Chevron (NYSE:CVX) Price Target Lowered to $168.00 at Barclays

Chevron (NYSE:CVX) had its price target reduced by stock analysts at Barclays from $185.00 to $168.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s target price would suggest a potential upside of 11.05% from the company’s current price.

Other research analysts also recently issued reports about the company. Scotiabank reduced their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company reduced their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. UBS Group dropped their price objective on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Mizuho decreased their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average price target of $179.00.

Chevron Stock Performance

NYSE CVX traded up $0.33 on Thursday, hitting $151.28. 1,860,285 shares of the stock were exchanged, compared to its average volume of 7,805,945. The company has a market capitalization of $276.68 billion, a PE ratio of 13.96, a P/E/G ratio of 2.64 and a beta of 1.09. 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 business’s fifty day moving average is $146.26 and its 200 day moving average is $154.19. Chevron has a 52 week low of $135.37 and a 52 week high of $170.17.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CVX. Curbstone Financial Management Corp boosted its position in shares of Chevron by 3.7% during the 3rd quarter. Curbstone Financial Management Corp now owns 13,604 shares of the oil and gas company’s stock worth $2,003,000 after acquiring an additional 486 shares in the last quarter. Czech National Bank boosted its holdings in shares of Chevron by 6.1% in the 3rd quarter. Czech National Bank now owns 346,490 shares of the oil and gas company’s stock valued at $51,028,000 after purchasing an additional 19,878 shares in the last quarter. Kades & Cheifetz LLC boosted its holdings in shares of Chevron by 1.9% in the 3rd quarter. Kades & Cheifetz LLC now owns 3,855 shares of the oil and gas company’s stock valued at $568,000 after purchasing an additional 73 shares in the last quarter. Cascade Investment Advisors Inc. increased its stake in shares of Chevron by 10.2% in the 3rd quarter. Cascade Investment Advisors Inc. now owns 8,157 shares of the oil and gas company’s stock valued at $1,201,000 after purchasing an additional 755 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Chevron by 1.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 318,703 shares of the oil and gas company’s stock worth $46,935,000 after buying an additional 5,539 shares in the last quarter. Institutional investors 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.