uploads///Stock F

Chevron Stock Rises 1% in Q2, Underperforms SPY

By

Jun. 27 2019, Published 11:37 a.m. ET

Chevron’s stock performance

Chevron (CVX) stock has risen 1% since April 1—the beginning of the second quarter. The SPDR S&P 500 ETF (SPY), which is a broader market indicator, has risen 4%. The WTI crude oil prices have fallen 5% in the second quarter.

ExxonMobil (XOM) and BP (BP) have fallen 4% and 3%, respectively, since April 1. Royal Dutch Shell (RDS.A) and Petrobras (PBR) have risen 5% and 4% in the second quarter, respectively.

Article continues below advertisement

Stock performance in June

Chevron stock fell steeply in April and May. However, the stock has recovered in June.

In April, Chevron stock fell 3% due to its dull first-quarter earnings. The company’s adjusted earnings fell from $3.6 billion in the first quarter of 2018 to $2.8 billion in the first quarter. The lower earnings, year-over-year, were due to the fall in upstream and downstream earnings.

In May, Chevron fell 5% due to a fall in oil prices and equity markets. SPY fell 6% in May. The equity market fell due to the escalating US-China trade war and rising tension between the US and Mexico. The tension also impacted oil prices. WTI fell 16% in May.

In June, Chevron stock has risen 10%. WTI has risen 7%, while SPY has risen 7%. The US-Mexico issue eased earlier in June. Investors expected the Fed to cut interest rates and boost markets.

Chevron stock has risen 1% in the second quarter. So far, Chevron stock has underperformed SPY.

Advertisement

More From Market Realist