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Chevron Corporation (NYSE:CVX) ranks among the best spring stocks to buy right now. On February 17, Melius raised its rating on Chevron Corporation (NYSE:CVX) from Hold to Buy, with a price target of $205. The firm emphasized Chevron’s focus on shareholder returns, such as dividends and buybacks, a rise in exploration targeted on high-impact frontier locations, and an adjustment to cash collection in the Permian over growth.
Melius praised CEO Mike Wirth’s leadership since 2018, citing controlled mergers and acquisitions, cash production, and growth strategy. The firm also cited the acquisition of Hess, which enabled exposure to the Guyana scene, as well as a recent management team overhaul that prioritized local leaders.
Moreover, the firm stated that developments in Venezuela could result in a withdrawal of the Venezuelan Navy from Guyana, potentially giving up a further one-third of the block and enriching Chevron Corporation (NYSE:CVX).
Chevron Corporation (NYSE:CVX) is a multinational energy company that explores, produces, refines, and sells oil and natural gas products, including transportation fuels and lubricants.
While we acknowledge the potential of CVX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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