Citigroup Increases Chevron (NYSE:CVX) Price Target to $180.00

Chevron (NYSE:CVXGet Rating) had its price target boosted by equities research analysts at Citigroup from $155.00 to $180.00 in a research note issued on Tuesday, The Fly reports. Citigroup’s price objective indicates a potential downside of 2.30% from the stock’s current price.

Other analysts have also issued research reports about the stock. Societe Generale raised shares of Chevron from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Raymond James raised their price target on shares of Chevron from $188.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, October 31st. StockNews.com assumed coverage on shares of Chevron in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Cowen raised their price target on shares of Chevron from $160.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, October 31st. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $202.00 price target on shares of Chevron in a report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $179.85.

Chevron Stock Down 0.9 %

Shares of CVX opened at $184.24 on Tuesday. The stock has a market cap of $356.25 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 0.65 and a beta of 1.21. The company has a quick ratio of 1.15, a current ratio of 1.40 and a debt-to-equity ratio of 0.13. Chevron has a 12 month low of $110.73 and a 12 month high of $189.68. The company has a 50-day moving average price of $167.70 and a two-hundred day moving average price of $161.48.

Chevron (NYSE:CVXGet Rating) last announced its quarterly earnings results on Friday, October 28th. The oil and gas company reported $5.56 EPS for the quarter, topping analysts’ consensus estimates of $5.22 by $0.34. The firm had revenue of $66.64 billion during the quarter, compared to analysts’ expectations of $61.44 billion. Chevron had a net margin of 14.36% and a return on equity of 22.36%. The company’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.96 earnings per share. Equities analysts predict that Chevron will post 19.09 EPS for the current fiscal year.

Insider Transactions at Chevron

In related news, VP R. Hewitt Pate sold 32,391 shares of the business’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $180.00, for a total value of $5,830,380.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Michael K. Wirth sold 55,380 shares of the business’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $185.09, for a total value of $10,250,284.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP R. Hewitt Pate sold 32,391 shares of the business’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $180.00, for a total transaction of $5,830,380.00. The disclosure for this sale can be found here. Insiders have sold a total of 125,097 shares of company stock valued at $22,971,967 over the last three months. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chevron

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Client 1ST Advisory Group LLC increased its stake in Chevron by 7.6% in the 3rd quarter. Client 1ST Advisory Group LLC now owns 3,556 shares of the oil and gas company’s stock valued at $511,000 after buying an additional 252 shares during the last quarter. Eagle Bay Advisors LLC increased its stake in Chevron by 20.2% in the 3rd quarter. Eagle Bay Advisors LLC now owns 2,627 shares of the oil and gas company’s stock valued at $379,000 after buying an additional 441 shares during the last quarter. Continental Investors Services Inc. increased its stake in Chevron by 6,301.1% in the 3rd quarter. Continental Investors Services Inc. now owns 100,306 shares of the oil and gas company’s stock valued at $15,298,000 after buying an additional 98,739 shares during the last quarter. CVA Family Office LLC increased its stake in Chevron by 31.1% in the 3rd quarter. CVA Family Office LLC now owns 8,612 shares of the oil and gas company’s stock valued at $1,237,000 after buying an additional 2,045 shares during the last quarter. Finally, IHT Wealth Management LLC increased its stake in Chevron by 52.6% in the 3rd quarter. IHT Wealth Management LLC now owns 23,699 shares of the oil and gas company’s stock valued at $3,405,000 after buying an additional 8,172 shares during the last quarter. 69.30% of the stock is currently owned by institutional investors and hedge funds.

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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