Chevron Corporation (NYSE:CVX) is included among 13 Best Long Term Low Risk Stocks to Buy Now.
On February 3, Argus Research raised its price objective on Chevron Corporation (NYSE:CVX) to $203 from $183. The firm also maintained a Buy rating on the stock following the company’s Q4 earnings beat. In a research note, the analyst highlighted Chevron’s long history of returning cash to shareholders through dividends and share buybacks, adding that the company has been able to carry out these “shareholder-centric” actions across different oil price cycles, not only when crude prices are rising.
Separately, Reuters reported that Chevron has signed a memorandum of understanding with the Syrian Petroleum Company and Qatar-based UCC Holding to assess potential offshore oil and gas exploration opportunities in Syria. A Chevron spokesperson said on February 4 that the agreement is an initial step. Syria’s Mediterranean coastline sits between major gas discoveries in Israel and Egypt, making the area of strategic interest.
Chevron already operates the Leviathan gas field, the largest energy asset in Israel. In the past, offshore Syria has attracted interest from other players. In 2013, Russian firm Soyuzneftegaz signed an agreement to explore the area, though the project was abandoned two years later as the country’s civil war intensified.
Most of Syria’s oil output currently comes from onshore fields in the northeast, including the Al-Omar field. UCC Holding, meanwhile, is a unit of Power International Holding, according to information published on its website.
Chevron Corporation (NYSE:CVX) operates as a fully integrated energy company, producing crude oil and natural gas, manufacturing fuels, lubricants, and petrochemicals, and developing technologies aimed at improving efficiency across its operations and the broader energy industry.
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.
READ NEXT: 15 Best Wide Moat Dividend Stocks to Invest in and 12 Best HVAC Stocks to Buy Now
Disclosure: None.
