Chevron (CVX) Downgraded by Vetr to “Hold”

Chevron (NYSE:CVX) was downgraded by Vetr from a “buy” rating to a “hold” rating in a research note issued on Thursday. They currently have a $134.35 price target on the oil and gas company’s stock. Vetr‘s target price would suggest a potential upside of 1.34% from the company’s current price.

CVX has been the topic of several other reports. Bank of America downgraded shares of Chevron from a “buy” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a research report on Thursday, January 4th. They noted that the move was a valuation call. Wells Fargo & Co restated a “market perform” rating and set a $108.00 price target (up from $100.00) on shares of Chevron in a research report on Tuesday, October 3rd. Jefferies Group reiterated a “buy” rating and issued a $137.00 target price on shares of Chevron in a report on Thursday, October 19th. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a report on Tuesday, October 31st. Finally, BMO Capital Markets raised shares of Chevron from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $120.00 to $140.00 in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. Chevron presently has an average rating of “Hold” and an average price target of $126.06.

Chevron (NYSE CVX) traded up $3.91 during trading on Thursday, reaching $132.57. 11,639,854 shares of the company traded hands, compared to its average volume of 5,190,000. Chevron has a 12-month low of $102.55 and a 12-month high of $133.32. The stock has a market cap of $251,800.00, a P/E ratio of 38.65, a price-to-earnings-growth ratio of 2.97 and a beta of 1.21. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.04. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The company had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. During the same period last year, the business earned $0.68 EPS. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. sell-side analysts predict that Chevron will post 4.35 earnings per share for the current year.

In other Chevron news, insider Pierre R. Breber sold 23,250 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total value of $2,766,750.00. Following the completion of the sale, the insider now directly owns 42,182 shares of the company’s stock, valued at $5,019,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Patricia E. Yarrington sold 13,143 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the completion of the sale, the chief financial officer now directly owns 17,981 shares of the company’s stock, valued at $2,067,994.81. The disclosure for this sale can be found here. Insiders sold 314,000 shares of company stock valued at $36,540,822 over the last three months. Insiders own 0.38% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Valley National Advisers Inc. lifted its stake in shares of Chevron by 0.4% in the second quarter. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company’s stock worth $273,000 after buying an additional 11 shares during the last quarter. Deschutes Portfolio Strategy LLC lifted its stake in shares of Chevron by 0.5% in the second quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock worth $301,000 after buying an additional 13 shares during the last quarter. Regis Management CO LLC lifted its stake in shares of Chevron by 0.4% in the second quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock worth $341,000 after buying an additional 14 shares during the last quarter. Keel Point LLC lifted its stake in shares of Chevron by 0.5% in the second quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock worth $288,000 after buying an additional 14 shares during the last quarter. Finally, FCG Advisors LLC lifted its stake in shares of Chevron by 0.4% in the second quarter. FCG Advisors LLC now owns 3,907 shares of the oil and gas company’s stock worth $408,000 after buying an additional 15 shares during the last quarter. Institutional investors and hedge funds own 63.80% of the company’s stock.

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About Chevron

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Analyst Recommendations for Chevron (NYSE:CVX)

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