Zacks.com users have recently been watching Chevron (CVX) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Chevron Corp (NYSE:CVX) is up 0.9% in premarket trading after announcing a 20-year agreement to supply natural gas-fired power to a Microsoft (MSFT) data center in West Texas.
The 2.7-gigawatt project will have its own on-site power plant fueled by Chevron's local natural-gas production.
The data center, called Project Kilby, is expected to consume nearly 2.7 gigawatts of electricity, which is equivalent to about 2 million homes. A majority of the electricity will come from large gas turbines provided by Chevron's partner GE Vernova.
Markets rarely telegraph structural shifts, but when a massive geopolitical risk premium evaporates overnight, the rerating is always violent. The unexpected diplomatic breakthrough between the United States and Iran has effectively broken the back of the crude rally.
At $180.40, Chevron (NYSE:CVX | CVX Price Prediction) sits in a wait-and-see zone for many analysts.
CVX completes regulatory steps to enter Greece's Block 10, expanding its Eastern Mediterranean footprint as the project moves toward advanced exploration.
In the latest trading session, Chevron (CVX) closed at $180.4, marking a -3.64% move from the previous day.
Chevron (NYSE:CVX | CVX Price Prediction) is an integrated energy major whose July 2025 Hess acquisition added Guyana, Bakken, and Gulf of America assets.
While prices at the pump in the U.S. were easing in late May, oil industry veterans were sounding the alarm on depleting inventories and a potential oil price spike. Since then, there have been media reports of more oil cargoes transiting the Strait of Hormuz.
CVX reportedly joins YPF and Pluspetrol to back TGS's $3B Argentina NGL project, boosting odds of a final investment decision.
Chevron Corp. is open to expanding its Middle East footprint despite the ongoing Iran conflict that has triggered an unprecedented disruption of global energy markets, said Chief Executive Officer Mike Wirth. He speaks to Annmarie Hordern at the Bloomberg Energy Security Executive Briefing in Houston.