A number of other equities research analysts also recently weighed in on CVX. Vetr downgraded shares of Chevron Corp. from a buy rating to a hold rating and set a $106.39 price target on the stock. in a research note on Monday, June 20th. Jefferies Group restated a buy rating and issued a $116.00 price target (up from $114.00) on shares of Chevron Corp. in a research note on Wednesday, July 6th. Zacks Investment Research upgraded shares of Chevron Corp. from a hold rating to a buy rating and set a $118.00 price target on the stock in a research note on Tuesday, July 12th. Barclays PLC reiterated an equal weight rating and set a $125.00 target price on shares of Chevron Corp. in a research report on Thursday, July 28th. Finally, Piper Jaffray Cos. upgraded shares of Chevron Corp. from a neutral rating to an overweight rating and lifted their target price for the stock from $110.00 to $117.00 in a research report on Tuesday, August 9th. Thirteen research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Chevron Corp. currently has an average rating of Buy and a consensus price target of $105.89.
Shares of Chevron Corp. (NYSE:CVX) opened at 101.08 on Friday. Chevron Corp. has a 52 week low of $75.33 and a 52 week high of $107.58. The firm has a 50-day moving average of $101.00 and a 200 day moving average of $101.27. The company’s market cap is $190.69 billion.
Chevron Corp. (NYSE:CVX) last posted its quarterly earnings results on Friday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $1.10. Chevron Corp. had a negative net margin of 0.64% and a positive return on equity of 1.07%. The company earned $29.28 billion during the quarter, compared to analyst estimates of $25.78 billion. During the same quarter in the previous year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was down 27.4% on a year-over-year basis. Equities analysts anticipate that Chevron Corp. will post $1.31 earnings per share for the current fiscal year.
In related news, insider Jeanette L. Ourada sold 7,000 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $101.70, for a total value of $711,900.00. Following the sale, the insider now directly owns 7,535 shares in the company, valued at approximately $766,309.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Inge G. Thulin acquired 487 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was purchased at an average price of $102.87 per share, for a total transaction of $50,097.69. The disclosure for this purchase can be found here. 0.40% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in CVX. PGGM Investments boosted its stake in shares of Chevron Corp. by 2.6% in the first quarter. PGGM Investments now owns 25,453 shares of the company’s stock worth $2,428,000 after buying an additional 634 shares in the last quarter. Headinvest LLC boosted its stake in shares of Chevron Corp. by 3.3% in the first quarter. Headinvest LLC now owns 10,841 shares of the company’s stock worth $1,034,000 after buying an additional 350 shares in the last quarter. Lodestar Investment Counsel LLC IL boosted its stake in shares of Chevron Corp. by 20.5% in the first quarter. Lodestar Investment Counsel LLC IL now owns 39,957 shares of the company’s stock worth $3,812,000 after buying an additional 6,803 shares in the last quarter. Lincluden Management Ltd. boosted its stake in shares of Chevron Corp. by 149.0% in the first quarter. Lincluden Management Ltd. now owns 41,955 shares of the company’s stock worth $4,002,000 after buying an additional 25,105 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC boosted its stake in shares of Chevron Corp. by 2.6% in the first quarter. Murphy Pohlad Asset Management LLC now owns 8,361 shares of the company’s stock worth $797,000 after buying an additional 215 shares in the last quarter. Institutional investors and hedge funds own 62.24% of the company’s stock.
Chevron Corp. Company Profile
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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