TD Cowen Boosts Chevron (NYSE:CVX) Price Target to $155.00

Chevron (NYSE:CVX) had its target price raised by investment analysts at TD Cowen from $150.00 to $155.00 in a note issued to investors on Monday, Marketbeat reports. The brokerage presently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s price target would suggest a potential upside of 1.44% from the stock’s previous close.

CVX has been the topic of several other research reports. Wells Fargo & Company restated an “overweight” rating and set a $178.00 target price on shares of Chevron in a research report on Friday. Redburn Atlantic restated a “sell” rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. Piper Sandler reiterated an “overweight” rating on shares of Chevron in a research report on Tuesday, July 15th. Finally, Raymond James Financial restated an “outperform” rating on shares of Chevron in a report on Friday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $164.11.

Chevron Trading Up 1.2%

Shares of Chevron stock opened at $152.80 on Monday. Chevron has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The business has a 50 day moving average price of $147.44 and a 200 day moving average price of $148.68. The company has a market capitalization of $266.85 billion, a P/E ratio of 19.67, a P/E/G ratio of 2.30 and a beta of 0.87.

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

Institutional Trading of Chevron

A number of institutional investors have recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd raised its holdings in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 122 shares during the period. Elequin Capital LP acquired a new stake in Chevron in the first quarter valued at approximately $31,000. 10Elms LLP purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $29,000. IFS Advisors LLC lifted its position in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares in the last quarter. Finally, Quaker Wealth Management LLC boosted its stake in shares of Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares during the period. 72.42% of the stock is owned by hedge funds and other 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.