Chevron (NYSE:CVX – Get Free Report) was upgraded by stock analysts at HSBC from a “hold” rating to a “buy” rating in a research report issued on Friday, Marketbeat Ratings reports. The firm currently has a $215.00 price target on the oil and gas company’s stock. HSBC’s target price indicates a potential upside of 6.58% from the company’s previous close.
A number of other brokerages have also recently issued reports on CVX. BMO Capital Markets restated an “outperform” rating and set a $190.00 price objective on shares of Chevron in a report on Monday, February 2nd. Wells Fargo & Company increased their target price on shares of Chevron from $196.00 to $204.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Zacks Research raised shares of Chevron from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 23rd. Melius Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a report on Tuesday, February 17th. Finally, Mizuho upped their price objective on shares of Chevron from $206.00 to $217.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Fourteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $184.77.
Chevron Trading Up 0.1%
Chevron (NYSE:CVX – Get Free Report) last issued its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. The firm had revenue of $45.79 billion for the quarter, compared to analysts’ expectations of $48.18 billion. Chevron had a return on equity of 7.89% and a net margin of 6.51%.The company’s revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.06 earnings per share. Research analysts forecast that Chevron will post 10.79 EPS for the current year.
Insider Transactions at Chevron
In other news, insider Alana K. Knowles sold 2,408 shares of Chevron stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $183.28, for a total value of $441,338.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew Benjamin Walz sold 11,600 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $188.58, for a total transaction of $2,187,528.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,099,397 shares of company stock worth $196,196,468. Corporate insiders own 0.21% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Chevron by 17.9% during the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after acquiring an additional 27,961,463 shares in the last quarter. Norges Bank bought a new position in Chevron in the fourth quarter valued at approximately $3,727,586,000. State Street Corp increased its position in shares of Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after purchasing an additional 12,789,399 shares during the last quarter. Berkshire Hathaway Inc increased its position in shares of Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after purchasing an additional 8,091,570 shares during the last quarter. Finally, Primecap Management Co. CA bought a new stake in shares of Chevron during the 3rd quarter worth approximately $988,083,000. Institutional investors own 72.42% of the company’s stock.
Key Stories Impacting Chevron
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Chevron’s market capitalization topped $400 billion for the first time as the crude rally lifted energy peers and investor appetite for large integrated oil names. Chevron (CVX) Stock Breaks Into Elite $400B Club Amid Oil Price Rally
- Positive Sentiment: HSBC upgraded CVX from Hold to Buy and set a $215 target, signaling analyst conviction that the stock has further upside as oil stays elevated. HSBC upgrade to Buy
- Positive Sentiment: Major business press notes Chevron’s rise into the top-20 U.S. companies by market value, reinforcing momentum and institutional interest in the name. Chevron Jumps Into Top 20 Most Valuable U.S. Companies
- Positive Sentiment: Analyst/market commentaries and YTD performance write-ups highlight strong gains (CVX up materially this year) driven by geopolitical support for oil prices and Chevron’s growth projects—these narratives help attract momentum flows. Why the Market Dipped But Chevron (CVX) Gained Today
- Positive Sentiment: Mizuho and other broker notes (coverage upgrades / bullish price forecasts) and inclusion in “best energy stocks” pieces amplify buy-side interest and argue for continued upside if commodity strength persists. Mizuho Forecasts Strong Price Appreciation for Chevron (NYSE:CVX) Stock
- Neutral Sentiment: Comparative analyst pieces (e.g., Zacks on Chevron vs. Suncor) note Chevron’s diversification and Guyana growth but weigh that against peer cost actions—useful context but not an immediate catalyst. Chevron vs. Suncor: Which Energy Stock Wins at 52-Week Highs?
- Neutral Sentiment: Chevron Technology Ventures led a small strategic investment in robotics firm KEWAZO—positioning for operational efficiencies but not a near-term earnings driver. Chevron Technology Ventures Invests in KEWAZO
About Chevron
Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.
Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.
Further Reading
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