The Long Investor

$CVX - RC -

Added 2023-10-31 13:16:57 +0000 UTC

Big week for Chevron, they announced that they had agreed to buy Hess for $53 Billion and then reported their earnings with an EPS miss by 17%.

Profits have surged but the price paid for Hess is still quite high and the market was slightly worried about this, likely causing the sharp decline which normally follows after a company agrees to buy another.

Analysts came out to say that any dip should be bought up and I tend to agree with them here, as I believe oil prices will continue to climb and this will continue up to Wave 5 at around $200.....some analysts have said that they expect the price to hit around $175-$180 after the Hess agreement, but I believe a new high will be made above $190.