Chevron (NYSE:CVX) Price Target Cut to $191.00 by Analysts at Mizuho

by · The Cerbat Gem

Chevron (NYSE:CVX – Get Free Report) had its price target reduced by Mizuho from $192.00 to $191.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. Mizuho’s target price would suggest a potential upside of 20.69% from the stock’s current price.

Several other equities research analysts have also weighed in on the stock. Scotiabank reaffirmed a “sector perform” rating and issued a $160.00 target price (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Bank of America upped their price objective on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Melius Research started coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Wells Fargo & Company reissued an “overweight” rating and issued a $178.00 target price on shares of Chevron in a report on Friday, August 1st. Finally, Morgan Stanley assumed coverage on Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price target for the company. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $165.05.

View Our Latest Analysis on CVX

Chevron Stock Performance

CVX traded up $1.14 during trading on Monday, reaching $158.25. 911,327 shares of the company’s stock were exchanged, compared to its average volume of 9,192,308. The company has a market capitalization of $273.46 billion, a P/E ratio of 20.36, a PEG ratio of 1.98 and a beta of 0.90. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $154.67 and a 200 day moving average price of $148.79. Chevron has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX – Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter in the previous year, the firm posted $2.55 earnings per share. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. As a group, analysts predict that Chevron will post 10.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its position in shares of Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares in the last quarter. 10Elms LLP bought a new stake in Chevron during the 4th quarter worth about $29,000. Elequin Capital LP acquired a new position in shares of Chevron during the 1st quarter worth about $31,000. Quaker Wealth Management LLC grew its holdings in shares of Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 439 shares in the last quarter. Finally, IFS Advisors LLC increased its position in shares of Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 116 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Company Profile

(Get Free Report)

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.

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