NEW YORK (TheStreet) -- Shares of Chevron Corp (CVX) were retreating, down 0.5% to $99.75 in early market trading Friday, after analysts at Goldman Sachs lowered their price target on the oil giant this morning.
The firm lowered its price target on Chevron shares to $97 from $99.
Analysts at Goldman also cut their earnings estimates for 2015 through 2017.
Goldman now expects earnings of $4.62 per share this year, a dime lower than its prior forecast of $4.72 per share.
For 2016, Chevron revised its earnings estimate to $5.74 per share from $5.89 per share.
For 2017, it expects earnings of $7.23 per share from $7.38 per share.
Analysts maintained their "sell" rating on the name.
San Ramon, Calif.-based Chevron is a holding company that is engaged in petroleum operations, chemicals operations, mining operations, and power and energy services through its subsidiaries.
Separately, TheStreet Ratings team rates CHEVRON CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate CHEVRON CORP (CVX) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."