Chevron (NYSE:CVX) Price Target Cut to $169.00 by Analysts at Wells Fargo & Company

Chevron (NYSE:CVX) had its target price lowered by research analysts at Wells Fargo & Company from $196.00 to $169.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 16.43% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Truist Financial lowered their price target on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays decreased their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, Royal Bank of Canada reduced their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $180.24.

Chevron Stock Up 2.2 %

CVX traded up $3.16 on Friday, reaching $145.15. 2,424,825 shares of the company traded hands, compared to its average volume of 7,798,727. Chevron has a 52-week low of $135.37 and a 52-week high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The company has a market cap of $265.47 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 2.68 and a beta of 1.09. The stock’s 50 day moving average price is $146.90 and its 200-day moving average price is $154.34.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $3.08 earnings per share. On average, sell-side analysts expect that Chevron will post 11.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. American Capital Advisory LLC raised its stake in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in Chevron in the fourth quarter valued at about $30,000. Anfield Capital Management LLC raised its position in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC boosted its holdings 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 valued at $39,000 after purchasing an additional 100 shares in the last quarter. Finally, Cooksen Wealth LLC bought a new stake in shares of Chevron in the 4th quarter valued at approximately $40,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.