#2 - Chevron (NYSE:CVX)
Chevron Corporation (NYSE: CVX) was a target of interest from Congressional Republicans. Two senators executed three buys in the last ninety days.
Specifically, the purchase of CVX stock was done in December. The price of oil has been steadily climbing since that time. By itself, that doesn't mean much. This may just be a case of investors buying an undervalued asset.
Analysts, including many at MarketBeat, have been recommending oil and gas stocks for some time. In addition to geopolitical tensions, the possibility of interest rate cuts would likely stimulate demand, which already outpaces supply.
However, it's noteworthy that Congress has to take up the proposed merger between Chevron and Hess Corporation (NYSE: HESS). That merger may not be approved, but even if it's not approved, this seems like a case where both companies may come out stronger than they were before the merger. And Chevron is still a cash-rich company that has consistently prioritized shareholder value.
About Chevron
Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.
Read More - Current Price
- $156.70
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 14 Buy Ratings, 5 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $186.10 (18.8% Upside)
