Chevron (CVX) Price Target Lowered to $125.00 at Wells Fargo & Co

Chevron (NYSE:CVX) had its target price cut by research analysts at Wells Fargo & Co from $125.00 to $125.00 in a research report issued on Monday, February 5th, Marketbeat.com reports. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. Wells Fargo & Co’s price target suggests a potential upside of 11.22% from the company’s current price.

Several other brokerages also recently weighed in on CVX. Jefferies Group reaffirmed a “buy” rating and issued a $137.00 target price (up previously from $113.54) on shares of Chevron in a report on Monday, October 30th. Goldman Sachs Group downgraded shares of Chevron from a “conviction-buy” rating to a “buy” rating in a report on Monday, February 5th. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a report on Friday, November 10th. Citigroup boosted their price objective on shares of Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Finally, HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $130.30.

Shares of Chevron (NYSE CVX) traded down $0.12 during trading hours on Monday, hitting $112.39. 3,894,758 shares of the stock traded hands, compared to its average volume of 7,613,133. The stock has a market capitalization of $212,140.00, a P/E ratio of 29.50, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. Chevron has a 1-year low of $102.55 and a 1-year high of $133.88.

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

In other Chevron news, CFO Patricia E. Yarrington sold 116,857 shares of Chevron stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $115.29, for a total transaction of $13,472,443.53. Following the completion of the transaction, the chief financial officer now owns 39,506 shares in the company, valued at $4,554,646.74. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Pierre R. Breber sold 23,250 shares of Chevron stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the transaction, the insider now owns 42,182 shares of the company’s stock, valued at approximately $5,019,658. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 250,878 shares of company stock valued at $29,107,461. 0.38% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Chevron by 2.9% in the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after buying an additional 3,920,240 shares during the last quarter. BlackRock Inc. raised its position in shares of Chevron by 1.9% in the fourth quarter. BlackRock Inc. now owns 128,530,034 shares of the oil and gas company’s stock valued at $16,090,676,000 after buying an additional 2,356,734 shares during the last quarter. Capital World Investors raised its position in shares of Chevron by 9.8% in the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after buying an additional 3,182,250 shares during the last quarter. Northern Trust Corp raised its position in shares of Chevron by 0.6% in the second quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock valued at $2,728,558,000 after buying an additional 157,021 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Chevron by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 19,836,151 shares of the oil and gas company’s stock valued at $2,478,038,000 after buying an additional 655,892 shares during the last quarter. 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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