25 Jan

Analysts Give Mixed Signals on Chevron Stock

WRITTEN BY Maitali Ramkumar

Analysts’ ratings for Chevron

In this series so far, we’ve reviewed Chevron’s (CVX) 4Q17 earnings estimates, segment-wise outlook, stock performance, and stock price forecast. The company is set to publish its earnings results on February 2, 2018. In this part, we’ll review analyst ratings for Chevron.

Analysts Give Mixed Signals on Chevron Stock

Of the 24 analysts covering CVX in January 2018, 14 (58%) analysts recommended “buy” or “strong buy,” nine (38%) recommended “hold,” and one (4%) recommended “sell.” To learn more about these recommendations, read Analysts’ Ratings for Chevron: Why Most Call It a ‘Buy’.

Changes in analysts’ ratings and target prices

Chevron stock has seen mixed signals from Wall Street analysts in January 2018. While BMO has upgraded Chevron, HSBC has downgraded it.

BMO has upgraded Chevron from “market perform” to “outperform,” and raised CVX’s target price from $120 per share to $140 per share. HSBC has raised CVX’s target price from $125 per share to $133 per share, and downgraded Chevron from “buy” to “hold.”

Many other investment banking companies have raised CVX’s target prices. Morgan Stanley raised its target price for Chevron stock from $130 per share to $145 per share, and Jefferies, which has a “buy” rating on the stock, increased its target price to $152 per share. Deutsche Bank raised CVX’s target price from $131 per share to $145 per share. CVX’s mean target price of $135 per share implies a 3% gain from its current level.

Analysts’ ratings for peers

Peers Statoil (STO), Total (TOT), and YPF (YPF) have been rated “buy” by 20%, 17%, and 100% of analysts, respectively. ExxonMobil (XOM), BP (BP), and Royal Dutch Shell (RDS.A) have been rated “buy” by 32%, 46%, and 91% of analysts. In the next part, we’ll evaluate short interest changes in Chevron.

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