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Chevron

Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.0 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.7 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2024 stood at 9.8 billion barrels of oil equivalent, including 5.1 billion barrels of liquids and 28.4 trillion cubic feet of natural gas.

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Trump anuncia arancel del 25% al petróleo venezolano: ¿Qué impacto tendrá en los precios del crudo?

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China aumenta los aranceles sobre productos agrícolas y otros productos de EE.UU. en respuesta a las subidas arancelarias de Trump.

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Chevron Corp

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China's National Development and Reform Commission (NDRC), the country's top economic planning agency, is downplaying the impact of President Donald Trump's tariffs and projecting strong growth despite mounting macroeconomic headwinds.
What Happened: On Monday, Zhao Chenxin, Vice Head of the NDRC, said he was &#8220;fully confident&#8221; that China would meet its target of 5% economic growth in 2025, despite mounting uncertainties and warnings of a sharp downturn from leading analysts, according to a Reuters report.
&#8220;No Matter how the international situation changes, we will anchor our development goals, maintain strategic focus, and concentrate on doing our own thing,&#8221; Zhao said.
This comes amid a particularly difficult period for the Chinese economy, which is already reeling from deflation and a prolonged property crisis. 
At the same time, Torsten Slok, the Chief Economist at Apollo Global Management, joined the growing chorus of experts and eminent intellectuals in recent weeks by predicting a &#8220;90% chance we&#8217;ll have a recession&#8221; if the tariffs remain at their current levels.
Speaking on the Economics Matters podcast on Friday, Slok said that small businesses that account for 80% of employment in the U.S. and 80% of the capital expenditure will be hit hard by the tariffs.
See Also: <a href="https://www.benzinga.com/markets/equities/25/04/45033025/nvidia-faces-new-challenge-as-huawei-tests-powerful-ascend-910d-ai-chip-amid-us-sanctions-aiming-to-disrupt-high-end-market-report">Nvidia Faces New Challenge As Huawei Tests Powerful Ascend 910D AI Chip Amid US Sanctions, Aiming To Disrupt High-End Market: Report</a>
Why It Matters: Recession fears have continually edged higher throughout this past month, with economists, banks, and betting markets all pricing a <a href="https://benzinga.com/government/regulations/25/04/44801373/a-us-recession-in-2025-betting-odds-say-its-more-likely-than-not">high probability of a recession</a> this year.
There are, of course, others with a <a href="https://www.benzinga.com/25/04/44943850/chevron-ceo-sees-no-sign-of-recession-at-this-point-predicts-9-billion-in-free-cash-flow-by-2026">contrarian take on this</a>, such as the CEO of Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), who said last week that there were &#8220;no signs of a recession at this point.&#8221; 
Even the International Monetary Fund sees a slowdown in the global economy, but <a href="https://benzinga.com/markets/equities/25/04/44889521/recession-not-so-fast-says-imf-even-after-trump-tariff-chaos">stops short of forecasting a recession</a>, offering reassurance that the world can weather Washington&#8217;s tariff storm.
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<iframe loading="lazy" title="Apollo&#039;s Chief Economist, Torsten Slok, Estimates a 90 Percent Odds of Recession" width="500" height="281" src="https://www.youtube.com/embed/uuyWRT_B3n4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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As China Downplays Trump Tariffs With 5% Growth Target, Top Economist Warns Of '90% Chance Of A US Recession' Amid Trade War

CNBC&#8217;s Jim Cramer is preparing investors for another action-packed week on Wall Street, packed with earnings reports from major <a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener">tech players and key economic updates</a>.
On Friday, Cramer emphasized that this week investors should brace for financial updates from Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), alongside critical economic indicators, CNBC <a target="_blank" href="https://www.cnbc.com/2025/04/25/cramers-week-ahead-key-economic-data-and-big-tech-earnings.html" rel="noreferrer noopener">reports</a>.
Cramer warned that the uncertainty around tariff policy remains a major market risk.
Also Read: <a target="_blank" href="https://www.benzinga.com/trading-ideas/25/04/45012801/3-stocks-to-consider-in-this-outperforming-sector" rel="noreferrer noopener">3 Stocks To Consider In This Outperforming Sector</a>
Without meaningful progress on trade deals, he cautioned that Wall Street might struggle to absorb disappointing earnings, despite the recent market rally.
He described the coming days as &#8220;consequential,&#8221; noting that real trade negotiations must be sorted from political maneuvers to maintain investor confidence. CNBC quotes Cramer, &#8220;We're about to get into the weeds with tariffs.&#8221;
Among industrial names, Nucor Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) will post results Monday, with Cramer noting its position at the intersection of tariff discussions and recession concerns.
General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and United Parcel Service Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) will report Tuesday, offering potential insight into consumer demand and tariff effects on costs.
Meanwhile, consumer brands Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), and Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) will also share quarterly updates.
Wednesday brings earnings from Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>), a stock Cramer watches closely for infrastructure spending clues.
Tech giants Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) will release earnings midweek as well, with advertising trends and AI developments under scrutiny.
On Thursday, attention will turn to Apple and Amazon, with Cramer expecting Apple to pivot towards India and Amazon to highlight its retail and advertising strengths despite tariff pressures.
CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) and Eli Lilly and Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) will post results Thursday, with optimism centered on strong drug sales and insurance performance.
McDonald's Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) is also expected to report healthy growth amid a tough consumer environment.
To close out the week, Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) will report Friday, while the Labor Department&#8217;s nonfarm payrolls data could influence Federal Reserve rate-cut expectations, CNBC notes.
Read Next:
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Cramer's Warning: Tariff Chaos Could Derail Tech Earnings Frenzy This Week

Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) engages in the integrated energy and chemicals operations in the U.S. and internationally.
It will report its Q1 2025 earnings on May 2. Wall Street analysts expect the company to post EPS of $2.39, down from $2.93 in the prior-year period. According to data from Benzinga Pro, quarterly revenue is expected to be $48.41 billion, down from $48.72 billion a year earlier.
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The 52-week range of Chevron stock price was $132.04 to $168.96.
Chevron's dividend yield is 4.96%. It paid $6.84 per share in dividends during the last 12 months.
<h2 class="wp-block-heading">The Latest On Chevron</h2>
On Jan. 31, the company announced its Q4 2024 earnings, posting revenues and other income of $52.23 billion, beating the consensus of $46.75 billion, as reported by <a href="https://www.benzinga.com/25/01/43382627/chevron-falls-as-q4-profits-decline-amid-lower-oil-output-dividend-hike-offers-silver-lining">Benzinga</a>.
Adjusted net earnings were $3.63 billion, with adjusted EPS at $2.06 in the quarter, missing the consensus of $2.11.
"The company started up several key projects in the Gulf of America, including the industry-first, high-pressure Anchor project. In Kazakhstan, Tengizchevroil completed the Wellhead Pressure Management Project and recently started up the Future Growth Project," said CEO Mike Wirth.
Trending: It&#8217;s no wonder Jeff Bezos holds over $250 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
<h2 class="wp-block-heading">How Can You Earn $100 Per Month As A Chevron Investor?</h2>
If you want to make $100 per month — $1,200 annually — from Chevron dividends, your investment value needs to be approximately $24,194, which is around 180 shares at $134.18 each.&nbsp;
Understanding the dividend yield calculations: When making an estimate, you need two key variables — the desired annual income ($1,200) and the dividend yield (4.96% in this case). So, $1,200 / 0.0496= $24,194 to generate an income of $100 per month.
You can calculate the dividend yield by dividing the annual dividend payments by the current price of the stock.
The dividend yield can change over time. This is the outcome of fluctuating stock prices and dividend payments on a rolling basis.
See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.60 per share now</a>.
For instance, assume a stock that pays $2 as an annual dividend is priced at $50. Its dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). A drop in stock price to $40 will have an inverse effect and increase the dividend yield to 5% ($2/$40).
In summary, income-focused investors may find Chevron stock an attractive option for making a steady income of $100 per month by owning 180 shares of stock. There may be more upside to come as investors benefit from the company's consistent dividend hikes. Chevron has raised its dividend consecutively for the last 37 years.
Check out this <a href="https://www.benzinga.com/personal-finance/25/04/44890180/why-hp-altria-and-terreno-realty-are-winners-for-passive-income">article by Benzinga</a> for three more stocks offering high dividend yields.&nbsp;
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Image: Shutterstock

Personal Finance

Here's How You Can Earn $100 In Passive Income By Investing In Chevron Stock

When markets become moody, alternating between panic and euphoria, dividend stocks tend to offer a rare type of peace: predictability. For decades, they&#8217;ve provided a mix of income and stability that even the most flashy growth stocks can&#8217;t. And in that dividend-rich jungle, the Schwab U.S. Dividend Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHD#NYSE">SCHD</a>) is an <a href="https://www.benzinga.com/etfs">ETF kingpin</a>.
Let's talk receipts. Since its launch in 2011, SCHD has delivered total returns of 203%. That's not just "good-for-an-ETF" good—that's "maybe-I-should-rethink-my-investment-strategy" good. Along the way, it has consistently raised its dividend, even as markets fluctuated through pandemics, inflation tantrums and meme-stock mania.
Also Read: <a href="https://www.benzinga.com/25/04/44843179/the-dividend-etf-that-just-woke-up-and-why-investors-are-watching-closely">The Dividend ETF That Just Woke Up And Why Investors Are Watching Closely</a>
What's the secret sauce? SCHD holds a curated lineup of 100 high-quality, dividend-paying U.S. stocks. We're talking Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Altria (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MO#NYSE">MO</a>)—dividend legends, not one-hit wonders.
SCHD&#8217;s SEC 30-day yield is at 4.01%. That&#8217;s high. 
For perspective, as of 2015, <a href="https://www.benzinga.com/quote/SCHD/dividends">SCHD&#8217;s typical yield has stuck around 3%</a>, and before 2022, it rarely broke through that. Yet here we sit, with a yield comparable to high-yield savings accounts—albeit many times more intriguing in the near future. Why? Because HYSAs don&#8217;t have to contend with compounding. SCHD&#8217;s does.
The Catch
Well, like everything in life (and finance), there is a trade-off. SCHD&#8217;s price has been hit in 2025, down close to 6% year-to-date and 9.5% in the last six months. Its increasing yield is partly due to declining prices. But long-term investors look at that as a signal to buy. Particularly those in pursuit of not only current yield but yield on cost (return/yield based on original cost and not current market price).
Projecting forward, SCHD could offer a yield on cost of over 14% in 10 years, assuming its current growth pace holds. The math makes a compelling case for SCHD as a long-term income generator.
Low Fees, High Value
At a mere 0.06% expense ratio, SCHD isn&#8217;t only generous with dividends, it&#8217;s also notoriously cheap on fees. That leaves more cash where it belongs: in your wallet.
3 Other Dividend ETFs Worth Watching
If SCHD is the class valedictorian of dividend ETFs, here are two other top-of-the-class performers that deserve honorary degrees:
Vanguard High Dividend Yield ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VYM#NYSE">VYM</a>)
VYM targets U.S. businesses with higher-than-average dividend payouts and owns 589 holdings, so it&#8217;s more diversified than SCHD. Its current 30-day SEC yield is approximately 2.67%, and it has a bargain-basement expense ratio of only 0.06%. 
iShares Select Dividend ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DVY#NASDAQ">DVY</a>)
DVY goes the old-fashioned route, with a preference for utilities and industrials—your grandfather&#8217;s portfolio, but without the &#8220;old&#8221; part. It yields more than 3.7% and invests in stocks with a solid five-year history of paying dividends. With more than 100 holdings, it&#8217;s slightly more focused than VYM but offers a different sector bias that can complement a dividend portfolio. Expense ratio is 0.38%.
Bottom Line
While SCHD remains a standout stock for dividend growth, including VYM and DVY can add valuable diversity to your income strategy. Each provides something distinct in the way of dividend exposure—either more yield, defensive sector exposure, or longer-term consistency.
So if your portfolio needs a little less drama and a little more cash, consider making these dividend ETFs a permanent fixture at the table. Slow and steady wins the race—particularly when it pays you every quarter.
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iShares Dow Jones Select Dividend Index Fund

