TD Cowen Reiterates Hold Rating on Chevron (CVX)

TD Cowen analyst Jason Gabelman reiterated a Hold rating and $160.00 price target on Chevron (NYSE: CVX).

The analyst commented: "CVX announced the sale of Canadian assets for $6.5B cash. We estimate the deal has a ~10% FCF yield at $70 WTI (close to '25 strip), ~1% cheaper than '25 consensus; it has a 7.4% yield at $65 Brent, ~1% cheaper than our '26 estimate. While not necessarily attractive on yield, deal could suggest CVX is comfortable with its long-cycle oil resource, a point of debate in light of the pending HES deal."

For an analyst ratings summary and ratings history on Chevron click here. For more ratings news on Chevron click here.

Shares of Chevron closed at $150.74 yesterday.

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