Chevron (NYSE:CVX) PT Raised to $160.00

Chevron (NYSE:CVX) had its price objective increased by analysts at TD Cowen from $155.00 to $160.00 in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage presently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s price objective points to a potential downside of 0.79% from the company’s previous close.

A number of other analysts also recently weighed in on the company. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Monday, January 8th. Mizuho raised their target price on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Truist Financial reduced their target price on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Finally, DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research note on Tuesday, February 6th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.35.

Chevron Stock Performance

Shares of Chevron stock opened at $161.27 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $156.96 and a two-hundred day moving average price of $151.68. Chevron has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a market cap of $299.52 billion, a P/E ratio of 14.84, a PEG ratio of 2.44 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period last year, the business posted $3.55 EPS. The business’s revenue was down 4.1% compared to the same quarter last year. As a group, analysts anticipate that Chevron will post 13.58 EPS for the current year.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Chevron

A number of hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC raised its holdings in shares of Chevron by 1.6% in the 1st quarter. Private Advisor Group LLC now owns 229,076 shares of the oil and gas company’s stock worth $36,135,000 after purchasing an additional 3,571 shares during the period. J.W. Cole Advisors Inc. raised its holdings in shares of Chevron by 3.4% in the 1st quarter. J.W. Cole Advisors Inc. now owns 45,051 shares of the oil and gas company’s stock worth $7,124,000 after purchasing an additional 1,481 shares during the period. Granite Harbor Advisors Inc. raised its holdings in shares of Chevron by 5.7% in the 1st quarter. Granite Harbor Advisors Inc. now owns 2,651 shares of the oil and gas company’s stock worth $418,000 after purchasing an additional 142 shares during the period. Hartline Investment Corp raised its holdings in shares of Chevron by 309.0% in the 1st quarter. Hartline Investment Corp now owns 13,379 shares of the oil and gas company’s stock worth $2,110,000 after purchasing an additional 10,108 shares during the period. Finally, Ables Iannone Moore & Associates Inc. grew its stake in Chevron by 3.2% in the 1st quarter. Ables Iannone Moore & Associates Inc. now owns 7,760 shares of the oil and gas company’s stock valued at $1,224,000 after buying an additional 244 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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 of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.