Is Chevron Stock Outperforming the Nasdaq?

Valued at a market cap of $370.3 billion, Chevron Corporation (CVX) is a fully integrated oil and gas company based in Houston, Texas. It explores and produces crude oil and natural gas, refines and markets petroleum products, and transports energy resources. 

Companies valued at $200 billion or more are typically classified as “mega-cap stocks,” and CVX fits the label perfectly, with its market cap exceeding this threshold, underscoring its size, influence, and dominance within the oil & gas integrated industry. The company has a diversified asset base across major oil and gas basins, significant liquefied natural gas (LNG) capabilities, and advanced deepwater and shale expertise, which provide stable production and cost efficiency.

This energy giant is currently trading 1.6% below its 52-week high of $187.90, reached recently on Feb. 19. Shares of CVX have soared 23.3% over the past three months, notably outpacing the Nasdaq Composite’s ($NASX) 1.6% rise during the same time frame.

Moreover, on a YTD basis, shares of Chevron are up 21.3%, compared to NASX’s 2.6% drop. In the longer term, CVX has rallied 17.8% over the past 52 weeks, outperforming NASX’s 15.9% uptick over the same time frame. 

To confirm its bullish trend, CVX has been trading above its 200-day and 50-day moving averages since late December, 2025. 

On Jan. 30, shares of CVX surged 3.3% after delivering mixed Q4 results. Due to lower sales and other operating revenue, the company’s total revenue declined 10.2% year-over-year to $46.9 billion, missing analyst estimates by 8.9%. Additionally, its adjusted EPS decreased 26.2% from the year-ago quarter to $1.52, driven by lower upstream earnings, but topped Wall Street expectations of $1.44, which might have bolstered investor confidence.  

However, CVX has underperformed its rival, Exxon Mobil Corporation (XOM), which surged 36.2% over the past 52 weeks and 25.3% on a YTD basis. 

Looking at C’s recent outperformance, analysts remain moderately optimistic about its prospects. The stock has a consensus rating of "Moderate Buy” from the 28 analysts covering it. While the company is trading above its mean price target of $184.04, its Street-high price target of $212 suggests a 14.7% premium to its current price levels.