Chevron Corporation (CVX) Gets Higher Target at Argus Research as Shareholder Returns Stand Out

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Argus Research has increased its price target for Chevron Corporation (CVX) to $203 from $183, maintaining a Buy rating due to the company’s strong Q4 earnings and consistent shareholder returns through dividends and buybacks across various oil price cycles. Separately, Chevron signed a memorandum of understanding with Syrian Petroleum Company and UCC Holding to explore offshore oil and gas opportunities in Syria, an area strategically significant due to its location between major gas discoveries in Israel and Egypt.

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