Chevron (CVX) Stock Rising as Jefferies Ups Price Target
NEW YORK (TheStreet) -- Chevron (CVX) - Get Report stock is up 0.45% to $105.24 this morning as analysts at Jefferies raised their price target on the stock to $116 from $114.
The firm has a "buy" rating on shares of the San Ramon, CA-based energy company.
"We believe that the oil market is in the early stages of a sustainable but protracted recovery," the firm said.
Jefferies added that their analysts prefer Chevron. "Chevron is positioned to generate the highest organic growth production amongst its peers," the firm said, noting that it has had the "most dramatic" cash cycle inflection in the market.
With leading production growth and a "pristine" balance sheet, analysts predict that shares of Chevron will trade at a 10% premium over its peers.
Oil prices are gaining this morning, crude oil (WTI) trading up 0.57% to $45.67 per barrel and Brent crude increasing 0.49% to $46.99 per barrel.
Separately, TheStreet Ratings rated this stock as a "hold" with a ratings score of C.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, TheStreet Ratings finds weaknesses including feeble growth in the company's earnings per share, deteriorating net income and poor profit margins.
You can view the full analysis from the report here: CVX
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.