Chevron: Curious Rally
Chevron now trades at the highs in nearly a year.
The company still needs a substantial rally in oil prices in order to meet capital spending and dividend targets.
The rebound in the stock price far exceeds the slight rebound in the price of oil.
The latest rally in the energy firms is very curious. A stock like Chevron (NYSE:CVX) now trades at the highs going back for nearly a year while oil is only creeping above year-end lows.
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