TD Cowen has reiterated its Hold rating and $168.00 price target for Chevron (NYSE:CVX), noting the company’s focus on margin expansion over production growth and its operations in the Permian Basin and Middle East opportunities. Despite appearing overvalued compared to its Fair Value estimate, Chevron boasts a strong financial health score and an attractive 3.94% dividend yield. Recent developments include increased price targets from BMO Capital and JPMorgan, a strategic deal with Turkey’s Turkish Petroleum Corp, and potential oil and gas production licensing in Venezuela.
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Chevron stock holds steady as TD Cowen reiterates $168 price target
TD Cowen has reiterated its Hold rating and $168.00 price target for Chevron (NYSE:CVX), noting the company’s focus on margin expansion over production growth and its operations in the Permian Basin and Middle East opportunities. Despite appearing overvalued compared to its Fair Value estimate, Chevron boasts a strong financial health score and an attractive 3.94% dividend yield. Recent developments include increased price targets from BMO Capital and JPMorgan, a strategic deal with Turkey’s Turkish Petroleum Corp, and potential oil and gas production licensing in Venezuela.