Why ExxonMobil and Chevron Stocks Dried Up Today
Neither ExxonMobil (NYSE: XOM) nor Chevron (NYSE: CVX) was much of a gusher for their shareholders on Wednesday, despite some encouraging pronouncements from the latter. On the back of a pair of price target cuts from an analyst at a global bank, ExxonMobil's share price dipped by 0.5% on the day, while Chevron's took a nearly 1% hit.
Well before the market open, HSBC's Kim Fustier made slight downward adjustments to her levels for both ExxonMobil and Chevron.
In her estimation, ExxonMobil is now worth $109 per share (previously $111), and Chevron's proper level is $185, from its former $187.
Source Fool.com
