Chevron (NYSE:CVX) PT Raised to $205.00

Chevron (NYSE:CVX) had its target price lifted by analysts at Mizuho from $200.00 to $205.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Mizuho’s price objective would suggest a potential upside of 25.36% from the stock’s current price.

CVX has been the subject of a number of other reports. Royal Bank of Canada raised their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. UBS Group lifted their target price on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Wells Fargo & Company increased their price target on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Truist Financial lifted their price objective on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Finally, HSBC increased their target price on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.10.

Chevron Price Performance

NYSE CVX opened at $163.53 on Monday. The company has a 50 day simple moving average of $158.67 and a 200-day simple moving average of $151.67. Chevron has a 52-week low of $139.62 and a 52-week high of $171.70. The firm has a market capitalization of $302.04 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 2.44 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter last year, the business posted $3.55 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities research analysts predict that Chevron will post 13.57 earnings per share for the current fiscal year.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the sale, the director now directly owns 27,725 shares in the company, valued at $4,581,279. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,796 shares of company stock worth $2,575,361. 0.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Chevron during the 4th quarter worth $2,902,007,000. Berkshire Hathaway Inc lifted its stake in shares of Chevron by 14.4% during 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 acquiring an additional 15,845,037 shares during the period. Capital World Investors boosted its holdings in Chevron by 43.5% in 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 acquiring an additional 4,700,289 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Chevron by 73,888.2% in the fourth 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 purchasing an additional 4,596,584 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in Chevron by 15,548.2% during 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 purchasing an additional 3,181,946 shares during the last quarter. Institutional investors and hedge funds 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.