Analysts Just Revised Their Ratings for These 5 Stocks

4. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 53

Shares of Chevron Corporation (NYSE:CVX) closed higher on Wednesday, July 20, 2022, after HSBC raised its ratings for the California-based energy giant from “Hold” to “Buy.” HSBC analyst Gordon Gray pointed toward a sharp drop in the company’s share price. Gray added that Chevron Corporation (NYSE:CVX) looks attractive at current valuations.

Separately, investment management firm Diamond Hill Capital also talked about Chevron Corporation (NYSE:CVX) in its first-quarter 2022 investor letter. Here’s what the firm said:

“Other top contributors in Q1 included multinational energy company Chevron Corp. (NYSE:CVX). The company benefited from increased energy demand as COVID-related economic restrictions eased in tandem with concerns regarding supply interruptions related to Russia’s invasion of Ukraine.”