Chevron (NYSE:CVX) Upgraded to “Strong-Buy” at Hsbc Global Res

Chevron (NYSE:CVX) was upgraded by investment analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other analysts also recently weighed in on CVX. Bank of America upped their price target on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Barclays lowered their price objective on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Scotiabank raised their target price on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Raymond James Financial reiterated an “outperform” rating and issued a $160.00 price target (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. Finally, HSBC set a $169.00 price objective on Chevron and gave the stock a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Chevron currently has an average rating of “Hold” and an average price target of $166.16.

Chevron Stock Performance

NYSE:CVX opened at $152.53 on Monday. The company has a market cap of $307.12 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 4.40 and a beta of 0.83. Chevron has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The stock has a fifty day moving average price of $153.90 and a 200-day moving average price of $151.37.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The business had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.48 earnings per share. As a group, equities analysts anticipate that Chevron will post 10.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. This represents a 19.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is owned by corporate insiders.

Institutional Trading of Chevron

Hedge funds have recently made changes to their positions in the company. Elequin Capital LP bought a new stake in Chevron during the 1st quarter worth approximately $31,000. Quaker Wealth Management LLC lifted its holdings in shares of Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares during the period. Decker Retirement Planning Inc. bought a new stake in shares of Chevron in the third quarter worth $34,000. Vermillion & White Wealth Management Group LLC grew its stake in shares of Chevron by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 118 shares during the last quarter. Finally, IMG Wealth Management Inc. increased its holdings in Chevron by 52.3% in the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 91 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Company Profile

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.