Chevron (NYSE:CVX – Get Rating) had its price target cut by analysts at Truist Financial from $181.00 to $170.00 in a research note issued to investors on Tuesday, The Fly reports. Truist Financial’s target price would indicate a potential upside of 15.20% from the stock’s current price.
A number of other equities analysts have also issued reports on the company. Cowen raised their price target on Chevron from $165.00 to $179.00 and gave the stock an “outperform” rating in a report on Tuesday, June 7th. BMO Capital Markets lifted their price objective on Chevron from $140.00 to $170.00 in a research report on Wednesday, March 2nd. Societe Generale downgraded Chevron from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a report on Friday, May 20th. Barclays upped their price target on shares of Chevron from $183.00 to $196.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 31st. Finally, Royal Bank of Canada lowered shares of Chevron from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $160.00 to $165.00 in a research note on Thursday, April 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.05.
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Shares of Chevron stock opened at $147.57 on Tuesday. The firm has a market capitalization of $289.95 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.63 and a beta of 1.09. Chevron has a fifty-two week low of $92.86 and a fifty-two week high of $182.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43. The stock has a 50 day moving average of $165.76 and a 200 day moving average of $150.47.
Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings results 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 return on equity of 14.66% and a net margin of 11.10%. The firm had revenue of $54.37 billion for the quarter, compared to analysts’ expectations of $54.96 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The company’s quarterly revenue was up 69.8% on a year-over-year basis. Analysts forecast that Chevron will post 17.5 EPS for the current year.
In related news, insider David A. Inchausti sold 4,700 shares of the company’s 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 legal filing with the SEC, which is available at this hyperlink. Also, VP Eimear P. Bonner sold 68,032 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $165.00, for a total transaction of $11,225,280.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 561,726 shares of company stock worth $94,057,396. Insiders own 0.32% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Guinness Atkinson Asset Management Inc boosted its position in Chevron by 26.4% in the first quarter. Guinness Atkinson Asset Management Inc now owns 6,346 shares of the oil and gas company’s stock valued at $1,033,000 after buying an additional 1,326 shares in the last quarter. ACT Wealth Management LLC boosted its position in Chevron by 3.0% in the first quarter. ACT Wealth Management LLC now owns 4,781 shares of the oil and gas company’s stock valued at $778,000 after buying an additional 140 shares in the last quarter. FSB Premier Wealth Management Inc. lifted its position in shares of Chevron by 3.6% during the first quarter. FSB Premier Wealth Management Inc. now owns 2,151 shares of the oil and gas company’s stock worth $350,000 after purchasing an additional 75 shares in the last quarter. Coastal Investment Advisors Inc. lifted its position in shares of Chevron by 26.6% during the first quarter. Coastal Investment Advisors Inc. now owns 14,020 shares of the oil and gas company’s stock worth $2,283,000 after purchasing an additional 2,947 shares in the last quarter. Finally, MCIA Inc lifted its position in shares of Chevron by 6.3% during the first quarter. MCIA Inc now owns 13,769 shares of the oil and gas company’s stock worth $2,280,000 after purchasing an additional 822 shares in the last quarter. Hedge funds and other institutional investors own 65.89% of the company’s stock.
About Chevron (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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