Chevron (NYSE:CVX – Get Free Report) had its price target upped by equities researchers at Mizuho from $225.00 to $230.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the oil and gas company’s stock. Mizuho’s price objective points to a potential upside of 24.53% from the stock’s current price.
A number of other brokerages also recently commented on CVX. Argus set a $203.00 target price on shares of Chevron in a report on Tuesday, February 3rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $216.00 target price on shares of Chevron in a report on Wednesday, May 6th. Morgan Stanley boosted their price target on Chevron from $212.00 to $214.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. TD Cowen boosted their price target on Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Finally, Melius Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $205.70.
View Our Latest Analysis on CVX
Chevron Stock Performance
Chevron (NYSE:CVX – Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.18 earnings per share. Research analysts expect that Chevron will post 15.74 EPS for the current fiscal year.
Insider Buying and Selling at Chevron
In other news, Director John B. Hess sold 380,000 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $187.92, for a total value of $26,233,632.00. Following the sale, the insider owned 11,337 shares in the company, valued at $2,130,449.04. The trade was a 92.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,179,699 shares of company stock valued at $224,675,517. Insiders own 0.56% of the company’s stock.
Institutional Investors Weigh In On Chevron
A number of large investors have recently bought and sold shares of the company. Summit Financial Wealth Advisors LLC boosted its position in Chevron by 1.0% in the first quarter. Summit Financial Wealth Advisors LLC now owns 33,265 shares of the oil and gas company’s stock valued at $6,882,000 after buying an additional 329 shares during the last quarter. Axiom Investment Management LLC purchased a new stake in Chevron in the first quarter valued at approximately $188,000. Summitry LLC boosted its position in Chevron by 3,584.8% in the first quarter. Summitry LLC now owns 134,125 shares of the oil and gas company’s stock valued at $27,750,000 after buying an additional 130,485 shares during the last quarter. WNY Asset Management LLC purchased a new stake in Chevron in the first quarter valued at approximately $804,000. Finally, Segall Bryant & Hamill LLC boosted its position in Chevron by 22.5% in the first quarter. Segall Bryant & Hamill LLC now owns 215,063 shares of the oil and gas company’s stock valued at $44,497,000 after buying an additional 39,443 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.
About Chevron
Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.
Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.
Read More
- Five stocks we like better than Chevron
- What Investors Need to Know About TSMC’s Hefty 17% Dividend Increase
- The SpaceX IPO Frenzy Is Creating 2 Very Different Bets
- AI Can’t Reach the Real World Without These 3 Stocks
- Banks Are Buying Back Stock Hand Over Fist, Including These 3 Names
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.
