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Chart in Focus: Analyst Ratings for CVX after Its 3Q17 Earnings


Oct. 31 2017, Updated 2:10 p.m. ET

Analysts’ ratings for CVX

So far in this series, we’ve examined the Chevron’s (CVX) 3Q17 earnings versus its estimates. We also analyzed Chevron’s segmental earnings in 3Q17. 

We discussed CVX’s stock performance after its earnings release on October 27, 2017. Now, we’ll see how analysts rated CVX.

After its 3Q17 earnings, Chevron was rated by 24 analysts. Of these analysts, 16 (or 67%) analysts assigned “buy” or “strong buy” ratings, seven (or 29%) assigned “hold” ratings, and one (or 4%) assigned a “sell” rating on the stock.

Chevron could observe a change in ratings in the days to come as analysts drill further into its 3Q17 numbers. However, before its earnings were released, Chevron received contradictory signals from analysts.

While a few analysts upgraded Chevron, others downgraded it. BMO downgraded Chevron to “market perform.” Also, Société Générale downgraded Chevron from “buy” to “hold.”

However, Macquarie upgraded Chevron to “outperform.” Wolfe Research upgraded Chevron from “peer perform” to “outperform.” Morgan Stanley increased Chevron’s target price from $120.00 to $130.00 per share, and Jefferies raised Chevron’s target price to $137.00 per share.

Chevron’s mean target price stands at $123.00 per share, which implies an 8% gain from the current level.

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Peers’ analyst ratings

BP (BP), ExxonMobil (XOM), and Royal Dutch Shell (RDS.A) have received “buy” ratings from 50%, 28%, and 91% of analysts, respectively. Global players Statoil (STO), Petrobras (PBR), and YPF (YPF) have been rated as “buy” by 20%, 40%, and 93% of analysts, respectively.

In the final part of this series, we’ll look at the change in implied volatility in Chevron on its earnings release day. We’ll also estimate Chevron’s stock price range for the next seven days after its earnings.


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