Chevron Corporation (NYSE: CVX) today announced an investment in Baseload Capital AB, a Sweden-based private investment company focused on development and operation of low-temperature geothermal and heat power assets.
Chevron (CVX) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
At the close of trading on Friday, shares of Phillips 66 (NYSE: PSX), ExxonMobil (NYSE: XOM), and Chevron (NYSE: CVX) were down 2%, 2.6%, and 2.5%, respectively. Such over-and-above cooperation on the oil market speaks strongly toward the likelihood that supply will remain constrained enough to support higher prices -- which should be good news for oil stocks. Again, that's not what one would ordinarily call good news, unless you own oil stocks.