Analysts Stay Positive on Chevron (CVX) Despite Challenges

Core Viewpoint - Chevron Corporation (NYSE:CVX) is recognized as one of the top American energy stocks to invest in, with analysts maintaining positive outlooks despite facing challenges in the near term [1][3]. Group 1: Analyst Ratings and Price Targets - Jefferies raised its price target for Chevron from $174 to $189 while maintaining a Buy rating ahead of the upcoming fourth-quarter earnings report [1]. - BMO Capital reaffirmed its Outperform rating on Chevron with a price target of $170, highlighting ongoing challenges but expressing confidence in the company's long-term prospects [3][4]. Group 2: Earnings Expectations - Jefferies forecasts Chevron will report adjusted earnings per share of $1.45, which is approximately 2% above Wall Street's expectations [2]. Group 3: Challenges and Developments - Analysts noted specific challenges for Chevron, including issues at its TCO and El Segundo facilities, as well as the impact of lower crude prices on quarterly results [3][4]. - Investors are expected to focus on developments in Venezuela, production at TCO, updates on the El Segundo fire, and the company's gas-to-AI outlook during the earnings report [2]. Group 4: Company Overview - Chevron is a major American energy company involved in the production of crude oil and natural gas, as well as the manufacturing of transportation fuels, lubricants, petrochemicals, and additives [4].