Chevron Likely To Report Lower Q4 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
Portfolio Pulse from Avi Kapoor
Chevron Corporation (NYSE:CVX) is anticipated to report lower Q4 earnings with an expected EPS of $3.21, down from $4.09 the previous year, and revenue forecasted at $51.62 billion, a decrease from $56.47 billion. The company is also selling its natural gas business in Canada's Duvernay Shale as part of its global operations streamlining. Analysts have recently adjusted their ratings and price targets for Chevron, reflecting a mixed outlook.
February 02, 2024 | 6:06 am
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Chevron is expected to report lower Q4 earnings and revenue, and is selling its natural gas business in Canada's Duvernay Shale. Analyst ratings and price targets have been adjusted, indicating a mixed outlook.
The expected decrease in earnings and revenue for Chevron indicates potential short-term challenges. However, the sale of its natural gas business could be part of a strategic move to streamline operations and focus on more profitable areas. Mixed analyst ratings suggest uncertainty about the stock's direction in the short term, but the adjustments in price targets and ratings reflect a nuanced view of the company's future performance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100