Chevron (NYSE:CVX) Stock Price Expected to Rise, UBS Group Analyst Says

Chevron (NYSE:CVX) had its price target boosted by stock analysts at UBS Group from $177.00 to $186.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. UBS Group’s target price indicates a potential upside of 21.73% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Hsbc Global Res cut Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Morgan Stanley began coverage on Chevron in a research note on Monday. They set an “overweight” rating and a $174.00 target price for the company. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and dropped their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, TD Cowen increased their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $164.11.

Chevron Trading Up 1.2%

NYSE CVX opened at $152.80 on Monday. The stock has a market cap of $266.85 billion, a P/E ratio of 19.67, a PEG ratio of 2.30 and a beta of 0.87. The company’s fifty day simple moving average is $147.44 and its 200-day simple moving average is $148.68. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. Chevron has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.80%. The firm’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.55 EPS. Equities research analysts predict that Chevron will post 10.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Arrowroot Family Office LLC bought a new stake in Chevron in the second quarter valued at $627,000. Pointe Capital Management LLC grew its position in shares of Chevron by 3.7% during the second quarter. Pointe Capital Management LLC now owns 3,741 shares of the oil and gas company’s stock worth $536,000 after acquiring an additional 133 shares during the last quarter. NewSquare Capital LLC increased its holdings in shares of Chevron by 45.1% in the 2nd quarter. NewSquare Capital LLC now owns 756 shares of the oil and gas company’s stock worth $108,000 after acquiring an additional 235 shares during the period. McGinn Penninger Investment Management Inc. lifted its position in Chevron by 0.7% in the 2nd quarter. McGinn Penninger Investment Management Inc. now owns 28,928 shares of the oil and gas company’s stock valued at $4,142,000 after purchasing an additional 200 shares during the last quarter. Finally, Pacific Wealth Strategies Group Inc. boosted its stake in Chevron by 1.5% during the 2nd quarter. Pacific Wealth Strategies Group Inc. now owns 10,655 shares of the oil and gas company’s stock valued at $1,616,000 after purchasing an additional 158 shares during the period. 72.42% of the stock is currently owned by institutional investors.

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.