What's Going On With Chevron Shares Thursday?
Portfolio Pulse from Lekha Gupta
Chevron shares are trading higher after being granted a greenhouse gas assessment permit offshore Western Australia. The permit involves a joint venture with Woodside Energy and a pending stake transfer to GS Caltex. This complements Chevron's existing CCS projects and could expand its portfolio in Australia.
August 22, 2024 | 4:14 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Chevron's shares are up following the grant of a GHG assessment permit in Australia, enhancing its CCS portfolio. The joint venture with Woodside and potential stake transfer to GS Caltex are key developments.
The GHG assessment permit and joint venture with Woodside Energy are significant for Chevron's CCS strategy, likely boosting investor confidence and share price. The pending stake transfer to GS Caltex adds further interest.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to Chevron's positive developments through the EA Series Trust Strive U.S. Energy ETF, which includes Chevron in its holdings.
The ETF includes Chevron, which is experiencing positive developments, potentially benefiting the ETF's performance.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Woodside Energy holds a 30% interest in the joint venture with Chevron for the GHG assessment permit in Australia, potentially benefiting from the expansion of CCS projects.
Woodside Energy's involvement in the joint venture with Chevron for the GHG permit could enhance its CCS capabilities, potentially benefiting its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
SPDR Select Sector Fund – Energy Select Sector ETF includes Chevron, which is seeing positive developments from its new GHG permit in Australia.
The ETF's performance may benefit from Chevron's positive news, as Chevron is a component of the ETF.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50