Morgan Stanley Increases Chevron (NYSE:CVX) Price Target to $188.00

Chevron (NYSE:CVXGet Rating) had its price target upped by stock analysts at Morgan Stanley from $166.00 to $188.00 in a report released on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Morgan Stanley’s price objective suggests a potential upside of 14.23% from the stock’s previous close.

CVX has been the subject of several other research reports. The Goldman Sachs Group lifted their price target on shares of Chevron from $154.00 to $176.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 15th. Wells Fargo & Company lifted their price objective on Chevron from $150.00 to $184.00 and gave the stock an “overweight” rating in a research note on Friday, March 11th. UBS Group raised their target price on Chevron from $150.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, April 5th. Piper Sandler boosted their price objective on shares of Chevron from $150.00 to $173.00 and gave the company an “overweight” rating in a report on Wednesday, March 2nd. Finally, Citigroup increased their target price on shares of Chevron from $124.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday, March 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $161.59.

NYSE:CVX opened at $164.58 on Friday. The company has a market cap of $323.36 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 0.88 and a beta of 1.14. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.02 and a current ratio of 1.26. The stock’s fifty day moving average price is $158.68 and its two-hundred day moving average price is $132.89. Chevron has a 52-week low of $92.86 and a 52-week high of $174.76.

Chevron (NYSE:CVXGet Rating) last issued its quarterly earnings results on Friday, January 28th. The oil and gas company reported $2.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.11 by ($0.55). The firm had revenue of $48.22 billion for the quarter, compared to analyst estimates of $45.22 billion. Chevron had a net margin of 9.62% and a return on equity of 11.50%. The company’s revenue was up 91.0% compared to the same quarter last year. During the same period last year, the company earned ($0.01) EPS. On average, equities analysts predict that Chevron will post 14.84 EPS for the current fiscal year.

In other news, insider David A. Inchausti sold 7,200 shares of the business’s stock in a transaction dated Monday, January 31st. The shares were sold at an average price of $131.29, for a total transaction of $945,288.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP R. Hewitt Pate sold 125,300 shares of the company’s stock in a transaction dated Monday, February 7th. The shares were sold at an average price of $137.59, for a total transaction of $17,240,027.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 450,933 shares of company stock worth $61,715,578. Company insiders own 0.29% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Eagle Capital Management LLC grew its stake in shares of Chevron by 3.1% in the second quarter. Eagle Capital Management LLC now owns 34,480 shares of the oil and gas company’s stock valued at $3,611,000 after acquiring an additional 1,047 shares in the last quarter. Morgan Stanley grew its position in shares of Chevron by 6.9% during the 2nd quarter. Morgan Stanley now owns 23,302,417 shares of the oil and gas company’s stock worth $2,440,693,000 after purchasing an additional 1,513,296 shares in the last quarter. Keudell Morrison Wealth Management increased its holdings in shares of Chevron by 1.8% during the third quarter. Keudell Morrison Wealth Management now owns 19,531 shares of the oil and gas company’s stock worth $1,981,000 after purchasing an additional 340 shares during the period. Mount Yale Investment Advisors LLC bought a new position in Chevron during the 3rd quarter worth $214,000. Finally, Victory Capital Management Inc. raised its holdings in Chevron by 22.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,155,502 shares of the oil and gas company’s stock valued at $117,226,000 after acquiring an additional 213,350 shares in the last quarter. Institutional investors and hedge funds own 65.32% of the company’s stock.

Chevron Company Profile (Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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