Recent Analysts’ Ratings Updates for Chevron (CVX)
A number of stock research firms have changed their ratings and price targets for Chevron (NYSE: CVX) during the last seven days:
- Chevron was upgraded by analysts at Howard Weil from a “market perform” rating to an “outperform” rating. They now have a $135.00 price target on the stock.
- Chevron had its “buy” rating reaffirmed by analysts at Societe Generale. They now have a $131.00 price target on the stock.
- Chevron had its price target raised by analysts at Bank of America from $110.00 to $125.00. They now have a “neutral” rating on the stock. They wrote, “Overall CVX put on an outstanding presentation, punctuated by emphasis on safety, environmental sensitivity and strong political support. But on balance it does not alter an investment case characterized by a 2 1/2 year wait for meaningful production growth and a share price driven more by the wider market and commodity trends than stock specific catalysts to differentiate performance. Reversing the stress test amidst the wider sell off in energy earlier this year, our PO moves back to $125. But save for the jet lag that comes with 26 hours on a plane, our view of CVX is unchanged. A quality company, appropriately priced. Neutral.”
- Chevron had its “outperform” rating reaffirmed by analysts at Credit Suisse. They now have a $135.00 price target on the stock.
- Chevron had its “outperform” rating reaffirmed by analysts at Macquarie. They now have a $123.00 price target on the stock.
Chevron traded down 1.54% on Wednesday, hitting $116.14. Chevron has a 52-week low of $92.29 and a 52-week high of $118.53. The company has a market cap of $227.9 billion and a price-to-earnings ratio of 8.79.
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in petroleum operations, chemicals operations, mining operations, power generation and energy services.