Truist: Raised Chevron (NYSE:CVX) price target to $179 Maintain hold rating

/ / Energy /

Truist analyst Neal Dingmann raised its price target on Chevron (NYSE:CVX) to $179 from $169, but maintained its hold rating on the stock. The analyst told investors in a research note that the company continues to make headlines with its buybacks, disclosing a $75 billion buyback authorization last week, but the announcement was more of a “catch-up” move that brought Chevron’s shareholder return program more in line with the larger independent exploration and production companies. He added that it became “a little cautious” about Chevron’s overall upstream operations plans given its hints that production growth was declining in the Permian.

Truist: Raised Chevron (NYSE:CVX) price target to $179 Maintain hold rating Read Post »

Rivian (NASDAQ:RIVN) announced it will cut 6% of its workforce, involving about 800 people

/ / Consumer Discretionary /

On Wednesday, Rivian (NASDAQ:RIVN) announced a 6% layoff to all employees except “manufacturing jobs in Nomol,” and its CEO said “to achieve long-term goals, resources must be focused on improving and achieving profitability, while ensuring the right future products, services and technologies,” according to a memo. This is the second layoff last year by the electric car maker, involving about 800 employees. Before the latest layoffs, the company had about 14,000 employees worldwide. Following a wave of layoffs at tech companies last July, Rivian did a similar number of layoffs at the time.

Rivian (NASDAQ:RIVN) announced it will cut 6% of its workforce, involving about 800 people Read Post »

TotalEnergies (NYSE:TTE) adjusted earnings per share for the fourth quarter of 2022 were $2.97 versus $3.07 expected

/ / Energy /

TotalEnergies se (NYSE:TTE) adjusted earnings per share for the fourth quarter of 2022 were $2.97 versus $3.07 expected. Adjusted EBITDA for the fourth quarter was $16.00 billion versus $15.26 billion. About TotalEnergies TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

TotalEnergies (NYSE:TTE) adjusted earnings per share for the fourth quarter of 2022 were $2.97 versus $3.07 expected Read Post »

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