Chevron Stock (CVX): $167 Price Target From Truist

• The shares of Chevron Corporation (NYSE: CVX) have received a price target of $167 from Truist. These are the details.

The shares of Chevron Corporation (NYSE: CVX) have received a price target of $167 from Truist. And Truist analyst Neal Dingmann increased the price target from $150 while maintaining a “Buy” rating on the company shares.

Dingmann adjusted the rating as part of a broader research note on the Exploration & Production group model. And Dingmann pointed out that more oil-weighted E&P names warrant higher price targets as the 2022 oil price deck was increased by about 10% and the 2023 deck was increased by about 8%. 

But Dingmann pointed out that while the oil strip remains highly backward dated, the current natural gas strip has largely flattened out, driving price target declines across most of his covered natural gas names.

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