Bernstein Downgrades Chevron to Market Perform, Lowers Price Target to $167
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 17 2024
0mins
Should l Buy CVX?
Source: Benzinga
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Analyst Views on CVX
Wall Street analysts forecast CVX stock price to fall
19 Analyst Rating
15 Buy
4 Hold
0 Sell
Strong Buy
Current: 189.600
Low
158.00
Averages
176.95
High
206.00
Current: 189.600
Low
158.00
Averages
176.95
High
206.00
About CVX
Chevron Corporation is an integrated energy company. The Company produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance its business and industry. The Company’s segments include Upstream and Downstream. Upstream operations consist primarily of exploring for, developing, producing and transporting crude oil and natural gas; liquefaction, transportation and regasification associated with LNG; transporting crude oil by major international oil export pipelines; processing, transporting, storage and marketing of natural gas; carbon capture and storage; and a gas-to-liquids plant. Downstream operations consist primarily of the refining of crude oil into petroleum products; marketing crude oil, refined products, and lubricants; manufacturing and marketing of renewable fuels, and transporting of crude oil and refined products by pipeline, marine vessel, motor equipment and rail car.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Gold and Dollar Movements: Gold prices rose on Monday while the dollar strengthened against G10 and emerging market currencies, reflecting a risk-off sentiment in the market as investors reassess asset allocations in light of geopolitical conflicts.
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- Economic Growth Risks: Deutsche Bank analysts warn that a significant spike in oil prices could dampen economic growth and derail market recovery, particularly if oil prices rise by 50% to 100% and remain elevated for several months, potentially leading to a more than 15% decline in the S&P 500.
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- Uncertain Energy Stock Outlook: Bank of America raised price targets for Exxon and Chevron due to increased oil risk premiums, warning of a potential $10-$20 per barrel near-term crude impact if disruptions persist, which could significantly affect Exxon's earnings per share.
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