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Chevron has signed lease agreements with the Hellenic Republic to explore four ultra deepwater offshore blocks in Greece through a consortium with HELLENiQ ENERGY.
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The new Greek acreage sits in a complex and underexplored basin that is viewed as having significant hydrocarbon potential.
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Chevron is also expanding its upstream footprint with recently announced acreage wins in Libya and other regional ventures.
For investors tracking NYSE:CVX, these moves come as the stock trades at $183.74, with returns of 17.9% year to date and 22.4% over the past year. Over a 5 year period, the stock shows a return of 127.7%, which places this expansion within a period of solid long term performance.
Chevron’s push into ultra deepwater Greece and fresh acreage in Libya reflects an effort to broaden its upstream portfolio and resource options. As these projects progress, investors are likely to focus on capital commitments, exploration outcomes, and how new findings might interact with the company’s existing global asset base.
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We’ve flagged 2 risks for Chevron. See which could impact your investment.
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⚖️ Price vs Analyst Target: At US$183.74, Chevron trades about 1.1% above the US$181.67 analyst price target, sitting close to consensus.
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✅ Simply Wall St Valuation: Simply Wall St estimates the shares are trading 51.2% below fair value, suggesting a wide valuation gap.
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✅ Recent Momentum: The 30 day return of 10.5% points to positive short term momentum as the expansion story develops.
There is only one way to know the right time to buy, sell or hold Chevron: review a detailed assessment. Head to Simply Wall St’s company report for the latest analysis of Chevron’s Fair Value.
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📊 Greece and Libya acreage expands Chevron’s resource options, which could reshape its long term production mix if exploration is successful.
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📊 Watch capital spending on these ultra deepwater projects, the P/E of 29.6 versus the Oil and Gas industry average of 14.5, and any updates to reserves and project timelines.
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⚠️ Two flagged risks, including insider selling and dividend coverage, mean you may want to keep an eye on capital returns alongside growth spending.
For the full picture, including more risks and potential rewards, check out the complete Chevron analysis. Alternatively, you can visit the community page for Chevron to see how other investors believe this latest news will impact the company’s narrative.