Chevron Corporation (NYSE:CVX) has said that it continues to work on plugging a well offshore Brazil.

According to an announcement made by the oil giant Chevron Corporation (NYSE:CVX), it continues to work on plugging and sealing a well offshore Brazil that was suspected to be contributing to an oil leak.

Chevron Corporation (NYSE:CVX) said in a statement, “Current monitoring indicates oil from nearby seep lines on the ocean floor have reduced to infrequent droplets. The sheen is located about 120 kilometers offshore and continues to move in a south-easterly direction away from the Brazilian coast.”

Chevron Corp. (NYSE:CVX) shares were at 100.08 at the end of the last day’s trading. There’s been a 3.5% change in the stock price over the past 3 months.

Chevron Corp. (NYSE:CVX) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.53
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.5
Zack’s Rank: 1 out of 19 in the industry