Chevron (NYSE:CVX) Price Target Raised to $206.00

Chevron (NYSE:CVX) had its price target lifted by analysts at Bank of America from $188.00 to $206.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Bank of America‘s target price suggests a potential upside of 10.48% from the stock’s current price.

A number of other brokerages have also commented on CVX. UBS Group restated a “buy” rating and issued a $212.00 target price on shares of Chevron in a research note on Monday, February 2nd. Barclays increased their price objective on shares of Chevron from $158.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 21st. TD Cowen raised their price objective on shares of Chevron from $160.00 to $168.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $180.00 price target for the company. in a research report on Monday, February 2nd. Finally, Freedom Capital downgraded Chevron from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. Thirteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $177.55.

Chevron Price Performance

NYSE:CVX opened at $186.47 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. The stock has a market cap of $372.07 billion, a P/E ratio of 28.00, a PEG ratio of 12.36 and a beta of 0.67. The company has a fifty day moving average price of $169.52 and a 200 day moving average price of $159.64. Chevron has a one year low of $132.04 and a one year high of $187.90.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.08. The business had revenue of $45.79 billion during the quarter, compared to analysts’ expectations of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The firm’s revenue was down 10.2% on a year-over-year basis. During the same quarter last year, the company earned $2.06 earnings per share. Analysts anticipate that Chevron will post 10.79 earnings per share for the current year.

Insider Activity at Chevron

In other Chevron news, insider R. Hewitt Pate sold 41,134 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $176.40, for a total value of $7,256,037.60. Following the transaction, the insider directly owned 4,169 shares in the company, valued at approximately $735,411.60. This trade represents a 90.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael K. Wirth sold 320,700 shares of Chevron stock in a transaction on Monday, January 5th. The shares were sold at an average price of $162.99, for a total value of $52,270,893.00. Following the completion of the sale, the chief executive officer directly owned 14,450 shares of the company’s stock, valued at $2,355,205.50. This trade represents a 95.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 534,898 shares of company stock valued at $89,543,711 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chevron

Several hedge funds have recently added to or reduced their stakes in the company. Core Wealth Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $26,000. Phillip James Consulting Co. acquired a new position in Chevron in the fourth quarter valued at about $26,000. Basso Capital Management L.P. bought a new position in Chevron during the fourth quarter worth about $27,000. Karpus Management Inc. acquired a new position in shares of Chevron during the 4th quarter worth about $27,000. Finally, Quattro Advisors LLC bought a new stake in shares of Chevron in the 4th quarter valued at about $27,000. Institutional investors own 72.42% of the company’s stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Oil prices surged (as much as ~13%) after strikes and closures near the Strait of Hormuz, sending CVX shares up on expectations of higher revenues and refining margins. CVX Shares Surge in Early Trading as Crude Oil Soars on Middle East Turmoil
• Positive Sentiment: Reports that Iran-related fighting effectively shut the Hormuz Strait intensified the oil rally and lifted major integrated names including Chevron as traders price in tighter supply. Crude Oil Prices Skyrocket 13% as Iran Conflict Closes Hormuz Strait — XOM and CVX Gain Ground
• Positive Sentiment: Broader coverage notes energy names like Chevron could run further if geopolitical risk keeps oil elevated, supporting momentum and investor interest in the sector. Exxon and Chevron Soar. Why Energy Stocks Could Go Even Higher.
• Positive Sentiment: Chevron’s talks to operate Iraq’s West Qurna 2 and expansion activity in Venezuela and Greece highlight potential long-term upstream growth that could materially lift reserve and production profiles if concluded. Chevron’s Iraq Talks And New Fields Test Valuation And Risk Profile
• Neutral Sentiment: Major brokerages still show an average “Hold” rating on CVX, indicating analysts see limited near-term upside absent sustained higher oil or deal execution. Chevron Corporation (NYSE:CVX) Receives Average Rating of “Hold” from Brokerages
• Neutral Sentiment: Several retail/investment outlets recommend energy buys given commodity tailwinds, which can attract inflows but reflect opinion rather than firm catalysts. 2 No-Brainer Energy Stocks to Buy Right Now
• Negative Sentiment: Berkshire Hathaway’s new CEO omitted Chevron from his “core” holdings in a shareholder letter, a symbolic shift that could temper investor sentiment about CVX’s status among large, long-term holders. Berkshire Hathaway’s New CEO Omits Bank of America And Chevron In Letter To Shareholders After Warren Buffett’s Exit
• Negative Sentiment: Insider selling (reported ~ $89M) was flagged even as commentators urged holding CVX; insider exits can raise governance or timing concerns for some investors. Chevron Stock Analysis: Why Jim Cramer Advises Holding CVX Despite Insider Sales

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.