Analysts Stay Positive on Chevron (CVX) Despite Challenges

Chevron Corporation (NYSE:CVX) is one of the 12 Best American Energy Stocks to Buy Now. On January 14, Jefferies raised its price target on Chevron Corporation (NYSE:CVX) from $174 to $189 and maintained its Buy rating on the stock, ahead of the company’s fourth-quarter earnings report, which is expected on January 30.

The research firm forecasts that Chevron Corporation (NYSE:CVX) will report adjusted earnings per share of $1.45, or about 2% above Wall Street’s expectations. According to Jefferies, investors are expected to focus on topics like developments in Venezuela, production at TCO, an update on the El Segundo fire, and the company’s gas-to-AI outlook.

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On January 7, BMO Capital reaffirmed its Outperform rating on Chevron Corporation (NYSE:CVX) with a price target of $170 on the stock. The research firm highlighted known challenges affecting the company, including problems at its TCO and El Segundo facilities and lower crude prices that may hurt the company’s quarterly results.

Despite these headwinds, BMO Capital is still confident about Chevron Corporation’s (NYSE:CVX) longer-term prospects. The firm also pointed to the company’s enhanced portfolio after it acquired Hess in 2025.

Chevron Corporation (NYSE:CVX) is a major American energy company that produces crude oil and natural gas. It also manufactures transportation fuels, lubricants, petrochemicals, and additives.

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Disclosure: None. This article is originally published at Insider Monkey.