Chevron stock hits 60-day high, with Libya operations expansion and performance improvement as the main drivers

China Business Network As of the close on February 11, 2026, Chevron (CVX.N) stock closed at $184.50, up 1.23% for the day, breaking a 60-day high. The opening price was $183.94, with a high of $185.62 and a low of $183.55, with an amplitude of 1.13%. The trading volume was approximately $324 million, with a volume ratio of 1.65, indicating active trading.

Reasons for Price Movement

Libya Business Expansion: On February 11, Chevron announced winning the onshore Block 106 contract in the Sirte Basin, Libya, and signed a memorandum of understanding with the Libyan National Oil Corporation to assess onshore drilling potential. This move aligns with the company’s strategy to expand its asset portfolio in North Africa and the Eastern Mediterranean.

Production and Cash Flow Improvement: According to the Q4 2025 financial report, the adjusted earnings per share were $1.52, exceeding market expectations by $0.14; production increased 20% year-over-year to 4.05 million barrels per day. Management emphasized achieving a cash flow inflection point in 2025 and plans for 7%-10% production growth in 2026.

Shareholder Return Measures: In 2025, the company paid $12.8 billion in dividends and repurchased $12.1 billion in shares, within the $10 billion to $20 billion guidance range. Over the past five years, cumulative buybacks and dividends exceeded $100 billion, strengthening investor confidence.

Sector and Market Correlation: The integrated oil and gas sector rose 1.63% on the day, the Dow Jones Industrial Average increased 0.12%, and energy stocks were supported by supply-demand fundamentals and geopolitical factors.

Institutional Views

As of February 2026, 53% of 30 institutions rated the stock as “Buy” or “Overweight,” with an average target price of $182.38. Institutions forecast Q1 2026 EPS of $1.499, down 30.51% year-over-year, but remain focused on the long-term potential of new projects in Guyana and the Eastern Mediterranean.

The above information is compiled from public sources and does not constitute investment advice.