Chevron (NYSE:CVX) PT Raised to $179.00 at Cowen

Chevron (NYSE:CVXGet Rating) had its price target boosted by stock analysts at Cowen from $165.00 to $179.00 in a note issued to investors on Tuesday, Stock Target Advisor reports. Cowen’s price objective would suggest a potential upside of 1.23% from the company’s previous close.

CVX has been the topic of several other reports. Royal Bank of Canada lowered shares of Chevron from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $160.00 to $165.00 in a research note on Thursday, April 21st. Morgan Stanley lowered their price objective on shares of Chevron from $188.00 to $185.00 and set an “equal weight” rating on the stock in a research note on Monday. Raymond James boosted their price objective on shares of Chevron from $173.00 to $191.00 and gave the stock an “outperform” rating in a research note on Monday, April 18th. UBS Group boosted their price objective on shares of Chevron from $150.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, April 5th. Finally, Piper Sandler upped their price target on shares of Chevron from $150.00 to $173.00 and gave the company an “overweight” rating in a research note on Wednesday, March 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $170.55.

CVX opened at $176.83 on Tuesday. The stock has a market capitalization of $347.44 billion, a P/E ratio of 16.62, a P/E/G ratio of 0.91 and a beta of 1.09. Chevron has a 12 month low of $92.86 and a 12 month high of $180.96. The firm’s fifty day simple moving average is $167.90 and its 200 day simple moving average is $145.79. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings data on Friday, April 29th. The oil and gas company reported $3.36 EPS for the quarter, missing the consensus estimate of $3.44 by ($0.08). Chevron had a net margin of 11.10% and a return on equity of 14.66%. The company had revenue of $54.37 billion during the quarter, compared to the consensus estimate of $54.96 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The company’s revenue was up 69.8% compared to the same quarter last year. On average, equities research analysts predict that Chevron will post 16.95 EPS for the current fiscal year.

In other news, insider David A. Inchausti sold 4,700 shares of Chevron stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $161.09, for a total value of $757,123.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Enrique Hernandez, Jr. sold 5,805 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $160.00, for a total transaction of $928,800.00. Following the completion of the transaction, the director now owns 22,978 shares of the company’s stock, valued at $3,676,480. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 561,726 shares of company stock valued at $94,057,396. Corporate insiders own 0.32% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CVX. Zacks Investment Management grew its holdings in Chevron by 2.9% during the 3rd quarter. Zacks Investment Management now owns 854,830 shares of the oil and gas company’s stock valued at $86,723,000 after buying an additional 24,107 shares in the last quarter. Invesco Ltd. grew its stake in shares of Chevron by 16.0% during the third quarter. Invesco Ltd. now owns 13,482,487 shares of the oil and gas company’s stock worth $1,367,797,000 after acquiring an additional 1,859,425 shares during the last quarter. Cantor Fitzgerald Investment Adviser L.P. lifted its holdings in shares of Chevron by 1.4% during the fourth quarter. Cantor Fitzgerald Investment Adviser L.P. now owns 85,974 shares of the oil and gas company’s stock worth $10,089,000 after purchasing an additional 1,176 shares during the period. Greystone Financial Group LLC lifted its holdings in Chevron by 9.6% in the fourth quarter. Greystone Financial Group LLC now owns 63,741 shares of the oil and gas company’s stock valued at $7,480,000 after acquiring an additional 5,573 shares during the period. Finally, Retirement Systems of Alabama lifted its holdings in Chevron by 7.4% in the fourth quarter. Retirement Systems of Alabama now owns 1,479,134 shares of the oil and gas company’s stock valued at $173,576,000 after acquiring an additional 102,112 shares during the period. Institutional investors own 65.89% of the company’s stock.

Chevron Company Profile (Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation 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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