Why I Just Bought More of This Top Oil Stock

Chevron can thrive even if its upside catalysts don't materialize.Oil prices are up sharply this year. Brent crude, the global oil price benchmark, has surged from $75 in early January to over $90 a barrel in recent days, a more than 15% rally. That has sent up most energy stocks, with the Energy Select SPDR ETF rising nearly as much as crude oil. However, one notable laggard has been oil giant Chevron (CVX 0.08%), which is only up around 5% this year. It has significantly underperformed other energy stocks ...