DBS analyst Suvro Sarkar maintains $Chevron (CVX.US)$ with a buy rating, and maintains the target price at $182.
According to TipRanks data, the analyst has a success rate of 55.6% and a total average return of 3.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Chevron (CVX.US)$'s main analysts recently are as follows:
The notable takeaway from the recent quarterly report is Chevron's emphasis on persistent cost reductions and judicious capital expenditure, transitioning into a phase where it capitalizes on free cash flow from its principal operations. This development is anticipated to be positively received by the market.
Chevron's third-quarter performance showcased robust operational outcomes, leading to earnings and cash flow surpassing market anticipations. Despite the ongoing uncertainty regarding the Hess transaction, the company's indication of peak capital expenditures in the Permian by 2024 is expected to positively influence free cash flow projections extending into 2025 and further.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
