Consensus ratings for CVX
Following Chevron’s (CVX) 3Q15 results, Wall Street analysts provided target prices for the next 12 months. Approximately 41% of analysts rate Chevron a “buy,” ~52% rate it as a “hold,” while 7% rate it a “sell.”
Analyst recommendations for CVX
The average broker target price of $95.1 for Chevron implies a ~0.1% price return in the next 12 months. In comparison, its peers ExxonMobil (XOM), Statoil (STO), and Total (TOT) have average broker target prices of $82.6, $20.2, and $53.3, respectively. These prices suggest returns of -3%, ~24%, and 7.4%, respectively, over the next 12 months.
Chevron and ExxonMobil make up ~30% of the Energy Select Sector SPDR ETF (XLE).
Individual recommendations for CVX
Now, let’s look at individual recommendations provided by analysts. Jefferies gave Chevron a very optimistic target price of $115, implying returns of ~21% over the next 12 months. Credit Suisse (CS) also gave Chevron an optimistic target price of $100, implying returns of ~5.3% over the next 12 months.
Scotia Howard Weil and Goldman Sachs (GS) gave Chevron lower target prices of $93 and $81, respectively, implying negative returns of 0.02% and ~15%, respectively, over the next year.
To learn more about the oil and gas industry, please visit Market Realist’s Energy and Power page.
Also, please check out our recent analysis of Cabot Oil and Gas’s 3Q15 earnings at Post-Earnings Overview of Cabot Oil & Gas’s 3Q15 Earnings.