Chevron Corporation saw its stock price rise in post-market trading Monday, gaining approximately 0.9% to $182.60. The move followed a stronger regular session where shares traded between $179.98 and $182.81 on volume near 12 million shares.
The energy giant's performance mirrored a broader uptick in oil markets, with crude prices settling more than 1% higher. This increase was partly attributed to geopolitical tensions, after the U.S. Department of Transportation advised American-flagged vessels to maintain maximum distance from Iranian waters in key shipping lanes.
Tengiz Field Recovery Progress
Output at the Chevron-operated Tengiz oilfield in Kazakhstan has recovered to roughly 60% of its peak capacity, according to industry sources. Production reached about 550,000 barrels per day on February 8, with the field aiming to return to its full output of approximately 950,000 barrels per day by February 23.
Chevron traded in line with sector peers in late activity. Exxon Mobil advanced around 1.4%, ConocoPhillips picked up about 1%, and BP edged up roughly 0.5%.
Market Catalysts Ahead
Investors are now looking to several near-term catalysts. Chevron's ex-dividend date is set for February 17, with a $1.78 per share payout scheduled for March 10. Additionally, the market awaits the U.S. Energy Information Administration's weekly petroleum status report due Wednesday, February 11, which often influences crude prices and energy equities.
Analysts note that Chevron's cash flow remains closely tied to oil and gas prices, with traders assessing whether ongoing geopolitical risks are adding a sustained premium to crude. However, a swift easing of tensions could reverse recent gains, and field restarts following operational disruptions often face challenges.
