Chevron

Truist analyst Neal Dingmann raised its price target on Chevron (NYSE:CVX) to $179 from $169, but maintained its hold rating on the stock. The analyst told investors in a research note that the company continues to make headlines with its buybacks, disclosing a $75 billion buyback authorization last week, but the announcement was more of a “catch-up” move that brought Chevron’s shareholder return program more in line with the larger independent exploration and production companies. He added that it became “a little cautious” about Chevron’s overall upstream operations plans given its hints that production growth was declining in the Permian.