BMO Capital Reiterates a Buy Rating on Chevron Corp

By Ryan Adsit

BMO Capital analyst Brendan Warn reiterated a Buy rating on Chevron Corp (NYSE: CVX) yesterday and set a price target of $120. The company’s shares closed yesterday at $104.14.

According to TipRanks.com, Warn is a 1-star analyst with an average return of -0.2% and a 41.2% success rate. Warn covers the Basic Materials sector, focusing on stocks such as Royal Dutch Shell A, Bonanza Creek, and Kosmos Energy.

Currently, the analyst consensus on Chevron Corp is Moderate Buy and the average price target is $109.13, representing a 4.8% upside.

In a report issued on June 23, Jefferies also reiterated a Buy rating on the stock with a $135 price target.

Based on Chevron Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $31.36 billion and quarterly net profit of $2.68 billion. In comparison, last year the company earned revenue of $23.1 billion and had a GAAP net loss of $725 million.

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