Why ExxonMobil and Chevron Stocks Were Gushers Today
A surge in oil prices brought the bulls into the energy sector on Monday. Two of the sector's top stocks, ExxonMobil (NYSE: XOM) and (NYSE: CVX), saw gains on the day thanks to this dynamic. The pair's share prices both climbed 3% higher, trouncing the slight (0.2%) rise of the S 500 index.
Oil prices are certainly not the only factor affecting the sector's companies, but they do matter a great deal. It's no wonder, then, that investors piled into oil titles after prices hit a three-month high on Monday. Additionally, July saw the most significant monthly increase (by over 1%) since the start of 2022.
ExxonMobil and Chevron are two of the most important global energy companies. That's why investors often eagerly buy into -- or sell out of -- them whenever there is a dramatic lurch in oil prices.
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 23.23% compared to the current price of 145.26 € for Chevron Corp..
