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As Oil Prices Rise, Chevron Is Looking Like a Bargain

·2 min read
As Oil Prices Rise, Chevron Is Looking Like a Bargain
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  • CL=F
  • NG=F
  • CVX

The price of oil is likely to stay high for a while, and one of the best ways to play it is by buying Chevron UBS analyst Jon Rigby upgraded his rating on the shares to Buy from Neutral on Monday as the bank increased its medium- and long-term targets for oil prices. Oil prices have been trading around $80 a barrel for the past month, and UBS now thinks that those levels will hold. For 2022, it raised its target to $81 from $63 and for 2023, it increased the target to $80 from $68.