Chevron (CVX.US) is an American multinational energy corporation primarily involved in oil and gas. With a current market cap of $305.14 billion as of 30th August 2023, it has a rich history dating back to its founding as the Pacific Coast Oil Co. on September 10, 1879. Over the years, it has grown through acquisitions and mergers, eventually becoming part of Standard Oil. It was later incorporated as Chevron Corporation.
The company went public in its current form in 1984, following the dissolution of Standard Oil. Today, it operates globally, engaging in various aspects of the energy industry, including exploration, production, refining, and marketing of petroleum products. With a focus on sustainable practices, it continues to be a prominent player in the global energy sector.
Chevron stock has gone through peaks and valleys in the past five years. In March 2020, its lowest price was recorded at $51.60 due to the COVID-19 global pandemic, while in November 2022, the stock hit an all-time high of $189.68.
Some interesting highlights and curiosities have marked Chevron stock’s recent history. For example, in 2017, the company agreed to acquire Texas-based oil and gas producer, Anadarko Petroleum, for $33 billion, boosting its size significantly.
When it comes to trading strategies, there are several approaches that traders could take, depending on their trading style and goal. For instance, day trading and swing trading are two popular styles that allow traders to take advantage of short-term fluctuations in the stock price. Beyond trading styles, there are also tools and indicators that could be used to evaluate the stock. One useful tool is the line chart, which displays the stock’s price movements over time. Other include Average true range (ATR), inverted hammer, etc.
If you're considering trading Chevron stock, it's essential to do your homework first. While the company is a big name in the oil and gas industry, it's always wise to explore other options to ensure you make informed decisions. So who are its competitors?
- ExxonMobil (XOM.US): ExxonMobil is a multinational oil and gas corporation founded in 1999 through the merger of Exxon and Mobil. It is one of the largest publicly traded energy companies in the world, engaged in exploration, production, refining, and distribution of petroleum and petrochemical products.
- Royal Dutch Shell (RDS.US): Royal Dutch Shell, commonly known as Shell, is a British-Dutch multinational oil and gas company founded in 1907. It is one of the largest integrated energy companies globally, involved in various aspects of the energy industry, including exploration, production, refining, and marketing of oil and gas products.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and without capital restrictions that come with buying the underlying asset.