Chevron has reported earnings that surpassed market expectations, leading to a rise in its stock price. Despite this positive news, the overall profit has declined due to falling oil prices. The company’s refining segment showed recovery from the previous quarter, aligning with Wall Street’s profit estimates. As major oil companies like Exxon and Chevron face sluggish earnings growth amid global trade tensions, analysts are cautious about future performance. This situation is prompting investors to reconsider their positions in the oil sector.
— new from Barron’s