Chevron (CVX) PT Lowered to $129.00 at Credit Suisse Group

Chevron (NYSE:CVX) had its price objective lowered by analysts at Credit Suisse Group from $130.00 to $129.00 in a note issued to investors on Monday, February 5th. The firm currently has a “neutral” rating on the oil and gas company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 14.31% from the stock’s previous close.

A number of other research analysts have also recently weighed in on CVX. Barclays lifted their price target on shares of Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, October 10th. Wolfe Research upgraded shares of Chevron from a “market perform” rating to an “outperform” rating in a research note on Monday, October 16th. Vetr lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $124.92 price target for the company. in a research note on Monday, October 16th. Macquarie upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $135.00 price target for the company in a research note on Tuesday, October 17th. Finally, BMO Capital Markets lowered shares of Chevron from an “outperform” rating to a “market perform” rating and set a $120.00 price target for the company. in a research note on Wednesday, October 18th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Chevron currently has a consensus rating of “Buy” and an average price target of $130.30.

Chevron (CVX) traded down $1.13 during trading hours on Monday, reaching $112.85. 2,015,395 shares of the company’s stock traded hands, compared to its average volume of 7,547,077. 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 has a 52-week low of $102.55 and a 52-week high of $133.88. The stock has a market cap of $214,150.00, a P/E ratio of 23.34, a P/E/G ratio of 2.23 and a beta of 1.15.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.54). The firm had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. Chevron had a return on equity of 5.23% and a net margin of 6.49%. Chevron’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 earnings per share. sell-side analysts predict that Chevron will post 6.36 EPS for the current year.

In related news, CFO Patricia E. Yarrington sold 13,143 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $115.01, for a total value of $1,511,576.43. Following the completion of the sale, the chief financial officer now owns 17,981 shares of the company’s stock, valued at $2,067,994.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Patricia E. Yarrington sold 116,857 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $115.29, for a total transaction of $13,472,443.53. Following the completion of the sale, the chief financial officer now directly owns 39,506 shares of the company’s stock, valued at approximately $4,554,646.74. The disclosure for this sale can be found here. Insiders sold 264,021 shares of company stock valued at $30,619,037 in the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Harbour Capital Advisors LLC grew its holdings in shares of Chevron by 10,213.3% during the second quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock worth $54,721,000 after purchasing an additional 5,653,686 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Chevron by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after purchasing an additional 3,920,240 shares during the last quarter. Alleghany Corp DE acquired a new position in shares of Chevron during the 4th quarter worth approximately $430,653,000. Capital World Investors increased its position in shares of Chevron by 9.8% during the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after purchasing an additional 3,182,250 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Chevron by 669.9% during the 2nd quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock worth $337,050,000 after purchasing an additional 2,810,928 shares during the last quarter. Hedge funds and other institutional investors own 63.72% 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.

Analyst Recommendations for Chevron (NYSE:CVX)

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