Chevron (NYSE:CVX) Given New $197.00 Price Target at Morgan Stanley

Chevron (NYSE:CVXGet Rating) had its price objective increased by Morgan Stanley from $196.00 to $197.00 in a report released on Tuesday, Benzinga reports. They currently have an equal weight rating on the oil and gas company’s stock.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company boosted their target price on shares of Chevron from $199.00 to $202.00 and gave the stock an overweight rating in a research report on Tuesday, January 10th. Barclays boosted their price target on shares of Chevron from $196.00 to $212.00 and gave the company an overweight rating in a report on Tuesday, January 3rd. BNP Paribas lowered shares of Chevron from a neutral rating to an underperform rating and set a $190.00 price target on the stock. in a report on Wednesday, December 14th. Citigroup boosted their price target on shares of Chevron from $155.00 to $180.00 in a report on Tuesday, November 22nd. Finally, Mizuho lowered shares of Chevron from a buy rating to a neutral rating and boosted their price target for the company from $185.00 to $200.00 in a report on Tuesday, January 10th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $186.71.

Chevron Trading Up 0.1 %

Shares of CVX stock opened at $180.83 on Tuesday. Chevron has a 1 year low of $125.27 and a 1 year high of $189.68. The firm’s fifty day simple moving average is $177.39 and its 200 day simple moving average is $166.01. The firm has a market capitalization of $349.66 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 0.81 and a beta of 1.18. The company has a current ratio of 1.40, a quick ratio of 1.15 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVXGet Rating) last announced its earnings results on Friday, October 28th. The oil and gas company reported $5.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.02 by $0.54. Chevron had a net margin of 14.36% and a return on equity of 22.36%. The business had revenue of $66.64 billion for the quarter, compared to analyst estimates of $61.44 billion. During the same quarter in the previous year, the firm posted $2.96 earnings per share. Chevron’s revenue was up 49.1% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron will post 18.91 EPS for the current year.

Insider Buying and Selling

In related news, VP R. Hewitt Pate sold 32,391 shares of the company’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $180.00, for a total transaction of $5,830,380.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Chevron news, CEO Michael K. Wirth sold 55,380 shares of the company’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $185.09, for a total transaction of $10,250,284.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP R. Hewitt Pate sold 32,391 shares of the company’s stock in a transaction dated 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 293,563 shares of company stock worth $53,186,421 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Northern Trust Corp increased its stake in shares of Chevron by 1.5% in the 2nd quarter. Northern Trust Corp now owns 25,219,717 shares of the oil and gas company’s stock valued at $3,651,311,000 after acquiring an additional 371,458 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Chevron by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock valued at $2,393,138,000 after acquiring an additional 189,762 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Chevron by 16.3% in the 2nd quarter. Legal & General Group Plc now owns 13,569,692 shares of the oil and gas company’s stock valued at $1,964,620,000 after acquiring an additional 1,899,104 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Chevron by 7.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 12,052,751 shares of the oil and gas company’s stock valued at $1,731,739,000 after acquiring an additional 847,841 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Chevron by 62.3% in the 2nd quarter. FMR LLC now owns 11,343,585 shares of the oil and gas company’s stock valued at $1,642,325,000 after acquiring an additional 4,354,660 shares during the last quarter. 69.37% of the stock is currently owned by institutional investors and hedge funds.

About Chevron

(Get Rating)

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.

Further Reading

Analyst Recommendations for Chevron (NYSE:CVX)

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