Chevron stock gains as energy giant becomes more profitable despite oil-price drop

Shares of Chevron Corp. rose Friday after the oil and gas giant reported quarterly profit that rose above expectations and revenue that beat forecasts despite a drop in oil prices.

Chevron’s CVX net income rose to $6.57 billion, or $3.46 a share, from $6.26 billion, or $3.22 a share, in the year-ago period. Excluding nonrecurring items, the company said adjusted earnings a share of $3.55 beat the FactSet consensus of $3.40.

Revenue…