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Wall Street Analysts Are Bullish on Top Energy Picks

Tipranks - Tipranks - Tue Jun 23, 4:02AM CDT

There’s a lot to be optimistic about in the Energy sector as 2 analysts just weighed in on Chevron (CVX) and Ovintiv (OVV) with bullish sentiments.

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Chevron (CVX)

Bank of America Securities analyst Jean Ann Salisbury maintained a Buy rating on Chevron yesterday and set a price target of $210.00. The company’s shares closed last Thursday at $173.63.

According to TipRanks.com, Salisbury is a 4-star analyst with an average return of 5.5% and a 58.0% success rate. Salisbury covers the NA sector, focusing on stocks such as Venture Global, Inc. Class A, Enterprise Products Partners, and Western Midstream Partners. ;'>

Currently, the analyst consensus on Chevron is a Strong Buy with an average price target of $217.39, representing a 23.8% upside. In a report issued on June 15, Jefferies also maintained a Buy rating on the stock with a $236.00 price target.

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Ovintiv (OVV)

In a report released today, Hanwen Chang from Wells Fargo upgraded Ovintiv to Buy, with a price target of $80.00. The company’s shares closed last Thursday at $52.41.

According to TipRanks.com, Chang is a 4-star analyst with an average return of 6.1% and a 47.9% success rate. Chang covers the NA sector, focusing on stocks such as Crescent Energy Company Class A, LandBridge Company LLC Class A, and Magnolia Oil & Gas. ;'>

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ovintiv with a $70.11 average price target, implying a 32.7% upside from current levels. In a report issued on June 15, Jefferies also maintained a Buy rating on the stock with a $80.00 price target.

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