Chevron Corp Gets a Buy Rating from Scotiabank

By Jason Carr

In a report released yesterday, Blake Fernandez from Scotiabank maintained a Buy rating on Chevron Corp (NYSE: CVX), with a price target of $113. The company’s shares opened today at $104.53.

According to TipRanks.com, Fernandez is a 3-star analyst with an average return of 2.0% and a 53.5% 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 $109, representing a 4.3% upside.

In a report issued on June 22, BMO Capital also reiterated a Buy rating on the stock with a $130 price target.

Chevron Corp’s market cap is currently $197.3B and has a P/E ratio of 68.06. The company has a book value ratio of 1.3456.

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