SCHD

SCHD Is Down, But Its Dividend Is Up And These 2 ETFs Are Quietly Catching Up

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Evercore ISI Group raised Mondelez International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>) price target from $67 to $70. Evercore ISI Group analyst David Palmer maintained an Outperform rating. Mondelez shares closed at $68.29 on Tuesday. <a href="https://www.benzinga.com/quote/MDLZ/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Barclays raised the price target for 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) from $160 to $164. Barclays analyst Julian Mitchell maintained an Overweight rating. 3M shares closed at $136.33 on Tuesday. See how other analysts <a href="https://www.benzinga.com/quote/MMM/analyst-ratings">view this stock</a>.</li>
<li>Jefferies cut Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) price target from $70 to $68. Jefferies analyst Akash Tewari maintained a Buy rating. Bristol-Myers Squibb shares closed at $49.82 on Tuesday. See how other analysts view<a href="https://www.benzinga.com/quote/BMY/analyst-ratings"> this stock</a>.</li>
<li>Canaccord Genuity cut the price target for Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) from $404 to $303. Canaccord Genuity analyst George Gianarikas maintained a Buy rating. Tesla shares closed at $237.97 on Tuesday. <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities boosted the price target for FirstEnergy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) from $42 to $45. B of A Securities analyst Julien Dumoulin-Smith upgraded the stock from Underperform to Neutral. FirstEnergy shares closed at $42.71 on Tuesday. <a href="https://www.benzinga.com/quote/FE/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird cut Moody&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCO#NYSE">MCO</a>) price target from $575 to $525. Baird analyst Jeffrey Meuler maintained an Outperform rating. Moody&#8217;s shares settled at $429.87 on Tuesday. <a href="https://www.benzinga.com/quote/MCO/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Redburn Atlantic slashed American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) price target from $270 to $255. Redburn Atlantic analyst Harry Bartlett upgraded the stock from Sell to Neutral. American Express shares closed at $252.42 on Tuesday. <a href="https://www.benzinga.com/quote/AXP/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Redburn Atlantic cut Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) price target from $156 to $124. Redburn Atlantic analyst Peter Low downgraded the stock from Neutral to Sell. Chevron shares closed at $137.30 on Tuesday.  <a href="https://www.benzinga.com/quote/CVX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Barclays cut the price target for Murphy Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUR#NYSE">MUR</a>) from $32 to $24. Barclays analyst Betty Jiang downgraded the stock from Equal-Weight to Underweight. Murphy Oil shares settled at $21.39 on Tuesday. <a href="https://www.benzinga.com/quote/MUR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Telsey Advisory Group slashed Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) price target from $275 to $235. Telsey Advisory Group analyst Joseph Feldman maintained an Outperform rating. Amazon shares closed at $173.18 on Tuesday. <a href="https://www.benzinga.com/quote/AMZN/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying TSLA stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/23095655/image-1-26-1024x576.png" alt="" class="wp-image-884299" style="width:519px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/23095655/image-1-26-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/23095655/image-1-26-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/23095655/image-1-26-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/23095655/image-1-26.png 1102w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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MDLZ

