Tempered By Its Growth, Vetr Issues Downgrade On Chevron

On Thursday, the Vetr crowd downgraded its rating on Chevron Corporation CVX from 4.5 stars (Strong Buy), issued 35 days ago, to 4 stars (Buy). Crowd sentiment at the time of the downgrade remained unanimously positive, with 100 percent of Vetr user ratings bullish.

Chevron entered September on a strong uptrend, gaining nearly 4 percent from the end of August through the Labor Day weekend. This boost comes after an initial jump in shares following a strong earnings filing late in July in which the company showed 34.48 billion in revenue, topping analyst estimates, and showing year-over-year growth of more than 17.5 percent.

By the end of Thursday's trading day, Chevron finished slightly up at $111.80.

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Currently, the Vetr crowd's average price target on Chevron is up at $123.62, which is above the average analyst price target of $120.57. Less than 2 percent of Vetr users are holding CVX in their watch-lists.