This Is the World's Third Largest Oil Stock, and It's a Screaming Buy
Chevron (NYSE: CVX) just made an unusual move. It released preliminary numbers for its second quarter, deviating from its usual policy of directly announcing its quarterly numbers. But the company just pulled off something bigger: Chevron has waived the mandatory retirement age of 65 for its CEO. That means Mike Wirth, who will turn 63 this year, will continue to lead the oil and gas producer for the foreseeable future.
That's huge.
Wirth joined Chevron as an engineer in 1982 and oversaw much of the company's downstream, chemicals, and midstream businesses in the years that followed before taking the helm in 2018. Today, Chevron is the world's third largest oil company by market capitalization, just behind Saudi Arabian Oil Group -- better known as Saudi Aramco -- and ExxonMobil.
Source Fool.com
Chevron Corp. Stock
The stock is an absolute favorite of our community with 26 Buy predictions and no Sell predictions.
As a result the target price of 179 € shows a positive potential of 23.43% compared to the current price of 145.02 € for Chevron Corp..
