Why Chevron's Stock Is Trading Higher Today

Chevron CVX shares are trading higher on Monday after Bank of America upgraded the stock from Neutral to Buy.

Chevron is an integrated energy company with exploration, production, and refining operations worldwide. Chevron is the second-largest oil company in the United States with production of 3.2 million of barrels of oil equivalent a day, including 7.6 million cubic feet a day of natural gas and 2.0 million of barrels of liquids a day.

Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the United States, South Africa, and Asia for total refining capacity of 1.7 million barrels of oil a day. Proven reserves at year-end 2019 stood at 11.4 billion barrels of oil equivalent, including 6.5 billion barrels of liquids and 29.5 trillion cubic feet of natural gas.

Chevron shares are trading up 2.27% at $73.46 during the time of publication on Monday. The stock has a 52-week high of $122.94 and a 52-week low of $51.60.