Chevron (NYSE:CVX) PT Raised to $178.00

Chevron (NYSE:CVX) had its target price increased by investment analysts at HSBC from $175.00 to $178.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. HSBC’s price target suggests a potential upside of 11.56% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Barclays started coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. TD Cowen increased their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research report on Monday. Piper Sandler lifted their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Mizuho increased their target price on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Monday, January 8th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.35.

Chevron Stock Down 1.1 %

Chevron stock opened at $159.56 on Tuesday. Chevron has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The firm’s 50-day simple moving average is $157.04 and its 200 day simple moving average is $151.74. The stock has a market cap of $296.35 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.55 EPS. Research analysts predict that Chevron will post 13.71 EPS for the current fiscal year.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Chevron

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Chevron during the 4th quarter valued at about $2,902,007,000. Berkshire Hathaway Inc raised its stake in Chevron by 14.4% in the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after purchasing an additional 15,845,037 shares in the last quarter. Capital World Investors lifted its position in Chevron by 43.5% during the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after purchasing an additional 4,700,289 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Chevron by 73,888.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock worth $686,554,000 after buying an additional 4,596,584 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Chevron by 15,548.2% in the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after buying an additional 3,181,946 shares during the last quarter. Hedge funds and other 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.