New York, May 23, 2026, 14:02 EDT
- Chevron settled at $191.43 on Friday, ticking up 0.22%. The stock was almost unchanged for the week after some swings.
- U.S. markets are closed on Monday for Memorial Day. The next regular session is set for Tuesday.
- Brent crude finished over $100, with traders eyeing U.S.-Iran talks and the Strait of Hormuz. Oil majors stayed in the spotlight.
Chevron Corp. traded flat going into the long holiday weekend, with oil prices still high and criticism from California officials over pump prices. The company also disclosed in a filing that director John B. Hess sold a big stake.
Chevron Corporation shares finished Friday at $191.43, up 0.22%. The stock traded from $189.80 to $192.00 during the session. With the New York Stock Exchange closed for Memorial Day on Monday, May 25, investors have to wait until Tuesday for the next regular-session print.
Pause is key here. Chevron is facing two things that don’t usually go hand in hand. Higher crude prices can mean more profit for oil companies, but when gasoline gets expensive, politicians take notice—especially right before a big travel weekend.
Chevron shares had a choppy week. The stock finished Monday at $196.12 and $197.25 Tuesday, before dropping to $191.33 Wednesday and $191.01 Thursday. It inched up again on Friday. That left Chevron just a touch above its previous Friday finish of $191.10.
Stocks finished higher Friday. The S&P 500 was up 0.37%, the Dow Jones added 0.58%. Chevron outperformed with gains, while Exxon Mobil and ConocoPhillips fell during the session.
Oil prices kept focus on the stock. Brent ended Friday at $103.54 a barrel and West Texas Intermediate settled at $96.60. Both lost ground this week as traders weighed supply fears against the possibility of a U.S.-Iran deal.
Phil Flynn, senior analyst at Price Futures Group, said there’s a flood of headlines hitting the oil market. John Kilduff, partner at Again Capital, said prices are “subject to the headlines.” Investing.com
California Gov. Gavin Newsom’s office told drivers to skip Chevron stations over Memorial Day weekend, pointing to state energy commission data showing Chevron priced 60 to 80 cents higher per gallon than unbranded gas. The AP said California gas averaged $6.14 a gallon on Thursday, $1.58 above the national average.
Chevron pushed back. Spokesman Ross Allen said the company has been “very vocal” about customer education in California. Most Chevron stations in the state are run independently and set their own prices, according to AP. AP News
Chevron U.S.A. pushed its retail side this week, saying it’s rolling out a new Techron gasoline additive at Chevron and Texaco stations across the U.S. Andy Walz, who heads the company’s Downstream, Midstream and Chemicals business, said “fuel technology never stands still.” Business Wire
Traders got another data point to chew on from a separate filing. A Form 4 with the SEC on Friday showed Hess, who sits on Chevron’s board, sold 380,000 Chevron shares in a trust on May 20 at weighted averages between $191.5195 and $197.4498. The trust kept 278,045 shares after the sale. Insider selling alone doesn’t always signal trouble for a stock, but moves like this can still sour the mood when the tape’s already nervous.
Cue more attention next week. Chevron CEO Mike Wirth is booked to speak Thursday at Bernstein’s Strategic Decisions Conference. Proxy advisers are already calling out Chevron and Exxon as both companies approach shareholder meetings set for May 27.
Wall Street stays in. According to a TipRanks update on Robinhood, Morgan Stanley’s Devin McDermott increased his target on Chevron to $214, up from $212, and held his “Overweight” rating. That usually signals the analyst thinks the stock can top its peers. Robinhood
But things could shift quickly. If there’s a faster U.S.-Iran agreement or Brent drops, that crude price boost for Chevron might fade. Gas prices sticking higher might also keep Chevron in political trouble. Traders are keeping an eye on last week’s $189.00 intraday low if markets don’t stay calm over the holiday.
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