In a recent report, Biraj Borkhataria from RBC Capital has reiterated a Buy rating on Chevron, with shares closing at $156.10. The analyst’s focus on the Energy sector includes major companies such as TotalEnergies SE and Shell, in addition to Chevron. According to data from TipRanks, Borkhataria has achieved an average return of 3.1% and holds a success rate of 56.25% for his stock recommendations.
The current analyst consensus for Chevron is categorized as a Moderate Buy, featuring an average price target of $171.33, indicating a potential upside of 9.76% from its present price. Additionally, a recent report from UBS also affirmed a Buy rating for Chevron, setting a higher price target of $197.00.
With a market capitalization of $327.9 billion, Chevron’s current price-to-earnings (P/E) ratio stands at 20.67. However, it is worth noting that recent insider activity presents a cautious outlook, as sentiment among 52 corporate insiders has shown a negative trend. There has been an increased number of insiders selling shares, with notable transactions such as John Hess, a Director at Chevron, divesting 375,000 shares for approximately $59.36 million last month.
While the current analysis suggests a positive market outlook for Chevron, the selling activity among insiders may prompt investors to tread carefully. Nonetheless, the continued Buy ratings from prominent analysts indicate potential for growth, signaling a nuanced picture for current and prospective shareholders.