TSLA

Tesla To $303? Here Are 10 Top Analyst Forecasts For Wednesday

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>JP Morgan analyst Akhil Dattani downgraded the rating for Vodafone Group Public Limited Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VOD#NASDAQ">VOD</a>) from Neutral to Underweight. Vodafone shares closed at $9.58 on Tuesday. <a href="https://www.benzinga.com/quote/vod/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Barclays analyst Betty Jiang downgraded Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) from Overweight to Equal-Weight and lowered the price target from $171 to $152. Chevron shares closed at $137.30 on Tuesday. <a href="https://www.benzinga.com/quote/cvx/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wolfe Research analyst Darrin Peller downgraded the rating for Global Payments Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>) from Outperform to Peer Perform. Global Payments shares closed at $71.39 on Tuesday. <a href="https://www.benzinga.com/quote/gpn/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Barrington Research analyst James Goss downgraded Clear Channel Outdoor Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCO#NYSE">CCO</a>) from Outperform to Market Perform. Clear Channel Outdoor shares closed at $0.9788 on Tuesday. <a href="https://www.benzinga.com/quote/cco/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Citigroup analyst Jon Tower downgraded the rating for Texas Roadhouse, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NASDAQ">TXRH</a>) from Buy to Neutral and slashed the price target from $213 to $164. Texas Roadhouse shares closed at $162.95 on Tuesday.  <a href="https://www.benzinga.com/quote/txrh/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying VOD stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="580" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/23093533/image-1-25-1024x580.png" alt="" class="wp-image-884245" style="width:574px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/23093533/image-1-25-1024x580.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/23093533/image-1-25-300x170.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/23093533/image-1-25-768x435.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/23093533/image-1-25.png 1116w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Photo via Shutterstock

Downgrades

TXRH

This Vodafone Analyst Turns Bearish; Here Are Top 5 Downgrades For Wednesday

Redburn Atlantic analyst Peter Low downgrades Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) from Neutral to Sell and lowers the price target from $156 to $124.

Redburn Atlantic Downgrades Chevron to Sell, Lowers Price Target to $124

Barclays analyst Betty Jiang downgrades Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) from Overweight to Equal-Weight and lowers the price target from $171 to $152.

Barclays Downgrades Chevron to Equal-Weight, Lowers Price Target to $152

The CEO of&nbsp;Chevron Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), Mike Wirth, recently discussed the current dynamics of the oil industry, addressing the volatility of&nbsp;oil prices, capital expenditure strategies,&nbsp;and geopolitical challenges.
What Happened: Wirth attributed the recent dip in West Texas Intermediate (WTI) crude oil prices, nearing $60 per barrel, to expected demand slowdowns and increased supply. He cited macroeconomic uncertainties, particularly tariff and trade tensions, as the primary reasons for concerns about reduced global demand, in a recent interview with CNBC.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Chevron CEO Mike Wirth: No signs that we&#039;re in or close to a recession at this point" width="500" height="281" src="https://www.youtube.com/embed/I-Msj31oxKE?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
When asked about recession, the Chevron CEO stated, &#8220;..there&#8217;s no sign that we see at this point that we&#8217;re in or close to a recession.&#8221; However, he acknowledged slowing growth and volatility. 
Despite the market&#8217;s volatility, Wirth emphasized Chevron&#8217;s strong balance sheet and&nbsp;disciplined approach to capital expenditure. The company has proactively cut its capital expenditure&nbsp;by $1 billion for 2025&nbsp;and announced cost reductions of&nbsp;$2-3 billion over the next&nbsp;two years.
The CEO also stated at $70 per barrel crude oil price, they expect $10 billion of incremental free cash flow growth in 2025-26, while at $60 per barrel, the free cash flow expectation is at $9 billion.
On tariffs, Wirth downplayed their&nbsp;direct impact on Chevron, acknowledging&nbsp;potential indirect effects through macroeconomic&nbsp;shifts and global trade dynamics. He also highlighted the administration&#8217;s&nbsp;supportive energy policies, which recognize&nbsp;the U.S.&#8217;s&nbsp;abundant energy resources as a&nbsp;driver of economic prosperity, energy&nbsp;security, and national security.
SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/25/04/44942449/trump-pledges-substantial-cut-in-china-tariffs-but-refuses-to-make-it-zero-if-they-dont-make-a-deal-we-will-set-the-deal" target="_blank" rel="noreferrer noopener">Trump Pledges &#8216;Substantial&#8217; Cut In China Tariffs, But Refuses To Make It &#8216;Zero:&#8217; &#8216;If They Don&#8217;t Make A Deal, We Will Set The Deal&#8217; &#8211; Benzinga</a>
Why It Matters: Wirth&#8217;s comments come in the wake of Chevron&#8217;s ongoing negotiations with the Trump administration over its operations in Venezuela. Wirth has been <a href="https://www.benzinga.com/markets/25/03/44415905/chevron-ceo-reportedly-seeks-trumps-support-for-venezuela-exit-extension">engaging </a>with Trump's cabinet members, including Secretary of State Marco Rubio and Treasury Secretary Scott Bessent, seeking an extension to wind down the company's operations in the country. In Tuesday&#8217;s interview, he described the situation as complex and noted that Chevron&nbsp;is engaging with the U.S.&nbsp;Department of Treasury to advocate for maintaining its presence.
Furthermore, the impact of trade tensions between the U.S. and China on the <a href="https://www.benzinga.com/news/global/25/04/44860334/china-cuts-us-oil-purchases-by-90-boosts-imports-from-canada-to-new-heights">oil industry </a>cannot be overlooked. Recent reports indicated that Chinese refiners have cut their U.S. oil imports by approximately 90% since 2023 due to escalating trade tensions, turning instead to Canadian crude.
Chevron holds a value rating of 80.91% and a growth rating of 35.05%, according to&nbsp;<a href="https://www.benzinga.com/quote/CVX" target="_blank" rel="noreferrer noopener">Benzinga's Proprietary Edge Rankings</a>. For an in-depth report on more stocks and insights into growth opportunities,&nbsp;<a href="https://www.benzinga.com/screener/top-momentum-stocks" target="_blank" rel="noreferrer noopener">sign</a>&nbsp;<a href="https://www.benzinga.com/screener/top-momentum-stocks" target="_blank" rel="noreferrer noopener">up for Benzinga Edge.</a>
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<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/asia/25/04/44932342/taiwan-semiconductors-arizona-factory-faces-441-million-loss-amid-supply-chain-labor-cost-challenges" target="_blank" rel="noreferrer noopener">Taiwan Semiconductor&#8217;s Arizona Factory Faces $441 Million Loss Amid Supply Chain, Labor Cost Challenges</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Chevron CEO Sees 'No Sign' Of Recession At This Point, Predicts Up To $10 billion In Free Cash Flow By 2026

