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Chevron (CVX) Stock Higher, Goldman Upgrades to 'Buy'

NEW YORK (TheStreet) -- Shares of Chevron (CVX) were climbing in early-afternoon trading on Monday after Goldman Sachs upgraded the stock to "buy" from "neutral" and added shares to its "Conviction List."

The firm anticipates an uptick in volume following a decade of "relatively flat production." This should be driven by liquefied natural gas projects in Australia and Africa, U.S. projects within the Permian, and Kazakhstan's Tengiz field, Goldman said.

Additionally, free cash flow should benefit as new projects accelerate and oil prices...