UBS Group Issues Pessimistic Forecast for Chevron (NYSE:CVX) Stock Price

Chevron (NYSE:CVX) had its target price dropped by investment analysts at UBS Group from $195.00 to $194.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. UBS Group’s price target would suggest a potential upside of 26.68% from the stock’s current price.

CVX has been the subject of a number of other reports. Raymond James decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday. Wells Fargo & Company cut their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday. Scotiabank decreased their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Barclays upped their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.33.

Chevron Stock Performance

Shares of NYSE:CVX opened at $153.14 on Monday. The company has a market cap of $275.20 billion, a P/E ratio of 15.75, a PEG ratio of 1.29 and a beta of 1.11. Chevron has a one year low of $135.37 and a one year high of $167.11. The business’s 50-day simple moving average is $152.97 and its 200 day simple moving average is $150.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the firm earned $3.45 EPS. On average, sell-side analysts forecast that Chevron will post 11.45 earnings per share for the current fiscal year.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Institutional Trading of Chevron

Several hedge funds have recently added to or reduced their stakes in CVX. Czech National Bank lifted its stake 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 worth $51,028,000 after acquiring an additional 19,878 shares during the period. Azzad Asset Management Inc. ADV lifted its position in Chevron by 3.2% in the third quarter. Azzad Asset Management Inc. ADV now owns 30,489 shares of the oil and gas company’s stock worth $4,490,000 after purchasing an additional 942 shares during the period. Smith Anglin Financial LLC boosted its stake in Chevron by 4.5% during the 3rd quarter. Smith Anglin Financial LLC now owns 6,384 shares of the oil and gas company’s stock valued at $940,000 after purchasing an additional 275 shares in the last quarter. Chemistry Wealth Management LLC increased its position in shares of Chevron by 17.7% during the 3rd quarter. Chemistry Wealth Management LLC now owns 4,144 shares of the oil and gas company’s stock valued at $610,000 after purchasing an additional 622 shares during the period. Finally, Miracle Mile Advisors LLC raised its stake in shares of Chevron by 1.4% in the 3rd quarter. Miracle Mile Advisors LLC now owns 26,703 shares of the oil and gas company’s stock worth $3,933,000 after buying an additional 372 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.