Chevron (NYSE:CVX) Rating Reiterated by Royal Bank of Canada

Chevron (NYSE:CVX)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a research note issued on Tuesday, Benzinga reports. They presently have a $170.00 target price on the oil and gas company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 13.56% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. Truist Financial reduced their price target on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. UBS Group cut their price target on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Scotiabank lowered their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Finally, Wells Fargo & Company lowered their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $178.59.

Chevron Trading Up 0.6 %

Shares of CVX stock opened at $149.70 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market capitalization of $273.79 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. The company has a 50 day moving average price of $145.66 and a 200 day moving average price of $154.05. Chevron has a fifty-two week low of $135.37 and a fifty-two week high of $170.17.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter last year, the company earned $3.08 EPS. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts predict that Chevron will post 11.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Chevron

Several institutional investors have recently modified their holdings of the business. Juncture Wealth Strategies LLC lifted its holdings in shares of Chevron by 42.8% during the 3rd quarter. Juncture Wealth Strategies LLC now owns 2,503 shares of the oil and gas company’s stock valued at $369,000 after purchasing an additional 750 shares in the last quarter. Walker Financial Services Inc. increased its holdings in shares of Chevron by 11.6% during the 3rd quarter. Walker Financial Services Inc. now owns 2,053 shares of the oil and gas company’s stock worth $302,000 after acquiring an additional 213 shares during the last quarter. Ferguson Shapiro LLC increased its holdings in shares of Chevron by 9.9% during the 3rd quarter. Ferguson Shapiro LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after acquiring an additional 268 shares during the last quarter. Pacific Sun Financial Corp increased its holdings in shares of Chevron by 10.9% during the 3rd quarter. Pacific Sun Financial Corp now owns 3,865 shares of the oil and gas company’s stock worth $569,000 after acquiring an additional 379 shares during the last quarter. Finally, Fermata Advisors LLC increased its holdings in shares of Chevron by 13.9% during the 3rd quarter. Fermata Advisors LLC now owns 7,868 shares of the oil and gas company’s stock worth $1,159,000 after acquiring an additional 960 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

About Chevron

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.