With a market cap of $301.2 billion, Chevron Corporation (CVX) is a major player in the global oil and gas industry. It operates through Upstream and Downstream segments and boasts one of the industry's leading development project pipelines. Founded in 1879, San Ramon, California-based Chevron is making big moves with expansions in Kazakhstan, offshore gas fields in the Mediterranean, new developments in the Gulf of Mexico and new fields for discovery in Brazil.
Shares of the energy giant have underperformed the broader market over the past year. CVX has surged 4.9% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 28.9%. In 2024, Chevron’s stock rose 8%, while $SPX rose 11.1% on a YTD basis.
