Chevron Likely To Report Lower Q4 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Chevron Corporation CVX is expected to release earnings results for its fourth quarter, before the opening bell on Feb. 2, 2024.

Analysts expect the company to report quarterly earnings at $3.21 per share, down from year-ago earnings of $4.09 per share. The company is projected to report revenue of $51.62 billion, compared to $56.47 billion in the year-earlier quarter, according to data from Benzinga Pro.

Chevron reportedly disclosed that it is putting its natural gas business in Canada’s Duvernay Shale for sale. The move comes as a part of its efforts to streamline global operations following several big acquisitions, reported Reuters.
Chevron shares rose 0.3% to close at $147.89 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• TD Cowen analyst Jason Gabelman downgraded the stock from Outperform to Market Perform and cut the price target from $170 to $150 on Jan. 23, 2024. This analyst has an accuracy rate of 71%.
• Scotiabank analyst Paul Cheng downgraded the stock from Sector Outperform to Sector Perform with a price target of $170 on Jan. 16, 2024. This analyst has an accuracy rate of 64%.
• Bernstein analyst Bob Brackett upgraded the stock from Market Perform to Outperform and cut the price target from $184 to $182 on Nov. 2, 2023. This analyst has an accuracy rate of 68%.
• B of A Securities analyst Doug Leggate upgraded the stock from Neutral to Buy and increased the price target from $190 to $200 on Oct. 30, 2023. This analyst has an accuracy rate of 72%.
• Raymond James analyst Justin Jenkins maintained an Outperform rating and cut the price target from $200 to $175 on Oct. 30, 2023. This analyst has an accuracy rate of 76%.

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