Chevron (NYSE:CVX) had its price target increased by stock analysts at JPMorgan Chase & Co. from $97.00 to $103.00 in a research report issued on Monday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 15.12% from the stock’s previous close.
Other analysts also recently issued research reports about the stock. Argus reiterated a “buy” rating and issued a $88.00 target price (down previously from $150.00) on shares of Chevron in a report on Thursday, March 26th. Bank of America lifted their target price on shares of Chevron from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $92.00 target price on shares of Chevron in a report on Friday. Mizuho decreased their price target on Chevron from $140.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Finally, Royal Bank of Canada boosted their price objective on Chevron from $85.00 to $100.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 14th. Seven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Chevron currently has a consensus rating of “Buy” and a consensus target price of $113.05.
Shares of NYSE:CVX traded up $0.03 during midday trading on Monday, hitting $89.47. 89,555 shares of the company’s stock were exchanged, compared to its average volume of 13,185,731. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.07 and a quick ratio of 0.85. Chevron has a 12 month low of $51.60 and a 12 month high of $127.00. The company has a market cap of $166.98 billion, a PE ratio of 43.64 and a beta of 1.31. The stock has a 50 day moving average price of $78.14 and a 200-day moving average price of $104.97.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $1.29. The firm had revenue of $31.50 billion during the quarter, compared to analyst estimates of $30.46 billion. Chevron had a return on equity of 8.17% and a net margin of 2.71%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.47 EPS. On average, analysts anticipate that Chevron will post -0.9 EPS for the current fiscal year.
In related news, Director John Frank purchased 1,000 shares of Chevron stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $96.59 per share, for a total transaction of $96,590.00. Following the completion of the transaction, the director now owns 5,114 shares in the company, valued at $493,961.26. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in CVX. Wealth Quarterback LLC bought a new position in shares of Chevron in the fourth quarter valued at approximately $16,676,410,000. BlackRock Inc. lifted its stake in Chevron by 4.9% in the 1st quarter. BlackRock Inc. now owns 133,388,637 shares of the oil and gas company’s stock worth $9,665,343,000 after purchasing an additional 6,208,177 shares in the last quarter. State Street Corp boosted its holdings in Chevron by 1.5% in the 4th quarter. State Street Corp now owns 114,141,035 shares of the oil and gas company’s stock valued at $13,755,136,000 after purchasing an additional 1,659,702 shares during the period. Capital International Investors boosted its holdings in Chevron by 4.6% in the 4th quarter. Capital International Investors now owns 32,580,587 shares of the oil and gas company’s stock valued at $3,926,286,000 after purchasing an additional 1,429,639 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Chevron by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 27,672,923 shares of the oil and gas company’s stock valued at $3,328,591,000 after purchasing an additional 779,059 shares in the last quarter. Hedge funds and other institutional investors own 66.85% of the company’s stock.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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