Global Finance News
02 Jul 2026, 14:36
Chevron and Shell Stocks Rise After Positive Analyst Calls Despite Oil Price Weakness
Shares of major energy companies Chevron (NYSE: CVX) and Shell (NYSE: SHEL) traded higher on Thursday after receiving supportive analyst actions, with investors focusing on their long-term earnings potential despite recent weakness in crude oil prices.
Chevron gained around 2% after Wolfe Research upgraded the stock to Outperform from Peer Perform and set a $210 price target. Analyst Doug Leggate cited confidence in Chevron's high-quality asset portfolio, resilient cash flow generation, and disciplined capital allocation, signaling that the recent pullback in energy shares presents an attractive opportunity for investors.
Meanwhile, Shell advanced approximately 1.6% after TD Cowen reiterated its Buy rating on the stock. The firm reaffirmed its positive view of Shell's diversified business model, highlighting the company's exposure to LNG, upstream production, refining, and energy trading as key strengths that should help support earnings across different commodity price environments.
The analyst actions came as Brent crude remained under pressure this week, with oil prices retreating as geopolitical tensions in the Middle East eased and investors shifted their focus back to global demand fundamentals. Despite the softer commodity backdrop, analysts continue to favor high-quality integrated energy companies with strong balance sheets and shareholder-friendly capital allocation strategies.
# Why CVX and SHEL Stocks Moved Higher
Several factors supported the two energy stocks:
* Wolfe Research upgraded Chevron to Outperform from Peer Perform with a $210 price target.
* TD Cowen reiterated its Buy rating on Shell.
* Analysts expressed confidence in both companies' long-term cash flow generation and disciplined capital allocation.
* Investors continue to favor large integrated energy companies capable of delivering resilient earnings despite lower oil prices.
The positive analyst commentary helped lift both Chevron and Shell shares, outperforming broader energy markets during Thursday's trading session.
Shares of major energy companies Chevron (NYSE: CVX) and Shell (NYSE: SHEL) traded higher on Thursday after receiving supportive analyst actions, with investors focusing on their long-term earnings potential despite recent weakness in crude oil prices.
Chevron gained around 2% after Wolfe Research upgraded the stock to Outperform from Peer Perform and set a $210 price target. Analyst Doug Leggate cited confidence in Chevron's high-quality asset portfolio, resilient cash flow generation, and disciplined capital allocation, signaling that the recent pullback in energy shares presents an attractive opportunity for investors.
Meanwhile, Shell advanced approximately 1.6% after TD Cowen reiterated its Buy rating on the stock. The firm reaffirmed its positive view of Shell's diversified business model, highlighting the company's exposure to LNG, upstream production, refining, and energy trading as key strengths that should help support earnings across different commodity price environments.
The analyst actions came as Brent crude remained under pressure this week, with oil prices retreating as geopolitical tensions in the Middle East eased and investors shifted their focus back to global demand fundamentals. Despite the softer commodity backdrop, analysts continue to favor high-quality integrated energy companies with strong balance sheets and shareholder-friendly capital allocation strategies.
# Why CVX and SHEL Stocks Moved Higher
Several factors supported the two energy stocks:
* Wolfe Research upgraded Chevron to Outperform from Peer Perform with a $210 price target.
* TD Cowen reiterated its Buy rating on Shell.
* Analysts expressed confidence in both companies' long-term cash flow generation and disciplined capital allocation.
* Investors continue to favor large integrated energy companies capable of delivering resilient earnings despite lower oil prices.
The positive analyst commentary helped lift both Chevron and Shell shares, outperforming broader energy markets during Thursday's trading session.