Chevron Corporation (NYSE: CVX) shares are up 1.2% on Thursday, March 19, as geopolitical developments continue to prop the stock.
Indeed, CVX is up around 28% since the beginning of the year, trading just north of $200 at the time of writing.
The biggest tailwinds have, of course, been the oil giant’s joint ventures with PDVSA, the national oil company in Venezuela, where the American partner produces about 200,000 barrels per day.
At the same time, conflicts in the Middle East, as well as rising crude prices that came as a result, are turning investor attention toward energy names.
How much would you have if you invested $1,000 in Chevron stock at the start of 2026?
At the start of 2026, Chevron shares were changing hands at just under $159. Accordingly, an investor who put $1,000 into Chevron stock around New Year’s would now be sitting on a notable gain.
More specifically, based on the current price, a $1,000 investment would now be worth about $1,280, excluding any dividends paid during the period.
For comparison, some of Chevron’s competitors, such as Enbridge (TSE: ENB) and Enterprise Products (NYSE: EPD), are up only 12% and 15% over the same year-to-date (YTD) period, respectively.
Chevron share outlook
While the gains this quarter have been more than solid, some of the company’s technicals do remain volatile. For example, the relative strength index (RSI) at 72 implies stretched momentum following recent gains.
A decisive move above $205.00 could confirm a new bullish breakout, while a drop below $197.00 may signal profit-taking as traders react to overbought conditions.
A potential catalyst for further growth now appears to be the plan to expand Chevron’s flagship Petropiar project in the Orinoco Belt, which would allow it to boost production and exports.
Featured image via Shutterstock
