TD Cowen Raises Chevron (NYSE:CVX) Price Target to $160.00

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

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a report on Monday, January 8th. Royal Bank of Canada lifted their target price on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Truist Financial dropped their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Barclays began coverage on shares of Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective on the stock. Finally, Wells Fargo & Company increased their target price on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Six equities research 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 presently has an average rating of “Moderate Buy” and a consensus target price of $185.25.

Chevron Price Performance

CVX opened at $165.89 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $308.10 billion, a P/E ratio of 15.26, a PEG ratio of 2.44 and a beta of 1.12. The stock has a 50-day moving average price of $156.58 and a 200-day moving average price of $151.66. Chevron has a 12-month low of $139.62 and a 12-month high of $171.70.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CVX. Picton Mahoney Asset Management purchased a new position in shares of Chevron during the third quarter valued at approximately $26,000. Bare Financial Services Inc bought a new position in shares of Chevron during the 4th quarter valued at $27,000. Valley Forge Investment Consultants Inc. ADV boosted its stake in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after buying an additional 80 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Chevron in the 4th quarter worth $30,000. Finally, Valued Wealth Advisors LLC bought a new stake in shares of Chevron in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

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.