Cowen restated their outperform rating on shares of Chevron (NYSE:CVX) in a research note released on Thursday, December 21st, Marketbeat Ratings reports. They currently have a $160.00 price target on the oil and gas company’s stock, up from their previous price target of $122.00.
Several other equities research analysts have also recently commented on CVX. Jefferies Group reiterated a buy rating and set a $135.00 price target on shares of Chevron in a research report on Wednesday, August 23rd. Credit Suisse Group set a $123.00 price target on shares of Chevron and gave the stock a buy rating in a research report on Friday, August 25th. Piper Jaffray Companies set a $119.00 price target on shares of Chevron and gave the stock a buy rating in a research report on Friday, August 25th. UBS Group set a $105.00 price objective on shares of Chevron and gave the company a neutral rating in a report on Wednesday, September 6th. Finally, Scotiabank restated a buy rating on shares of Chevron in a report on Friday, September 15th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the company. Chevron presently has an average rating of Hold and an average price target of $126.06.
Shares of Chevron (NYSE CVX) opened at $133.60 on Thursday. Chevron has a 1 year low of $102.55 and a 1 year high of $133.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. The company has a market cap of $253,756.38, a P/E ratio of 38.95, a PEG ratio of 2.98 and a beta of 1.21.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The company had revenue of $36.21 billion during the quarter, compared to analysts’ expectations of $34.06 billion. During the same quarter in the previous year, the company earned $0.68 EPS. Chevron’s revenue was up 20.1% on a year-over-year basis. research analysts expect that Chevron will post 4.35 earnings per share for the current year.
In other news, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total value of $2,766,750.00. Following the completion of the transaction, the insider now owns 42,182 shares in the company, valued at $5,019,658. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total transaction of $145,022.00. Following the completion of the transaction, the insider now owns 1,229 shares of the company’s stock, valued at approximately $145,022. The disclosure for this sale can be found here. Insiders sold 314,000 shares of company stock valued at $36,540,822 in the last quarter. Corporate insiders own 0.38% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. HPM Partners LLC lifted its position in shares of Chevron by 197.0% in the first quarter. HPM Partners LLC now owns 38,735 shares of the oil and gas company’s stock worth $4,159,000 after purchasing an additional 25,691 shares in the last quarter. Lincoln National Corp lifted its position in shares of Chevron by 33.3% in the first quarter. Lincoln National Corp now owns 82,502 shares of the oil and gas company’s stock worth $8,859,000 after purchasing an additional 20,615 shares in the last quarter. Korea Investment CORP lifted its position in shares of Chevron by 5.1% in the second quarter. Korea Investment CORP now owns 1,476,610 shares of the oil and gas company’s stock worth $154,055,000 after purchasing an additional 72,173 shares in the last quarter. Adams Natural Resources Fund Inc. lifted its position in shares of Chevron by 8.8% in the second quarter. Adams Natural Resources Fund Inc. now owns 596,800 shares of the oil and gas company’s stock worth $62,264,000 after purchasing an additional 48,100 shares in the last quarter. Finally, Strategic Financial Group LLC lifted its position in shares of Chevron by 6.0% in the first quarter. Strategic Financial Group LLC now owns 8,979 shares of the oil and gas company’s stock worth $964,000 after purchasing an additional 510 shares in the last quarter. Institutional investors own 63.80% of the company’s stock.
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.
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