Chevron Stock: Buy, Sell, or Hold?
A couple of years ago, oil prices soared following Russia's invasion of Ukraine, and producers capitalized on the opportunity. With profits at their peak, companies like (NYSE: CVX) used that windfall to pay down debt and reward shareholders with generous dividends and massive share buybacks.
However, the narrative for oil companies has since shifted. Since the start of 2023, Chevron's performance has been lackluster, with the stock falling 13%. Compare this to the S 500, which has climbed 57% over that same period.
Slowing global demand has put downward pressure on prices. On top of that, the U.S. is cranking out record amounts of oil. With Chevron facing these challenges, is it time for investors to buy, sell, or hold the stock? Let's dive in and find out.
Source Fool.com
Chevron Corp. Stock
The stock is one of the favorites of our community with 36 Buy predictions and 2 Sell predictions.
As a result the target price of 162 € shows a positive potential of 26.8% compared to the current price of 127.76 € for Chevron Corp..
