Chevron (CVX) stock caught its second analyst upgrade in as many days Thursday, and investors surely appreciated the good news. After all, shares in the integrated oil and gas giant are lagging the broader market by a wide margin this year.
Tough comparisons against 2022 – a blowout year for profits as oil prices soared amid Russia's invasion of Ukraine – are just one headwind for Chevron. Fears of a recession settling in later this year are keeping a lid on oil prices, and that's also hurting CVX's prospects.
