Chevron Stock Holds Firm Above $205 on Angola Discovery and Strong Q2 Results

Chevron's stock price has remained above $205 after the company announced a significant oil and gas condensate discovery in Angola. The well, located at Block 0, encountered over 600 meters of hydrocarbons with more than 90 meters of net pay.

The second-quarter 2026 results exceeded expectations, with adjusted earnings per share (EPS) of $6.06 and revenue of $67.2 billion. This represents a 57.4 percent increase in revenue compared to the same period last year.

Chevron also increased its quarterly dividend to $1.78 per share, equal to $7.12 annualized, resulting in an indicated yield of 3.5 percent at recent price levels.