Chevron (CVX) stock climbs on oil’s Iran-risk rally as traders chase energy names
Chevron shares rose 1.1% to $185.83 Thursday as Brent crude climbed to $71.48 a barrel amid rising U.S.-Iran tensions and a drop in U.S. oil inventories. Occidental Petroleum jumped nearly 8%, while Exxon Mobil gained 0.8%. Melius Research upgraded Chevron to “buy” with a $205 target. Chevron’s next $1.78 dividend is due March 10.