Chevron Posts Q3 Beat As ‘Uncertainty Around Hess Deal Remains,’ Analysts Say
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Shares of Chevron Corp (NYSE:CVX) continued to rise in early trading on Monday, after the company reported upbeat third-quarter results.
The San Ramon, California-based company reported its results amid an exciting earnings season. Here are some key analyst takeaways.
- Truist Securities analyst Neal Dingmann maintained a Hold rating, while raising the price target from $150 to $155.
- RBC Capital Markets analyst Biraj Borkhataria reiterated an Outperform rating, while lifting the price target from $170 to $175.
- Scotiabank analyst Paul Cheng reaffirmed a Sector Outperform rating and price target of $163.
Check out other analyst stock ratings.
Truist Securities: Chevron’s third-quarter earnings came in ahead of consensus estimates, with production on a BOE (barrel of oil equivalent) basis topping expectations, although pricing was weaker than anticipated, Dingmann said. “Production benefited from strong growth in the Permian offset by the impacts of hurricanes,” he added.
Margins at …
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