Chevron's Surge: Production, Dividends, & Geopolitical Ties
Durham News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Chevrons stock surges amidst soaring oil prices, driven by supply concerns from the Iran conflict. The energy giant reported robust Q4 2022 earnings, including $2.8 billion adjusted earnings and $10.8 billion cash flow. Chevron also increased its quarterly dividend by 4% and boosted production by 12% to a record 3.7 million barrels of oil equivalent per day. New deals in Libya and Greece, along with progress in Venezuela, bolster its portfolio. The stock is trading well above its moving averages, with a key support zone between $158 and $169. Chevrons strong production growth, exploration options, and geopolitical ties position it well beyond the current oil price surge.
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