Chevron (NYSE:CVX – Get Free Report) was upgraded by research analysts at Freedom Broker from a “sell” rating to a “hold” rating in a report released on Thursday, Benzinga reports. The firm presently has a $218.00 price target on the oil and gas company’s stock. Freedom Broker‘s price objective suggests a potential upside of 2.39% from the stock’s current price.
CVX has been the topic of several other research reports. Barclays increased their price target on shares of Chevron from $208.00 to $244.00 and gave the stock an “equal weight” rating in a research report on Monday. JPMorgan Chase & Co. boosted their price objective on Chevron from $190.00 to $222.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Raymond James Financial cut their price objective on Chevron from $230.00 to $225.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 21st. Weiss Ratings downgraded Chevron from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday. Finally, Sanford C. Bernstein increased their target price on Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $221.88.
Read Our Latest Stock Analysis on CVX
Chevron Price Performance
Shares of CVX stock opened at $212.92 on Thursday. The firm has a market cap of $420.68 billion, a P/E ratio of 15.58, a P/E/G ratio of 0.51 and a beta of 0.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. Chevron has a 1-year low of $146.49 and a 1-year high of $236.48. The firm has a fifty day moving average of $214.66 and a two-hundred day moving average of $194.17.
Chevron (NYSE:CVX – Get Free Report) last released its earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.87 by $0.41. The company had revenue of $65.24 billion during the quarter, compared to the consensus estimate of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The company’s revenue was up 36.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.85 EPS. As a group, research analysts anticipate that Chevron will post 18.56 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Chevron news, insider Andrew Walz sold 16,800 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the sale, the insider directly owned 14 shares of the company’s stock, valued at $2,814.84. This trade represents a 99.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider R. Pate sold 40,700 shares of the stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total value of $9,224,655.00. Following the completion of the sale, the insider directly owned 8,791 shares in the company, valued at $1,992,480.15. This represents a 82.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 379,470 shares of company stock worth $77,216,415 in the last three months. 0.56% of the stock is owned by insiders.
Institutional Trading of Chevron
Large investors have recently modified their holdings of the company. Tortoise Investment Management LLC raised its stake in Chevron by 5.7% during the 3rd quarter. Tortoise Investment Management LLC now owns 2,255 shares of the oil and gas company’s stock valued at $460,000 after acquiring an additional 121 shares in the last quarter. Everest Financial Group LLC raised its stake in shares of Chevron by 17.0% during the third quarter. Everest Financial Group LLC now owns 1,585 shares of the oil and gas company’s stock valued at $324,000 after purchasing an additional 230 shares in the last quarter. Eurizon Capital SGR S.p.A. raised its stake in shares of Chevron by 69.0% during the third quarter. Eurizon Capital SGR S.p.A. now owns 812,021 shares of the oil and gas company’s stock valued at $165,902,000 after purchasing an additional 331,621 shares in the last quarter. Werba Rubin Papier Wealth Management lifted its holdings in Chevron by 1.4% in the third quarter. Werba Rubin Papier Wealth Management now owns 4,991 shares of the oil and gas company’s stock worth $1,019,000 after purchasing an additional 68 shares during the period. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. lifted its holdings in Chevron by 54.9% in the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 1,591 shares of the oil and gas company’s stock worth $325,000 after purchasing an additional 564 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.
Chevron Company Profile
Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.
The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.
Further Reading
- Five stocks we like better than Chevron
- These 3 Underperforming Stocks Are Seeing Notable CEO Insider Trades
- GE Aerospace Has a $170 Billion Backlog, But Is the Stock Worth the Premium?
- Google’s Credit Backstop May Be TeraWulf’s Biggest Advantage
- Could the Midterms Revive Medicare for All? 3 Healthcare Stocks to Watch
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.
