Chevron (CVX) Soars 5.1%: Is Further Upside Left in the Stock?

Group 1 - Chevron's shares increased by 5.1% to $163.85, with a higher-than-average trading volume, compared to a 3.9% gain over the past four weeks [1] - The stock's rise is attributed to optimism regarding potential expanded operations in Venezuela following recent U.S. actions involving President Nicolás Maduro, positioning Chevron uniquely in the market [2] - Chevron currently produces about 200,000 barrels per day from its Venezuelan joint ventures, supported by a U.S. Office of Foreign Assets Control license since 2022 [2] Group 2 - The upcoming quarterly earnings report for Chevron is expected to show earnings of $1.54 per share, reflecting a year-over-year decline of 25.2%, while revenues are projected at $53.61 billion, a 2.7% increase from the previous year [3] - The consensus EPS estimate for Chevron has been revised down by 7.2% over the last 30 days, indicating a negative trend in earnings estimate revisions, which typically does not lead to price appreciation [4] - Chevron holds a Zacks Rank of 3 (Hold), indicating a neutral outlook, while another company in the same industry, Petrobras, has also maintained a Zacks Rank of 3 [5][6]