Chevron Ranks 6th in the Top 10 Integrated Energy Stocks



Chevron’s stock performance in 4Q17

In terms of stock price appreciation, Chevron (CVX) stock ranks sixth in the list of top ten integrated energy stocks. The other stocks in the middle order are Statoil (STO) and ExxonMobil (XOM).

Chevron stock has risen 1.9% since October 2, 2017, underperforming the SPDR S&P 500 ETF (SPY). This ETF has risen 5.7% in the same period. STO and XOM have returned 3.6% and 1.4%, respectively, in 4Q17.

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Chevron’s moving averages

In 4Q17, Chevron’s 50-day moving average (or 50 DMA) remained above its 200-day moving average (or 200 DMA). Also, the rise in Chevron stock has led to a rise in its 50 DMA. CVX’s 50 DMA, which stood 1.0% above its 200 DMA on October 2, now stands 6.6% above its 200 DMA.

Why the rise in Chevron stock?

Chevron stock’s correlation coefficient versus WTI in the last one-year period stood at 0.44, implying a positive correlation. WTI prices rose 13.0% in 4Q17, which could have affected Chevron stock positively.

In the quarter, Chevron posted its 3Q17 and 9M17 results. CVX’s 3Q17 earnings missed estimates. For more on this topic, please refer to Chevron’s 3Q17 Earnings Miss Estimates, Upstream Earnings Rise.

In its 9M17 results, Chevron improved from a loss of $0.9 billion in 9M16 to earnings of $6.1 billion. This improvement resulted from an across-the-board rise in segmental earnings. The company’s Upstream segment, which reported a loss of $3.5 billion in 9M16, rose to $2.9 billion in 9M17. This increase was due to rise in crude oil prices.

Chevron’s International Upstream operations had positive earnings in 9M17 compared to negative earnings in 9M16. The company’s Downstream earnings rose from $3.1 billion in 9M16 to $3.9 billion in 9M17.

In the next part, we’ll look at XOM’s stock returns in 4Q17.


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