Chevron (NYSE:CVX) Price Target Increased to $206.00 by Analysts at Wells Fargo & Company

Chevron (NYSE:CVX) had its price target boosted by research analysts at Wells Fargo & Company from $198.00 to $206.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 29.11% from the stock’s previous close.

Several other analysts have also weighed in on the company. Mizuho lifted their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research report on Monday, January 8th. TD Cowen raised their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday. Truist Financial cut their target price on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Finally, UBS Group raised their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

Chevron Price Performance

Shares of NYSE:CVX opened at $159.56 on Tuesday. Chevron has a 1-year low of $139.62 and a 1-year high of $171.70. The firm has a market capitalization of $296.35 billion, a PE ratio of 14.68, a PEG ratio of 2.43 and a beta of 1.12. The business’s 50 day moving average is $157.04 and its 200-day moving average is $151.74. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The company had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter last year, the firm earned $3.55 EPS. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. Sell-side analysts predict that Chevron will post 13.71 earnings per share for the current year.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Chevron

Several hedge funds and other institutional investors have recently made changes to their positions in CVX. Trust Co. of Toledo NA OH grew its stake in shares of Chevron by 4.8% during the third quarter. Trust Co. of Toledo NA OH now owns 61,737 shares of the oil and gas company’s stock worth $10,410,000 after purchasing an additional 2,837 shares during the period. Uncommon Cents Investing LLC grew its stake in shares of Chevron by 2.1% during the third quarter. Uncommon Cents Investing LLC now owns 12,072 shares of the oil and gas company’s stock worth $2,036,000 after purchasing an additional 250 shares during the period. Evanson Asset Management LLC grew its stake in shares of Chevron by 8.2% during the third quarter. Evanson Asset Management LLC now owns 17,236 shares of the oil and gas company’s stock worth $2,906,000 after purchasing an additional 1,299 shares during the period. Charles Schwab Trust Co grew its stake in shares of Chevron by 64.7% during the third quarter. Charles Schwab Trust Co now owns 26,474 shares of the oil and gas company’s stock worth $4,464,000 after purchasing an additional 10,396 shares during the period. Finally, Lineweaver Wealth Advisors LLC grew its stake in Chevron by 82.5% in the third quarter. Lineweaver Wealth Advisors LLC now owns 12,073 shares of the oil and gas company’s stock valued at $2,036,000 after acquiring an additional 5,459 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

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.