Why Chevron Stock Got Thumped by the Market Today
Energy sector giant (NYSE: CVX) wasn't looking very mighty on the stock exchange Thursday. The company's share price sank by over 1% on an analyst's price target decrease. While the cut was fairly modest, it exacerbated the bearish feeling on the stock following a big investor's divestment several days earlier.
Thursday morning, Piper Sandler prognosticator Ryan Todd lowered his Chevron fair value assessment to $196 per share. Previously, he had tagged it at $203. He still feels it's worthy of investment, as he maintained his overweight (buy) recommendation on the shares.
The reasoning behind Todd's move wasn't immediately clear, but it isn't the only slight downward shift in recent weeks. At the beginning of May, Truist Securities' Neal Dingman also snipped his price target, lopping $3 from it to land at $190.
Source Fool.com
Chevron Corp. Stock
The stock is an absolute favorite of our community with 36 Buy predictions and no Sell predictions.
As a result the target price of 168 € shows a slightly positive potential of 17.81% compared to the current price of 142.6 € for Chevron Corp..
