Chevron (NYSE:CVX) PT Lowered to $169.00

Chevron (NYSE:CVX) had its price objective lowered by analysts at Wells Fargo & Company from $196.00 to $169.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 16.43% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. UBS Group dropped their price objective on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Royal Bank of Canada lowered their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Truist Financial dropped their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Finally, Barclays reduced their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.24.

Chevron Stock Performance

Shares of CVX traded up $3.16 during mid-day trading on Friday, hitting $145.15. The stock had a trading volume of 2,424,825 shares, compared to its average volume of 7,798,727. Chevron has a fifty-two week low of $135.37 and a fifty-two week high of $171.70. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market cap of $265.47 billion, a PE ratio of 13.35, a PEG ratio of 2.68 and a beta of 1.09. The company’s fifty day simple moving average is $146.90 and its two-hundred day simple moving average is $154.34.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.08 EPS. On average, equities analysts expect that Chevron will post 11.02 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. American Capital Advisory LLC raised its holdings in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter valued at approximately $30,000. Anfield Capital Management LLC lifted its position in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC boosted its stake in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Finally, Cooksen Wealth LLC purchased a new position in Chevron during the 4th quarter worth approximately $40,000. Institutional investors own 72.42% of the company’s stock.

About Chevron

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.