Chevron: Buy, Sell, or Hold?
Slowing demand worldwide coupled with robust production in the U.S. has put downward pressure on the price of oil. As a result, many oil and gas stocks have failed to keep pace with the stock market's torrid returns in 2024; the SPDR Oil Gas Exploration and Production ETF has fallen 1% since the start of the year.
(NYSE: CVX), the integrated oil and gas giant, hasn't been immune to the volatility. With the stock falling 10% over the past year, investors may be considering a position in the energy producer. But is now a good time to buy? Let's dive into the company and the market backdrop to find out.
Energy is the lifeblood of the economy. Without it, you can't power the data centers, factories, vehicles, and other things that make the modern world what it is today. According to the Energy Institute, oil is the most used energy source worldwide, making up nearly one-third of all energy consumption.
Source Fool.com
Chevron Corp. Stock
The stock is one of the favorites of our community with 47 Buy predictions and 1 Sell predictions.
As a result the target price of 183 € shows a slightly positive potential of 3.82% compared to the current price of 176.26 € for Chevron Corp..
