Chevron (NYSE:CVX) Price Target Lowered to $185.00 at UBS Group

Chevron (NYSE:CVX) had its price objective lowered by stock analysts at UBS Group from $194.00 to $185.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. UBS Group’s target price indicates a potential upside of 32.61% from the company’s previous close.

Several other research firms also recently issued reports on CVX. Barclays decreased their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Truist Financial dropped their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Raymond James decreased their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Finally, Wells Fargo & Company cut their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $173.53.

Chevron Stock Down 2.6 %

Shares of NYSE CVX traded down $3.77 during trading hours on Monday, hitting $139.51. The stock had a trading volume of 12,027,158 shares, compared to its average volume of 7,715,615. The company has a market capitalization of $245.61 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.46 and a beta of 0.93. The firm’s 50-day moving average price is $157.38 and its two-hundred day moving average price is $154.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron has a 52 week low of $135.37 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the business posted $3.45 EPS. Analysts anticipate that Chevron will post 10.79 EPS for the current fiscal year.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CVX. United Bank lifted its position in shares of Chevron by 8.4% during the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after purchasing an additional 629 shares in the last quarter. Arete Wealth Advisors LLC acquired a new position in Chevron during the 3rd quarter worth $2,370,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at $29,000. Nomura Asset Management Co. Ltd. raised its position in shares of Chevron by 7.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 982,888 shares of the oil and gas company’s stock worth $144,750,000 after acquiring an additional 66,286 shares during the last quarter. Finally, SGL Investment Advisors Inc. bought a new position in Chevron in the third quarter valued at about $5,376,000. 72.42% of the stock is owned by institutional investors and hedge funds.

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.