Chevron (NYSE:CVX) had its target price decreased by equities research analysts at Morgan Stanley from $146.00 to $144.00 in a research report issued on Friday, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s target price indicates a potential upside of 14.30% from the company’s current price.
Several other equities analysts also recently weighed in on the company. Cowen reaffirmed a “market perform” rating and issued a $99.00 price objective (up from $97.00) on shares of United Continental in a research note on Wednesday, April 17th. Citigroup set a $13.00 price objective on e.l.f. Beauty and gave the company a “hold” rating in a research note on Monday, May 13th. Bank of America set a $144.00 price objective on Walt Disney and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $135.72.
Shares of CVX stock opened at $125.98 on Friday. The stock has a market cap of $239.96 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 3.73 and a beta of 0.99. The stock’s 50 day simple moving average is $121.48. Chevron has a 12-month low of $100.22 and a 12-month high of $128.55. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.13. Chevron had a return on equity of 9.07% and a net margin of 8.45%. The firm had revenue of $35.20 billion during the quarter, compared to the consensus estimate of $38.42 billion. During the same period last year, the business posted $1.90 EPS. Chevron’s quarterly revenue was down 6.8% on a year-over-year basis. Analysts expect that Chevron will post 7.45 earnings per share for the current year.
In other Chevron news, Chairman Michael K. Wirth sold 33,750 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the completion of the transaction, the chairman now owns 33,750 shares of the company’s stock, valued at $4,239,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Enrique Hernandez, Jr. sold 2,100 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $121.75, for a total value of $255,675.00. Following the transaction, the director now directly owns 15,689 shares of the company’s stock, valued at approximately $1,910,135.75. The disclosure for this sale can be found here. Insiders have sold 40,050 shares of company stock valued at $5,007,621 in the last three months. 0.31% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Evolution Wealth Advisors LLC acquired a new stake in shares of Chevron during the second quarter worth $34,000. CKW Financial Group boosted its holdings in shares of Chevron by 123.5% during the fourth quarter. CKW Financial Group now owns 362 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 200 shares during the last quarter. Cordasco Financial Network boosted its holdings in shares of Chevron by 55.3% during the second quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 135 shares during the last quarter. Highwater Wealth Management LLC acquired a new stake in shares of Chevron during the fourth quarter worth $51,000. Finally, Ironwood Financial llc boosted its holdings in shares of Chevron by 94.2% during the fourth quarter. Ironwood Financial llc now owns 538 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 261 shares during the last quarter. 65.39% of the stock is owned by institutional investors.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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