In a report issued on July 8, Devin McDermott from Morgan Stanley maintained a Buy rating on Chevron (CVX). The company’s shares closed last Friday at $85.23.
According to TipRanks.com, McDermott has 0 stars on 0-5 stars ranking scale with an average return of -7.9% and a 35.6% success rate. McDermott covers the Utilities sector, focusing on stocks such as Continental Resources, Occidental Petroleum, and Concho Resources.
Currently, the analyst consensus on Chevron is a Moderate Buy with an average price target of $103.09, representing a 25.0% upside. In a report issued on July 1, Credit Suisse also maintained a Buy rating on the stock with a $106.00 price target.
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The company has a one-year high of $127.00 and a one-year low of $51.60. Currently, Chevron has an average volume of 10.1M.
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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant. The Downstream segment comprises refining of crude oil into petroleum products; marketing of crude oil and refined products; transporting of crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. The company was founded in 1906 and is headquartered in San Ramon, CA.
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