Companies with a long history of paying dividends and consistently hiking them remain appealing to income-focused investors. Johnson &amp; Johnson, Chevron, and Flowers Foods have rewarded shareholders for years and recently announced dividend increases. These companies currently offer dividend yields of around 3% to 5%.
Johnson &amp; Johnson
Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) engages in the research and development, manufacture, and sale of various products in the healthcare field worldwide.
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Johnson &amp; Johnson has increased its dividends every year for the last 63 years. In its most recent dividend hike announcement on April 15, its board raised the quarterly payout by 4.80% to $1.30 per share, which is equal to an annual figure of $5.20 per share. Currently, the dividend yield on the stock stands at 3.38%.
Johnson &amp; Johnson's annual revenue as of Dec. 31 stood at $88.82 billion. According to the company&#8217;s Q1 2025 earnings release on April 15, it posted revenues of $21.89 billion and EPS of $2.77, both beating the consensus estimates.
Check out this <a href="https://www.benzinga.com/insights/short-sellers/25/04/44844459/how-is-the-market-feeling-about-johnson-johnson">article by Benzinga</a> to learn how the market is feeling about Johnson &amp; Johnson.
Trending: The secret weapon in billionaire investor portfolios that you almost certainly don't own yet. <a href="https://www.benzinga.com/money/masterworks">See which asset class has outpaced the S&amp;P 500 (1995-2024) – and with near-zero correlation.</a>
Chevron
Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) engages in the integrated energy and chemicals operations in the U.S. and internationally.
Chevron has raised its dividends consecutively for the last 37 years. In its latest dividend announcement on Jan. 31, the company's board increased the quarterly payout by 5% to $1.71 per share, equaling an annual figure of $6.84 per share. Currently, the dividend yield on the stock is 5.05%.
The company's annual revenue as of Dec. 31 stood at $193.41 billion. In its Q4 2024 earnings report on Jan. 31, Chevron posted revenues of $52.23 billion, beating the consensus estimate of $48.41 billion, while EPS of $2.06 came in below the consensus of $2.11.
Check out this <a href="https://www.benzinga.com/insights/news/25/03/44358250/100-invested-in-chevron-5-years-ago-would-be-worth-this-much-today">article by Benzinga</a> to see how much $100 invested in Chevron five years ago would be worth today.&nbsp;
See Also: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.60 per share now</a>.
Flowers Foods
Flowers Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLO#NYSE">FLO</a>) produces and markets packaged bakery food products in the U.S. It distributes its products through a direct-store-delivery distribution and a warehouse delivery system, as well as operates bakeries.
Flowers Foods has raised its dividends consecutively for the last 11 years. In its most recent dividend hike announcement on May 23, it increased the quarterly payout by 4.3% to $0.24 per share, equal to an annual figure of $0.96 per share. More recently, in its dividend announcement on Feb. 14, the company maintained the payout at the same level. Currently, the dividend yield on the stock is 5.34%.
The company&#8217;s annual revenue as of Dec. 31 stood at $5.10 billion. In its most recent earnings report on Feb. 7, the company posted Q4 2024 revenues of $1.11 billion, below the consensus estimate of $1.13 billion, while EPS of $0.22 beat the consensus of $0.21.
Johnson &amp; Johnson, Chevron, and Flowers Foods are good choices for investors seeking reliable passive income. Their dividend yields of around 3% to 5% and long history of consistent hikes make them attractive to income-focused investors.
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Image: Shutterstock

Why Johnson & Johnson, Chevron, And Flowers Foods Are Winners For Passive Income

WIIM

EQNR

FANG

HESM

SHEL

Shares of energy stocks are trading higher as the price of oil rises. Oil has gained amid overall market strength following US Treasury Secretary Scott Bessent's reported remarks about trade de-escalation with China. Recent Iran sanctions may also be driving supply uncertainty.

