Chevron Gears Up For Q4 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

As Chevron Corporation (CVX) prepares to report its fourth-quarter earnings, investors are eager to see how the energy giant has fared in the face of volatile oil prices and a challenging market environment. With the earnings release scheduled for January 31, 2025, analysts have been busy updating their forecasts and price targets. In this article, we will explore the recent changes in analyst ratings and price targets for Chevron, providing insights into the market's sentiment towards the company's upcoming Q4 results.



Analyst Ratings and Price Targets

The average analyst rating for Chevron stock from 17 stock analysts is "Buy," indicating that analysts believe this stock is likely to outperform the market over the next twelve months. The consensus price target for CVX is $174.6, suggesting an increase of 11.69% from the current stock price of $156.32.



Recent Forecast Changes

1. Raymond James: Justin Jenkins, an analyst with an accuracy rate of 77%, maintained an "Outperform" rating and raised the price target from $175 to $180 on January 17, 2025. This increase reflects a positive outlook on Chevron's earnings and future prospects.
2. Truist Securities: Neal Dingmann, with an accuracy rate of 67%, maintained a "Hold" rating and boosted the price target from $160 to $164 on January 13, 2025. This adjustment suggests that Dingmann expects Chevron's stock price to rise slightly after the earnings report.
3. Piper Sandler: Ryan Todd, with an accuracy rate of 68%, maintained an "Overweight" rating and cut the price target from $184 to $173 on December 19, 2024. This change indicates that Todd has a more cautious outlook on Chevron's near-term prospects.
4. Wells Fargo: Roger Read, with an accuracy rate of 65%, maintained an "Overweight" rating and boosted the price target from $171 to $188 on December 9, 2024. This significant adjustment suggests that Read expects Chevron's stock price to rise significantly after the earnings report.

Analyst Consensus and Target Prices

The analyst consensus for Chevron is a "Buy" rating, with a target price of $174.6, which predicts an increase of 11.69% from the current stock price. The target prices range from a low of $160 to a high of $195, with change percentages ranging from +2.35% to +24.74%.



Conclusion

The recent changes in analyst ratings and price targets for Chevron reflect a generally bullish sentiment towards the company's upcoming Q4 earnings. While some analysts, such as Justin Jenkins from Raymond James, have raised their price targets, others, like Ryan Todd from Piper Sandler, have expressed a more cautious outlook. Overall, the analyst consensus remains a "Buy" rating, with a target price of $174.6, suggesting that analysts expect Chevron's stock price to rise after the earnings report.

Investors should closely monitor Chevron's Q4 earnings release and the subsequent analyst reactions to make informed decisions about their investments in the company. As always, it is essential to conduct thorough research and consider multiple perspectives when making investment decisions.