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**Summary:**
Analysts remain largely positive on Chevron (CVX) despite recent insider selling activity. RBC Capital’s Biraj Borkhataria reiterated a “Buy” rating on the stock, which closed at $156.10. The average analyst price target is $171.33, suggesting a potential upside. UBS also reiterated a “Buy” rating with a higher price target of $197. However, corporate insiders have been selling shares, with Director John Hess selling a substantial amount last month. The company has a market cap of $327.9 billion and a P/E ratio of 20.67.
**News Article:**
**Analysts Bullish on Chevron (CVX) Despite Insider Selling**
**[City, State] –** Despite recent selling activity by corporate insiders, analysts are maintaining a positive outlook on Chevron (CVX), according to a report released yesterday. RBC Capital analyst Biraj Borkhataria reaffirmed a “Buy” rating on the energy giant, which closed yesterday at $156.10.
Borkhataria, who specializes in the Energy sector, including stocks such as TotalEnergies SE and Shell (UK), has a track record of a 3.1% average return and a 56.25% success rate on his stock recommendations, according to TipRanks.
The overall analyst consensus on Chevron remains a “Moderate Buy,” with an average price target of $171.33, representing a potential 9.76% upside from current levels. UBS reiterated a “Buy” rating on September 26th with an even more optimistic price target of $197.00.
Chevron currently boasts a market capitalization of $327.9 billion and a price-to-earnings (P/E) ratio of 20.67.
However, the bullish analyst sentiment is tempered by recent insider activity. Corporate insider sentiment is currently negative, indicating an increase in share sales by insiders compared to earlier in the year. Notably, John Hess, a Director at Chevron, sold 375,000 shares last month for a total of $59,362,500.00. While insider selling doesn’t automatically signal a negative outlook, it is something investors often watch closely.
Analysts and investors will be keeping a close eye on Chevron’s performance in the coming months to see if the positive projections hold true in the face of potential headwinds.