Why Chevron Stock Slumped Nearly 17% in 2023
Shares of Chevron (NYSE: CVX) slumped 16.9% in 2023, according to data provided by S&P Global Market Intelligence. That vastly underperformed the broader market, with the S 500 gaining 24% last year.
A few issues weighed on the oil stock last year. Falling oil prices were the most notable issue, impacting its earnings and cash flow. On top of that, Chevron went on an acquisition spree, which added some integration risk.
Crude oil prices cooled off in 2023. Brent, the primary global oil price benchmark, fell 10.3% for the year, closing at $77.04 per barrel. That was the first down year for oil since 2020.
Source Fool.com
Chevron Corp. Aktie
145,42 €
0,23 %
Die Aktie ist derzeit ein absoluter Favorit unserer Community mit 26 Buy-Einschätzungen und keiner einzigen Sell-Einschätzung.
Für Chevron Corp. sieht die Community ein Kursziel von 179 €, was eine erhebliche Steigerung um über 20% gegenüber dem aktuellen Kurs von 145.42 € bedeutet.
