BUZZ-Street View: Chevron's cost cuts and catalysts keep optimism alive

Reuters02-02 21:33
BUZZ-Street View: Chevron's cost cuts and catalysts keep optimism alive

** Chevron CVX.N Q4 profit fell on Friday, but still topped estimates as co cut costs and improved efficiency to offset lower crude prices expected through 2025

** Median PT of 28 brokerages covering the stock is $179 - data compiled by LSEG

CUTTING FOR LIFT

** Piper Sandler ("overweight," PT: $177) says co’s efficient portfolio, cost cutting and an eventual oil price recovery leave it well-placed to grow

** Morningstar (fair value: $171) says co can raise its Venezuelan output over the next couple of years, but any further expansion will likely require clearer regulatory conditions

** Evercore ISI ("outperform," PT: $180) says the Hess deal adds a low-cost cash generator, while cost cuts, maturing U.S. assets and Tengizchevroil $(TCO)$, the Kazakh mega‑oilfield venture, strengthen the oil-focused portfolio

** Barclays ("equal weight," PT: $172) says it sees upside to the 2026 outlook, with benefits likely carrying into the next year from wider surfactant use, progress easing constraints at TCO and structural cost savings

(Reporting by Kanishka Ajmera in Bengaluru)

((Kanishka.Ajmera@thomsonreuters.com))

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