Chevron (NYSE:CVX) Price Target Increased to $160.00 by Analysts at TD Cowen

Chevron (NYSE:CVX) had its price target increased by TD Cowen from $155.00 to $160.00 in a research report issued to clients and investors on Monday, Briefing.com reports. The firm currently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s price target indicates a potential downside of 3.55% from the company’s previous close.

Several other equities research analysts have also commented on the company. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Mizuho upped their target price on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. UBS Group lifted their price target on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Piper Sandler boosted their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, Truist Financial dropped their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $185.25.

Chevron Trading Up 0.4 %

Shares of CVX stock opened at $165.89 on Monday. The business’s fifty day moving average price is $156.58 and its 200 day moving average price is $151.66. The firm has a market capitalization of $308.10 billion, a PE ratio of 15.26, a P/E/G ratio of 2.44 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. Chevron has a 1-year low of $139.62 and a 1-year high of $171.70.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.55 EPS. As a group, sell-side analysts forecast that Chevron will post 13.58 EPS for the current fiscal year.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chevron

A number of institutional investors have recently added to or reduced their stakes in the company. Baxter Bros Inc. lifted its stake in shares of Chevron by 5.9% in the 1st quarter. Baxter Bros Inc. now owns 66,435 shares of the oil and gas company’s stock valued at $10,479,000 after purchasing an additional 3,712 shares in the last quarter. James Hambro & Partners lifted its position in Chevron by 1.6% during the first quarter. James Hambro & Partners now owns 4,896 shares of the oil and gas company’s stock valued at $772,000 after buying an additional 79 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co LLC grew its stake in Chevron by 0.7% during the first quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 17,413 shares of the oil and gas company’s stock worth $2,747,000 after buying an additional 125 shares during the period. Pinnacle Associates Ltd. increased its position in shares of Chevron by 0.7% in the first quarter. Pinnacle Associates Ltd. now owns 172,093 shares of the oil and gas company’s stock worth $27,146,000 after acquiring an additional 1,136 shares in the last quarter. Finally, Trueblood Wealth Management LLC raised its stake in shares of Chevron by 1.2% in the 1st quarter. Trueblood Wealth Management LLC now owns 17,488 shares of the oil and gas company’s stock valued at $2,759,000 after acquiring an additional 211 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.