Why Chevron Stock Dropped on Friday
The Strait of Hormuz is open for business! That's good news for many investors, and the S&P 500 is up 1.2% as of 11:15 a.m. ET.
It's less good news for Chevron (NYSE: CVX) stock, however. Shares of the oil giant fell 7% through 11:15 a.m. ET, as investors began pricing in the prospect of lower oil prices.
Image source: Getty Images.
Source Fool.com
Chevron Corp. Stock
€170.70
2.360%
The stock is one of the favorites of our community with 49 Buy predictions and 1 Sell predictions.
As a result the target price of 179 € shows a slightly positive potential of 4.86% compared to the current price of 170.7 € for Chevron Corp..
