Chevron (NYSE:CVX) was upgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report issued on Thursday, January 11th, Marketbeat reports. The brokerage presently has a $140.00 price target on the oil and gas company’s stock, up from their previous price target of $120.00. BMO Capital Markets’ price target indicates a potential upside of 5.77% from the stock’s current price.
A number of other analysts also recently issued reports on CVX. TheStreet raised Chevron from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Goldman Sachs Group reaffirmed a “buy” rating and issued a $123.00 price target (up from $118.00) on shares of Chevron in a report on Tuesday, September 19th. Cowen reissued a “buy” rating and set a $122.00 price objective on shares of Chevron in a research note on Tuesday, September 19th. Jefferies Group reissued a “buy” rating and set a $130.00 price objective on shares of Chevron in a research note on Tuesday, October 3rd. Finally, Bank of America reissued a “buy” rating and set a $125.00 price objective (up previously from $120.00) on shares of Chevron in a research note on Tuesday, October 3rd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $126.06.
Shares of Chevron (NYSE:CVX) opened at $132.36 on Thursday. The company has a market capitalization of $251,400.00, a P/E ratio of 38.59, a PEG ratio of 2.92 and a beta of 1.21. Chevron has a 52 week low of $102.55 and a 52 week high of $133.88. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.04. The company had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. Chevron’s revenue was up 20.1% on a year-over-year basis. During the same period last year, the business posted $0.68 earnings per share. equities research analysts predict that Chevron will post 4.35 EPS for the current year.
In related news, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $119.00, for a total value of $2,766,750.00. Following the transaction, the insider now directly owns 42,182 shares of the company’s stock, valued at approximately $5,019,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total transaction of $145,022.00. Following the sale, the insider now owns 1,229 shares of the company’s stock, valued at $145,022. The disclosure for this sale can be found here. Over the last three months, insiders sold 288,500 shares of company stock worth $33,480,822. Insiders own 0.38% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Shine Investment Advisory Services Inc. purchased a new stake in Chevron in the 2nd quarter worth $106,000. Winfield Associates Inc. increased its stake in Chevron by 5.1% in the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after buying an additional 63 shares in the last quarter. Daiwa SB Investments Ltd. increased its stake in Chevron by 438.5% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after buying an additional 1,140 shares in the last quarter. Acrospire Investment Management LLC increased its stake in Chevron by 133.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after buying an additional 800 shares in the last quarter. Finally, Accurate Investment Solutions Inc. increased its stake in Chevron by 59.1% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after buying an additional 502 shares in the last quarter. Institutional investors and hedge funds own 63.84% of the company’s stock.
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Chevron Company Profile
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.
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