Financial giants have made a conspicuous bullish move on Chevron. Our analysis of options history for Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) revealed 9 unusual trades.
Delving into the details, we found 66% of traders were bullish, while 22% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $213,946, and 4 were calls, valued at $157,200.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $90.0 to $145.0 for Chevron over the recent three months. 
<h3>Insights into Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Chevron options trades today is 1355.56 with a total volume of 1,219.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Chevron's big money trades within a strike price range of $90.0 to $145.0 over the last 30 days.
<h3>Chevron Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1745337714_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/02/25</td>
<td>$1.18</td>
<td>$1.08</td>
<td>$1.16</td>
<td>$130.00</td>
<td>$98.2K</td>
<td>148</td>
<td align="right">857</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/20/25</td>
<td>$10.4</td>
<td>$10.2</td>
<td>$10.3</td>
<td>$130.00</td>
<td>$48.4K</td>
<td>382</td>
<td align="right">69</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$47.0</td>
<td>$44.55</td>
<td>$47.0</td>
<td>$90.00</td>
<td>$47.0K</td>
<td>28</td>
<td align="right">0</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$6.85</td>
<td>$6.75</td>
<td>$6.85</td>
<td>$135.00</td>
<td>$34.2K</td>
<td>1.6K</td>
<td align="right">64</td>
</tr>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$9.0</td>
<td>$8.9</td>
<td>$8.9</td>
<td>$140.00</td>
<td>$33.8K</td>
<td>8.6K</td>
<td align="right">79</td>
</tr>
</tbody>
</table>

<h3>About Chevron</h3>
Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.0 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.7 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2024 stood at 9.8 billion barrels of oil equivalent, including 5.1 billion barrels of liquids and 28.4 trillion cubic feet of natural gas.
After a thorough review of the options trading surrounding Chevron, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Chevron's Current Market Status</h3>
<ul>
<li>With a volume of 2,232,866, the price of CVX is up 2.04% at $136.46. </li>
<li>RSI indicators hint that the underlying stock may be approaching oversold.</li>
<li>Next earnings are expected to be released in 10 days.</li>
</ul>
<h3>What Analysts Are Saying About Chevron</h3>
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $167.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; An analyst from UBS persists with their Buy rating on Chevron, maintaining a target price of $185. 
&#x2A; An analyst from Scotiabank downgraded its action to Sector Perform with a price target of $143. 
&#x2A; An analyst from Wells Fargo has decided to maintain their Overweight rating on Chevron, which currently sits at a price target of $173. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Chevron with <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> for real-time alerts.

Options

Spotlight on Chevron: Analyzing the Surge in Options Activity

Chevron CEO Wirth Says Reaction To Trade Issues Has Led To Expectation Of Reduced Oil Demand

Shares of energy stocks are trading lower as oil falls amid US-Iran talks.

Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) disclosed on Monday that it started oil and gas production from its Ballymore subsea tieback <a href="https://www.benzinga.com/pressreleases/25/04/b44896167/chevron-starts-oil-production-from-ballymore-project-in-gulf-of-america" target="_blank" rel="noreferrer noopener">in the deepwater Gulf of Mexico</a>.
Chevron U.S.A. Inc. operates the project with a 60% stake, while TotalEnergies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) E&amp;P USA, Inc. holds the remaining 40%.
This project, launched in May 2022 and connected to the existing Blind Faith platform, has a total daily gross production capacity of up to 75,000 gross barrels of oil per day and 50&nbsp;million cubic feet of gas per day.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/03/44149967/analyst-updates-chevrons-investors-after-meeting-highlighted-expansion-plans-and-cost-discipline" rel="noreferrer noopener">Chevron Meeting Takeaways: Goldman Sachs Analyst Highlights Expectations For Volume And FCF Inflection</a>
The Ballymore project, located in the Mississippi Canyon in roughly 6,600 feet of water and about 160 miles southeast of New Orleans, marks Chevron's first development in the Norphlet trend.
It is expected to yield an estimated 150 million barrels of oil equivalent gross over its lifetime.
Ballymore marks another milestone in Chevron's plan to reach 300,000 net barrels per day of oil equivalent from the Gulf by 2026.
This event aligns with Chevron&#8217;s focus on expanding its presence in the region.
Nicolas Terraz, president of Exploration &amp; Production at TotalEnergies added, "The start-up of Ballymore will increase TotalEnergies' production capacity in U.S. deepwater to more than 75,000 boe/d and contribute to the Company's targeted hydrocarbon production growth <a href="https://totalenergies.com/news/press-releases/united-states-first-oil-ballymore-offshore-field">of </a>over 3% in 2025"
This month, Chevron finalized a deal to sell a 70% stake&nbsp;in its East Texas natural gas assets to&nbsp;TG Natural Resources LLC&nbsp;(TGNR), an entity backed by&nbsp;Tokyo Gas Co., Ltd.&nbsp;and&nbsp;Castleton Commodities International <a target="_blank" href="https://www.benzinga.com/25/04/44583601/chevron-sells-70-stake-in-east-texas-gas-assets-for-525m" rel="noreferrer noopener">LLC</a><a target="_blank" href="https://www.benzinga.com/25/04/44583601/chevron-sells-70-stake-in-east-texas-gas-assets-for-525m" rel="noreferrer noopener">&nbsp;(CCI), valued at $525 million</a>.
Investors can gain exposure to CVX via EA Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and SPDR Select Sector Fund – Energy Select Sector (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).
Price Action: CVX shares are down 0.78% at $136.80 premarket at the last check Monday.
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Photo: Shutterstock

DRLL

Chevron & TotalEnergies Fire Up Ballymore: Deepwater Gulf Project Targeting 150 Million Barrels Over Life

Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) announced today that it started oil and natural gas production from the Ballymore subsea tieback in the deepwater Gulf of America. Ballymore, the latest in a series of Chevron projects to start up in the past year, represents another step towards the company's goal to produce 300,000 net barrels per day of oil equivalent from the Gulf in 2026. Ballymore is expected to produce up to 75,000 gross barrels of oil per day through three wells tied back three miles to the existing Chevron-operated Blind Faith facility.
"Ballymore is an example of how we are leveraging technology and driving efficiencies to help produce affordable, reliable energy from the deepwater Gulf of America, one of the lowest carbon intensity oil and gas producing basins in the world," said Brent Gros, vice president, Chevron Gulf of America. "Ballymore, which was completed on time and on budget, brings additional production online without building a new standalone offshore platform. This reduces our development costs and is expected to drive higher returns for shareholders."
Chevron is a leading leaseholder in the Gulf and continues to actively pursue opportunities for growth in the basin. Since midyear 2024, Chevron has started production from its industry-first Anchor project and non-operated Whale project and commenced water injection to boost output at its operated Tahiti and Jack/St. Malo facilities.

