Chevron’s market cap reached $340.68 billion after oil price surges boosted energy stocks amid geopolitical tensions.
Chevron Corporation (CVX) closed at $171.06 on June 26, 2026, pushing its market capitalization to $340.68 billion. The gain followed a late-February strike on Iran, which drove oil prices higher and shifted investor sentiment toward energy stocks.
The S&P 500 fell 4.33% in Q1 2026, while the CBOE S&P 500 BuyWrite Index declined 0.92%. Chevron’s performance stood out as large-cap tech stocks retreated and investors rotated into smaller, defensive value plays.
Meridian Hedged Equity Fund, which returned 0.08% net for the quarter, highlighted Chevron as a top contributor amid reduced Fed rate cut expectations and rising geopolitical risks.