. For 13 consecutive quarters (Oct. 1, 2022 – Dec. 31, 2025), the Oracle of Omaha sold more stock than he purchased, to the cumulative tune of approximately $187 billion.
With the exception of Apple, no core holding of Berkshire Hathaway was pared down more aggressively than Bank of America, which is commonly known as "BofA." Between the midpoint of 2024 and the end of 2025, Buffett sold 515,556,072 shares of BofA, equating to roughly 50% of Berkshire's once 1.03-billion-share stake in the money-center goliath.
Profit-taking likely explains one reason for this persistent selling. In the summer of 2017, Buffett exercised 700 million warrants for BofA common stock at just $7.14 per share. During the fourth quarter of 2025, Bank of America stock primarily vacillated between $50 and $56 per share.
But profit-taking probably isn't the entire story.
Among U.S. money-center banks, BofA is the most sensitive to interest rate shifts. When the Federal Reserve aggressively raised interest rates from March 2022 to July 2023 to tame the highest inflation rate in four decades, it was Bank of America that benefited the most. However, with the nation's central bank firmly in a rate-easing cycle, these same dynamics are now reversed. As the Fed lowers interest rates, BofA's interest income could decline at a faster pace than its peers.
Another catalyst that may have encouraged Warren Buffett to send over 515 million shares of Bank of America to the chopping block is its valuation. While Berkshire's investing legend was known to bend one of his unwritten investing rules from time to time, he was unwavering when it came to valuation. If Buffett didn't believe he was getting a stake in a wonderful company at a fair price, he simply didn't buy.
When Berkshire Hathaway initially invested in the preferred stock of BofA in August 2011, its common shares were trading at a 62% discount to book value. During the fourth quarter of 2025, Bank of America topped a 40% premium to its book value. The value proposition that attracted Buffett to BofA for so long appears to be gone.
Berkshire's now-former billionaire boss made a $1.2 billion wager on Chevron
Although the Oracle of Omaha was a net seller of equities for more than three years leading into his retirement, this doesn't mean value was nonexistent.
During the fourth quarter, Berkshire Hathaway's Form 13F shows 8,091,570 shares of integrated oil and gas titan Chevron (NYSE: CVX) were added. While we don't know the purchase price of these shares, eyeballing Chevron's average quarterly share price puts the cost basis at around $1.2 billion.
Thus far, this is looking like a genius final chess move. Shares of Chevron have gained 25% year to date, through the closing bell on March 6, translating into an unrealized profit of approximately $300 million.
There's little question that the Iran war is a catalyst for oil stocks. Iran's closure of the Strait of Hormuz -- through which approximately 20% of global petroleum liquids flow daily -- is tightening crude oil supply and driving a parabolic move in oil prices. Drilling is the bread-and-butter operating segment for Chevron in terms of margins.
However, Berkshire's investing legend likely wasn't thinking about a geopolitical event when boosting his company's stake in Chevron. Rather, it's the company's integrated operating model that often attracts investors.
In addition to highly profitable drilling operations, Chevron oversees transmission pipelines, chemical plants, and refineries. These midstream and downstream operations act as hedges against a significant decline in oil and/or natural gas.
The stability of Chevron's operating cash flow has allowed the company to offer a hearty capital-return program. It's increased its base annual dividend for 39 consecutive years, and is certainly no stranger to repurchasing its stock. Companies with steady or growing net income that can lower their outstanding share count through buybacks can expect a corresponding boost in earnings per share.
Even though energy hasn't played a particularly large role in Berkshire Hathaway's portfolio over several decades, Buffett recognizes that Chevron provides necessary goods and services. He was always a fan of businesses with sustainable moats -- and especially appreciated when they offered meaningful capital-return programs.
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Bank of America is an advertising partner of Motley Fool Money. Sean Williams has positions in Bank of America. The Motley Fool has positions in and recommends Apple, Berkshire Hathaway, and Chevron and is short shares of Apple. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Warren Buffett Wrapped Up His Illustrious Investing Career by Selling 50% of His Bank of America Stake and Piling Around $1.2 Billion Into This Scorching-Hot Oil Stock

Chevron Corporation

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