Chevron (NYSE:CVX)‘s stock had its “buy” rating reaffirmed by equities researchers at Piper Jaffray in a report issued on Monday. They presently have a $140.00 price objective on the oil and gas company’s stock. Piper Jaffray’s price target indicates a potential upside of 14.25% from the stock’s current price. Piper Jaffray also issued estimates for Chevron’s FY2018 earnings at $6.58 EPS, FY2019 earnings at $6.76 EPS and FY2020 earnings at $6.50 EPS.
Several other research firms have also weighed in on CVX. Vetr lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 target price on the stock. in a report on Thursday, January 11th. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Morgan Stanley upped their target price on shares of Chevron from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Zacks Investment Research lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 17th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $130.00 target price (up previously from $123.00) on shares of Chevron in a report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the stock. Chevron has a consensus rating of “Buy” and an average target price of $131.02.
Shares of CVX stock opened at $122.54 on Monday. Chevron has a 52-week low of $102.55 and a 52-week high of $133.88. The firm has a market capitalization of $233,643.05, a PE ratio of 33.12, a price-to-earnings-growth ratio of 2.38 and a beta of 1.16. The company has a quick ratio of 0.83, a current ratio of 1.03 and a debt-to-equity ratio of 0.22.
Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). Chevron had a net margin of 6.49% and a return on equity of 5.22%. The business had revenue of $37.62 billion during the quarter, compared to analyst estimates of $38.43 billion. During the same quarter in the prior year, the company posted $0.22 EPS. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. equities research analysts forecast that Chevron will post 6.43 earnings per share for the current year.
In other Chevron news, VP R. Hewitt Pate sold 25,500 shares of the stock in a transaction dated Tuesday, April 17th. The shares were sold at an average price of $121.97, for a total transaction of $3,110,235.00. Following the sale, the vice president now owns 25,500 shares of the company’s stock, valued at approximately $3,110,235. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. Earnest Partners LLC acquired a new position in Chevron during the 4th quarter valued at about $114,000. Virtue Capital Management LLC acquired a new position in Chevron during the 4th quarter valued at about $128,000. Acrospire Investment Management LLC lifted its position in Chevron by 133.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 800 shares during the period. Accurate Investment Solutions Inc. lifted its position in Chevron by 59.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after purchasing an additional 502 shares during the period. Finally, Fusion Family Wealth LLC lifted its position in Chevron by 192.6% during the 4th quarter. Fusion Family Wealth LLC now owns 1,273 shares of the oil and gas company’s stock valued at $159,000 after purchasing an additional 838 shares during the period. 64.98% of the stock is currently owned by hedge funds and other institutional investors.
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Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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