Chevron: Analysts’ Recommendations
In January, 23 analysts rated Chevron (CVX). Among the analysts, 17 (or 74%) recommended a “buy” or “strong buy.”
![Maitali Ramkumar - Author](https://media.marketrealist.com/brand-img/B3rTvxF2z/200x200/img_20181231_204721-maitali-ramkumar-1595895220527.jpg)
Nov. 20 2020, Updated 2:11 p.m. ET
![uploads///Analyst ratings](https://media.marketrealist.com/brand-img/uEL6FkaYf/480x251/uploads/2019/01/Analyst-ratings-6-1.jpg 480w, https://media.marketrealist.com/brand-img/uEL6FkaYf/640x335/uploads/2019/01/Analyst-ratings-6-1.jpg 640w, https://media.marketrealist.com/brand-img/uEL6FkaYf/768x402/uploads/2019/01/Analyst-ratings-6-1.jpg 768w, https://media.marketrealist.com/brand-img/uEL6FkaYf/1024x536/uploads/2019/01/Analyst-ratings-6-1.jpg 1024w, https://media.marketrealist.com/brand-img/uEL6FkaYf/1280x670/uploads/2019/01/Analyst-ratings-6-1.jpg 1280w, https://media.marketrealist.com/brand-img/uEL6FkaYf/1440x753/uploads/2019/01/Analyst-ratings-6-1.jpg 1440w, https://media.marketrealist.com/brand-img/uEL6FkaYf/1600x837/uploads/2019/01/Analyst-ratings-6-1.jpg 1600w, https://media.marketrealist.com/brand-img/uEL6FkaYf/2160x1130/uploads/2019/01/Analyst-ratings-6-1.jpg 2160w)
Analysts’ recommendations
In January, 23 analysts rated Chevron (CVX). Among the analysts, 17 (or 74%) recommended a “buy” or “strong buy,” while six (or 26%) recommended a “hold.” None of the analysts recommended a “sell” rating on the stock.
Recently, HSBC downgraded Chevron from “buy” to “hold.” The firm has also lowered its target price on Chevron stock from $136 per share to $122 per share. Barclays cut its target price on Chevron stock from $148 per share to $136 per share. J.P. Morgan reduced its target price on the stock from $140 per share to $138 per share. Chevron’s mean target price of $138 per share implies a 24% gain from the current level.
Most analysts rate Chevron as a “buy”
Chevron’s financials have been getting stronger. The company had healthy cash flows from operations in the third quarter. Chevron’s debt position got stronger during the quarter.
Chevron has a strong upstream portfolio, which is expected to drive its volumes growth. Chevron’s mega-projects like Gorgon and Wheatstone have started delivering results. Chevron expects its volumes to grow ~7% in 2018, which is at the higher end of its forecast range of 4%–7%. Wall Street analysts expect Chevron’s earnings to increase 117% in 2018—the highest among its peers.
Analysts’ ratings for peers
Equinor (EQNR), YPF (YPF), and Petrobras (PBR) have been rated as a “buy” by 33%, 79%, and 36% of the analysts, respectively. ExxonMobil (XOM), BP (BP), and Royal Dutch Shell (RDS.A) have been rated as a “buy” by 32%, 55%, and 82% of the analysts, respectively.
Next, we’ll discuss Chevron’s dividend yield before its earnings.