Dahlman Rose Starts Chevron (CVX) at Hold, LNG Projects Add NT Risk

October 10, 2012 4:24 PM EDT
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Price: $115.42 -0.45%

Rating Summary:
    17 Buy, 12 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 34 | New: 34
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Dahlman Rose initiates coverage on Chevron (NYSE: CVX) with a Hold.

The firm comments, "We like CVX's solid Brent leverage and leading upstream profitability. However, two major LNG projects ($66 Bn) are key areas of near-term risk. Flattish production and diminishing free cash flow (while capex is peaking) particularly in a less robust oil price environment create headwinds."

For an analyst ratings summary and ratings history on Chevron click here. For more ratings news on Chevron click here.

Shares of Chevron closed at $117.36 yesterday.

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