Chevron Announces It Has Started Oil Production From Ballymore Project. Project Expected To Produce 300K net Barrels Per Day Of Oil Equivalent In 2026

Wall Street saw a rebound in risk appetite on Thursday ahead of the long Easter weekend, as President Donald Trump signaled positive <a href="https://www.benzinga.com/topic/donald-trump">momentum in trade negotiations.</a>
Speaking ahead of a scheduled meeting with Italian Prime Minister Giorgia Meloni, Trump expressed strong confidence in reaching a trade agreement with the European Union. He also hinted at progress with China, stating, "We will make a good deal with China." 
Meanwhile, U.S. Treasury Secretary Scott Bessent noted that trade talks with Japan are moving in a highly satisfactory direction.
By midday in New York, the S&amp;P 500 had climbed 0.9%, while the Nasdaq 100 gained 0.5%, recouping some losses after a 3% slide on Wednesday. The Dow Jones, however, slipped 0.9%, weighed down by a sharp 23% plunge in UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) after the company slashed its full-year earnings forecast.
Energy stocks led the day&#8217;s gains, buoyed by rising oil prices. Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) rallied 4.1%, while Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) advanced 3.5%.
Gold prices retreated nearly 1% after a strong multi-day rally, pressured by a firmer U.S. dollar and rising Treasury yields. The 10-year Treasury yield climbed six basis points to 4.34%.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) edged up 0.9% to $85,000.
<h1 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg (%)</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,884.35</td>
<td>1.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,323.43</td>
<td>0.9%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,357.77</td>
<td>0.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,441.72</td>
<td colspan="2">-0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated by 12:55 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.8% to $530.09.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 0.7% to $394.05.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;rose 0.5% to $446.19.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) soared 1% to $186.67.</li>
<li>The&nbsp;Energt&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 3.5%; the&nbsp;Health Care&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 0.1%.</li>
</ul>
<h1 class="wp-block-heading">Thursday&#8217;s Stock Movers</h1>
<ul>
<li>Eli Lilly Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) surged 16% after announcing that its oral GLP-1 receptor agonist, Orforglipron, successfully completed Phase 3 trials without requiring food or water restrictions.</li>
<li>Fidelity National Information Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>) jumped 9% after announcing a $13.5 billion deal to acquire Global Payments Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>)&#8217;s Issuer Solutions business. The move is aimed at bolstering FIS's fintech capabilities and is expected to generate over $125 million in annual revenue synergies. Shares of GPN tumbled 15%. </li>
<li>Companies reacting to earnings reports included American Express Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), up 0.5%; Blackstone Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), up 1.9%; Charles Schwab Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>), up 2.7%; Marsh &amp; McLennan Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>) down 3.3%; Truist Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>), up 1.3%; State Street Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>), up 3.2%; KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>), up 3.7% and Huntington Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HBAN#NASDAQ">HBAN</a>), up 4%.</li>
<li>Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) rose 2% ahead of the earnings report, which is slated for release after the market close. </li>
</ul>
Read Now: 
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<li><a href="https://www.benzinga.com/general/health-care/25/04/44869920/unitedhealth-ceo-says-high-cost-of-us-health-care-simply-not-sustainable">UnitedHealth CEO Says High Cost Of US Health Care &#8216;Simply Not Sustainable&#8217;</a></li>
</ul>
Photo: Shutterstock

Macro Economic Events

Broad U.S. Equity ETFs

$BTC

SPDR Dow Jones Industrial Average ETF Trust

HBAN

NFLX

SCHW

Wall Street Rebounds, Eli Lilly Rallies, UnitedHealth Group Plummets: What's Driving Markets Thursday?

MTDR

Shares of energy stocks are up as oil prices rise amid US sanctions on Iran.

