Chevron (NYSE:CVX) Price Target Raised to $164.00

Chevron (NYSE:CVX) had its price target raised by investment analysts at Truist Financial from $160.00 to $164.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the oil and gas company’s stock. Truist Financial’s price target would indicate a potential upside of 4.56% from the stock’s previous close.

CVX has been the topic of a number of other reports. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Scotiabank dropped their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Piper Sandler reduced their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Mizuho dropped their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Finally, Wells Fargo & Company increased their price target on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $174.87.

Chevron Trading Up 1.0 %

Shares of NYSE:CVX opened at $156.85 on Monday. The business’s fifty day simple moving average is $153.78 and its 200-day simple moving average is $150.95. Chevron has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $281.87 billion, a PE ratio of 17.24, a P/E/G ratio of 2.93 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the prior year, the business posted $3.05 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts predict that Chevron will post 10.5 earnings per share for the current fiscal year.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.20% 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 the stock. Legacy Investment Solutions LLC purchased a new stake in Chevron in the 3rd quarter valued at $29,000. Rational Advisors LLC acquired a new position in shares of Chevron during the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron in the third quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron during the third quarter worth about $31,000. Finally, Cyrus J. Lawrence LLC raised its stake in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds 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.