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Opinions of the company Chevron Corporation (NYSE: CVX) shares rose 1.2% on Thursday, March 19, as global trends continued to boost the stock.
Indeed, CVX is up nearly 28% since the start of the year, trading north of $200 at the time of writing.
The biggest wind has been, has been the partnership between the oil giant and PDVSA, the country. oil in Venezuela, where its American counterpart produces about 200,000 barrels a day.
At the same time, conflicts in the Middle East, and the rise in commodity prices that resulted from this, turned traders to energy names.
By early 2026, Chevron shares were changing hands below $159. Therefore, an investor who invested $1,000 in Chevron stock on New Year’s Day will now make a huge profit.
In particular, based on current prices, a $1,000 investment would be worth about $1,280, including dividends paid during this period.
In comparison, some of Chevron’s competitors, such as Enbridge (TSE: ENB ) and Enterprise Products (NYSE: EPD ), are up 12% and 15% year-to-date (YTD), respectively.
While profits this quarter have been strong, some of the company’s technology remains volatile. For example, the relative strength index (RSI) at 72 indicates a rapid rise following recent events.
A decisive move above $205.00 could confirm a new breakout, while a break below $197.00 could indicate profit-taking as traders overextend themselves.
A possible boost to growth now appears to be Chevron’s plan to expand the Petropiar project in the Orinoco Belt, which would allow it to boost production and exports.
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