Chevron Stock Edges Higher on Venezuela Expansion Talks and Strong Earnings

Chevron Corporation's stock price has risen to just under $200 as investors react to potential expansion talks in Venezuela and strong second-quarter 2026 earnings. The company is close to finalizing agreements with US energy groups to invest billions of dollars in rebuilding Venezuela's oil fields, potentially adding two new heavy oil fields to its existing operations.

The deal would deepen Chevron's Latin American footprint and add new long-lived resources to its portfolio, according to Bloomberg. The investment would be structured to rebuild production capacity while fitting within US regulatory constraints.

Chevron reported strong second-quarter 2026 earnings on July 31, with adjusted earnings per share of $6.06 beating consensus estimates by $0.51. Revenue grew 57.4% year-over-year to $67.2 billion, and operating cash flow reached $22.63 billion.

The company has been reducing its debt, paying down over $8 billion in the second quarter. Analysts expect Chevron to post earnings per share of 16.17 for fiscal year 2026.