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
161,36 €
-1,86 %
Klares Buy-Übergewicht bei der Chevron Corp. Aktie mit 47 zu 1 Einschätzungen.
Ein Kursziel von 175 € für Chevron Corp. zeigt ein leicht positives Potenzial im Vergleich zum aktuellen Kurs von 161.36 €.
