Analysts Are Bullish on These Materials Stocks: CVX, COG

By Jason Carr

There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Chevron Corp (NYSE: CVX) and Cabot Oil & Gas (NYSE: COG) with bullish sentiments.

Chevron Corp (NYSE: CVX)

In a report issued on September 13, Blake Fernandez from Scotiabank maintained a Buy rating on Chevron Corp (NYSE: CVX), with a price target of $115. The company’s shares closed yesterday at $114.45.

According to TipRanks.com, Fernandez is a 4-star analyst with an average return of 4.4% and a 64.8% success rate. Fernandez covers the Basic Materials sector, focusing on stocks such as Royal Dutch Shell A, Hollyfrontier Corp, and Valero Energy Corp.

Currently, the analyst consensus on Chevron Corp is Moderate Buy and the average price target is $115.44, representing a 0.9% upside.

In a report issued on August 29, Jefferies also reiterated a Buy rating on the stock with a $130 price target.
Cabot Oil & Gas (NYSE: COG)

Scotiabank analyst Holly Stewart maintained a Buy rating on Cabot Oil & Gas (NYSE: COG) on September 13 and set a price target of $32. The company’s shares closed yesterday at $26.74, close to its 52-week high of $27.14.

According to TipRanks.com, Stewart is ranked 0 out of 5 stars with an average return of -11.8% and a 38.3% success rate. Stewart covers the Basic Materials sector, focusing on stocks such as National Fuel Gas Company, Antero Midstream Partners, and Rice Midstream Partners.

Currently, the analyst consensus on Cabot Oil & Gas is Strong Buy and the average price target is $29.92, representing an 11.9% upside.

In a report issued on September 1, BMO Capital also reiterated a Buy rating on the stock with a $30 price target.

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