Chevron (CVX) News Today

Chevron Corporation (NYSE:CVX) shares are trading higher today amid mixed company‐ and industry‐specific developments. Investors are monitoring new leadership appointments, strategic offshore opportunities, regulatory assurances, restart efforts after a refinery fire, and analyst moves on price targets.

• Positive Sentiment: Peru’s minister highlighted potential investment from Saudi Arabia and Chevron to develop offshore energy resources, underscoring new growth prospects for CVX. Peru minister touts Saudi mining interest, Chevron offshore potential
• Positive Sentiment: Chevron appointed Kevin McLachlan as Vice President of Exploration (with Liz Schwarze retiring), strengthening its leadership team in upstream operations. Chevron names Kevin McLachlan as VP of exploration
• Neutral Sentiment: The newly introduced Route 66 National Historic Trail Designation Act explicitly ensures that energy development—including Chevron’s projects—will not be hindered by the trail’s creation. Route 66 National Historic Trail Designation Act
• Neutral Sentiment: Chevron is working to restart production units at its El Segundo refinery following a fire, aiming to restore output levels in California’s key gasoline market. Chevron working to restart units at El Segundo refinery after fire
• Negative Sentiment: Barclays cut its price target on CVX from $160 to $158 and maintained an “equal weight” rating, signaling limited near‐term upside. Chevron price target lowered to $158 from $160 at Barclays
• Negative Sentiment: A massive fire at the El Segundo refinery has shocked California’s gasoline market, raising concerns about regional supply tightness. California’s gasoline market faces new shock after Chevron blaze
• Negative Sentiment: Residents filed a class‐action lawsuit over health issues linked to smoke and pollutants from the El Segundo refinery explosion, exposing Chevron to potential legal costs. Neighbors to Chevron El Segundo Refinery Fire File Suit