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Analysts’ Recommendations for Chevron before 3Q15 Earnings

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Analysts’ recommendations for Chevron

In the weeks leading up to Chevron’s (CVX) 3Q15 earnings release, Wall Street analysts provided target prices for the next 12 months.

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Consensus rating for Chevron

Approximately 53.3% of analysts rate Chevron a “hold,” 40% rate it a “buy,” and 6.7% rate it a “sell.” The average broker target price of $93.11 for CVX implies a ~3.4% return in the next 12 months. Its peers Statoil (STO) and Total (TOT) have average broker target prices of $19.74 and $55.27, respectively. These imply returns of ~15.2% and ~8.7%, respectively, in the next 12 months.

CVX is a component of the Vanguard Energy ETF (VDE) and makes up ~12% of the fund.

Analysts’ target prices for Chevron

In terms of individual recommendations, Jefferies, an investment banking firm, and Tudor, Pickering, Holt & Co., another investment firm, gave CVX the most optimistic target prices of $115 and $110, respectively. These imply returns of approximately 28% and 22%, respectively, in the next 12 months.

HSBC and Société General gave optimistic price targets of $99 and $97, respectively, implying respective returns of ~10% and 7.7% in the next 12 months.

Barclays (BCS) and Raymond James gave target prices of $96 and $95, respectively, implying returns of 6.6% and 5.5%, respectively, over the next 12 months.

Both Scotia Howard Weil, an investment firm specializing in energy, and Morgan Stanley gave a target price of $93, implying a return of 3.3% in the next 12 months.

Credit Suisse (CS) and UBS (OUBS) gave a target price of $87, implying a negative return of 3.4% in the next 12 months. J.P. Morgan (JPM) gave a target price of $86, implying a negative return of 4.4% in the next 12 months.

The most pessimistic targets were given by Goldman Sachs (GS) and RBC Capital Markets, Royal Bank of Canada’s investment banking arm, which gave CVX target prices of $79 and $77, respectively. These imply negative returns of 12% and 14%, respectively, over the next year.

To learn more about the oil and gas industry, visit Market Realist’s Energy and Power page.

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