Wells Fargo & Company Forecasts Strong Price Appreciation for Chevron (NYSE:CVX) Stock

Chevron (NYSE:CVX) had its price target hoisted by stock analysts at Wells Fargo & Company from $204.00 to $222.00 in a research note issued on Thursday, Marketbeat reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 17.73% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Morgan Stanley increased their target price on shares of Chevron from $174.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, March 27th. Argus set a $203.00 target price on shares of Chevron in a research note on Tuesday, February 3rd. Zacks Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. Scotiabank raised shares of Chevron to a “hold” rating in a research note on Friday, March 27th. Finally, Melius Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $190.04.

Chevron Price Performance

Chevron stock opened at $188.57 on Thursday. Chevron has a 12-month low of $132.04 and a 12-month high of $214.71. The stock has a market cap of $375.68 billion, a P/E ratio of 28.31, a PEG ratio of 1.41 and a beta of 0.60. The company has a 50-day moving average price of $191.51 and a 200 day moving average price of $167.98. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.08. The company had revenue of $45.79 billion during the quarter, compared to analyst estimates of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. Chevron’s revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.06 earnings per share. Sell-side analysts anticipate that Chevron will post 10.79 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider R. Hewitt Pate sold 58,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $188.65, for a total value of $10,941,700.00. Following the completion of the transaction, the insider owned 8,558 shares of the company’s stock, valued at approximately $1,614,466.70. This trade represents a 87.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the transaction, the insider directly owned 11,337 shares of the company’s stock, valued at approximately $2,130,449.04. The trade was a 92.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 782,607 shares of company stock valued at $146,510,571. 0.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CVX. Core Wealth Advisors LLC purchased a new position in shares of Chevron in the fourth quarter valued at approximately $26,000. Phillip James Consulting Co. purchased a new position in Chevron in the fourth quarter worth approximately $26,000. Basso Capital Management L.P. purchased a new position in Chevron in the fourth quarter worth approximately $27,000. Karpus Management Inc. purchased a new position in Chevron in the fourth quarter worth approximately $27,000. Finally, Quattro Advisors LLC purchased a new position in Chevron in the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Confirmed oil discovery at the Bandit prospect in the Gulf of America bolsters Chevron’s deepwater growth optionality and potential future production/tie‑back opportunities. Chevron Confirms Major Oil Discovery in the Gulf of America
• Positive Sentiment: Short interest fell materially in March (down ~14.5% to ~21.0M shares; days‑to‑cover ~1.3), reducing one potential source of near‑term downside pressure.
• Positive Sentiment: Chevron approved the ~$690M Aseng gas project, strengthening its LNG growth profile and future cash‑flow diversification. Chevron Approves $690M Aseng Gas Project to Boost LNG Supply
• Neutral Sentiment: Street estimates are split: some reports forecast a Q1 upstream boost (+$1.6B–$2.2B) from higher oil/gas prices, supporting earnings upside if prices hold. Chevron forecasts up to $2.2 bln boost to upstream earnings from higher prices in Q1
• Neutral Sentiment: Analysts warn Q1 will be “noisy” with offsetting forces (price tailwinds vs hedging/volatility); the report due May 1 is a likely catalyst. Chevron Q1 Earnings Will Be ‘Noisy’ As Headwinds Reverse To Tailwinds: Analyst
• Negative Sentiment: Chevron warned that Middle East volatility and related effects (including hedging) could hit Q1 earnings and cash flow materially — management cited an adverse impact in the multi‑billion‑dollar range, prompting UBS to cut near‑term forecasts. Chevron flags multi-billion-dollar hit from Middle East volatility
• Negative Sentiment: Public commentary highlights hedging risks and potential earnings drag from geopolitical disruptions, adding downside risk to near‑term prints. Chevron sees Iran war oil boost, warns hedging to weigh
• Negative Sentiment: Wall Street previews suggest EPS could be down double digits in Q1 absent favorable price offsets, increasing the chance of volatile reaction at the report. Chevron’s Quarterly Earnings Preview: What You Need to Know

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.