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Chevron Stock Rises 1% in Q2, Underperforms SPY


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.

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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.


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