As <a href="https://www.benzinga.com/news/global/25/04/44856008/china-dismisses-trumps-tariff-numbers-game-files-wto-complaint-talks-can-only-proceed-based-on-mutual-respect">US-China trade tensions</a> continue to escalate, Chinese refiners have cut their U.S. oil imports, while imports of Canadian crude have reached record highs
What happened: Imports of U.S. oil by China have plunged roughly 90% since 2023, falling from a peak of 29 million barrels per month to just 3 million, according to Vortexa Ltd. data, <a href="https://www.bloomberg.com/news/articles/2025-04-16/china-pivots-from-us-to-canada-for-more-oil-as-trade-war-worsens">reported</a> Bloomberg. In March, China imported 7.3 million barrels of <a href="https://www.benzinga.com/markets/25/04/44855903/scott-bessent-warns-of-serious-risk-to-anyone-buying-iran-oil-crude-moves-up-us-futures-and-nikkei-post-modest-gains">crude</a> from Canada's Vancouver port.
This figure is expected to rise even more this month. This shift follows the completion of the Trans Mountain Pipeline Expansion (TMX) in late 2023, which added 590,000 barrels per day of export capacity and gave Alberta's landlocked oil sands direct access to Asian markets.
Why it matters: China's shift to Canadian oil highlights the larger impact of the<a href="https://in.benzinga.com/markets/25/04/44831287/trump-administration-imposes-up-to-245-tariff-on-chinese-imports-amid-intensifying-trade-battle"> current trade conflict</a> between the Donald Trump administration and Team Xi Jinping. For investors, the emergence of Canada as a key supplier to China signals a structural shift in North American oil fundamentals, with implications for companies such as Canadian Natural Resources Ltd., Cenovus Energy Inc., and U.S. majors like Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>).
See Also: <a href="https://www.benzinga.com/25/04/44858847/nancy-pelosi-called-us-china-trade-a-job-loserold-remarks-reemerge-amid-trump-tariff-push">Nancy Pelosi Called US-China Trade &#8220;A Job Loser:&#8221; Old Remarks Reemerge Amid Trump Tariff Push</a>
This move is also strategically significant for China's refineries, which gain from the comparatively inexpensive and dense oil available from Canada's oilsands. Wenran Jiang, president of the Canada-China Energy &amp; Environment Forum, stated, "Given the trade war, it's unlikely for China to import more <a href="https://www.benzinga.com/news/buybacks/25/04/44853647/northern-oil-and-gas-stock-climbs-on-q1-hedging-results-shareholder-return-update-what-you-need-to-know">US oil</a>."
Oil prices witnessed a rally on early Thursday, with Brent Crude Oil up 0.85%, now trading at $66.42 per barrel, and the WTI Futures up by 1.06%.
Read Next: <a href="https://www.benzinga.com/tech/25/04/44856114/nvidia-says-it-follows-us-government-instructions-on-what-it-can-sell-and-where-amid-trade-war-escalation-with-china">Nvidia Says It Follows US Government Instructions On What It Can Sell And Where Amid Trade War Escalation With China</a>
Image via Shutterstock

China Slashes US Oil Imports By 90% Amid Trump Tariffs, Turns To Canada Instead

Deep-pocketed investors have adopted a bearish approach towards Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CVX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 34 extraordinary options activities for Chevron. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 41% leaning bullish and 52% bearish. Among these notable options, 17 are puts, totaling $1,283,216, and 17 are calls, amounting to $646,037.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $85.0 to $165.0 for Chevron over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Chevron options trades today is 1454.11 with a total volume of 6,558.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Chevron's big money trades within a strike price range of $85.0 to $165.0 over the last 30 days.
<h3>Chevron Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1744830076_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$7.2</td>
<td>$7.05</td>
<td>$7.2</td>
<td>$135.00</td>
<td>$347.0K</td>
<td>3.9K</td>
<td align="right">513</td>
</tr>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$4.8</td>
<td>$4.6</td>
<td>$4.64</td>
<td>$110.00</td>
<td>$151.2K</td>
<td>1.9K</td>
<td align="right">326</td>
</tr>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$6.6</td>
<td>$6.5</td>
<td>$6.6</td>
<td>$140.00</td>
<td>$145.8K</td>
<td>1.8K</td>
<td align="right">223</td>
</tr>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$25.8</td>
<td>$25.75</td>
<td>$25.8</td>
<td>$160.00</td>
<td>$85.1K</td>
<td>1.7K</td>
<td align="right">1</td>
</tr>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/20/26</td>
<td>$5.7</td>
<td>$5.55</td>
<td>$5.55</td>
<td>$110.00</td>
<td>$72.7K</td>
<td>299</td>
<td align="right">156</td>
</tr>
</tbody>
</table>

<h3>About Chevron</h3>
Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.1 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.8 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2023 stood at 11.1 billion barrels of oil equivalent, including 6.0 billion barrels of liquids and 30.4 trillion cubic feet of natural gas.
In light of the recent options history for Chevron, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Where Is Chevron Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 5,390,216, with CVX's price up by 1.03%, positioned at $135.93.</li>
<li>RSI indicators show the stock to be may be oversold.</li>
<li>Earnings announcement expected in 16 days.</li>
</ul>
<h3>Expert Opinions on Chevron</h3>
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $167.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; An analyst from Wells Fargo persists with their Overweight rating on Chevron, maintaining a target price of $173. 
&#x2A; An analyst from UBS persists with their Buy rating on Chevron, maintaining a target price of $185. 
&#x2A; In a cautious move, an analyst from Scotiabank downgraded its rating to Sector Perform, setting a price target of $143. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Chevron with <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> for real-time alerts.

Chevron's Options Frenzy: What You Need to Know

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Engine No. 1, Chevron, and GE Vernova to Power U.S. Data Centers

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Advisory: Chevron to Present at Piper Sandler 25th Annual Energy Conference

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Elk Range Royalties Closes Landmark DJ Basin Acquisition and Launches Elk Range Royalties III

Chevron Announces Sale of Majority Interest in its East Texas Gas Assets

Advisory: Chevron Corporation's 1Q 2025 Earnings Conference Call and Webcast

Chevron Starts Oil Production From Ballymore Project in Gulf of America

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