Chevron (NYSE:CVX) Price Target Cut to $181.00

Chevron (NYSE:CVX – Get Rating) had its price target cut by research analysts at Truist Financial from $186.00 to $181.00 in a research note issued on Monday, The Fly reports. Truist Financial’s price objective indicates a potential upside of 15.53% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Barclays upped their target price on Chevron from $148.00 to $183.00 in a research report on Wednesday, March 9th. Morgan Stanley upped their target price on Chevron from $166.00 to $188.00 and gave the company an “equal weight” rating in a research report on Friday, April 22nd. JPMorgan Chase & Co. downgraded Chevron from a “neutral” rating to an “underweight” rating and set a $169.00 price target on the stock. in a research note on Friday, March 11th. Wells Fargo & Company upped their price target on Chevron from $150.00 to $184.00 and gave the stock an “overweight” rating in a research note on Friday, March 11th. Finally, Royal Bank of Canada downgraded Chevron from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $160.00 to $165.00 in a research note on Thursday, April 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Chevron has a consensus rating of “Buy” and a consensus price target of $163.09.

Shares of CVX stock opened at $156.67 on Monday. The stock’s fifty day simple moving average is $161.56 and its 200 day simple moving average is $135.42. Chevron has a twelve month low of $92.86 and a twelve month high of $174.76. The firm has a market capitalization of $307.82 billion, a P/E ratio of 14.72, a P/E/G ratio of 0.81 and a beta of 1.14. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.22.

Chevron (NYSE:CVX – Get Rating) last released its quarterly earnings results on Friday, April 29th. The oil and gas company reported $3.36 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.09. Chevron had a return on equity of 11.50% and a net margin of 9.62%. The firm had revenue of $54.37 billion for the quarter, compared to analyst estimates of $54.96 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The business’s revenue was up 69.8% on a year-over-year basis. As a group, equities research analysts expect that Chevron will post 16.83 EPS for the current fiscal year.

In other Chevron news, CEO Michael K. Wirth sold 90,000 shares of the stock in a transaction on Monday, February 14th. The stock was sold at an average price of $136.81, for a total transaction of $12,312,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Pierre R. Breber sold 18,500 shares of the firm’s stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $138.00, for a total value of $2,553,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 378,733 shares of company stock valued at $51,995,290. 0.32% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of CVX. Bellwether Advisors LLC purchased a new stake in shares of Chevron in the third quarter worth $25,000. Your Advocates Ltd. LLP purchased a new stake in Chevron during the first quarter valued at about $25,000. Cranbrook Wealth Management LLC raised its position in Chevron by 63.5% during the third quarter. Cranbrook Wealth Management LLC now owns 260 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 101 shares in the last quarter. Avondale Wealth Management purchased a new position in shares of Chevron in the fourth quarter worth about $26,000. Finally, Rational Advisors LLC increased its holdings in shares of Chevron by 116.3% in the fourth quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company’s stock worth $26,000 after buying an additional 121 shares during the period. Institutional investors own 65.89% 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.

See Also