Chevron Corporation (NYSE:CVX) had its price target upped by equities researchers at Barclays PLC from $120.00 to $130.00 in a research note issued on Tuesday. The firm presently has an “overweight” rating on the oil and gas company’s stock. Barclays PLC’s price target would suggest a potential upside of 9.10% from the company’s current price.
Several other equities analysts have also recently weighed in on CVX. Jefferies Group LLC reaffirmed a “buy” rating and set a $130.00 target price on shares of Chevron Corporation in a research note on Tuesday, October 3rd. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Chevron Corporation in a research note on Thursday, August 3rd. Wells Fargo & Company reaffirmed a “market perform” rating and set a $108.00 target price (up from $100.00) on shares of Chevron Corporation in a research note on Tuesday, October 3rd. Zacks Investment Research raised shares of Chevron Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, BNP Paribas raised shares of Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 target price for the company in a research note on Monday, August 7th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $117.07.
Chevron Corporation (NYSE CVX) traded up 0.02% on Tuesday, hitting $119.16. 4,640,071 shares of the stock were exchanged. Chevron Corporation has a 12 month low of $99.87 and a 12 month high of $120.00. The company has a 50-day moving average of $114.64 and a 200 day moving average of $108.31. The firm has a market cap of $225.81 billion, a P/E ratio of 38.64 and a beta of 1.24.
Chevron Corporation (NYSE:CVX) last posted its earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The company had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. Chevron Corporation’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period last year, the company posted ($0.78) earnings per share. Equities research analysts expect that Chevron Corporation will post $3.99 earnings per share for the current fiscal year.
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In related news, Director Linnet F. Deily sold 2,312 shares of Chevron Corporation stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total transaction of $248,262.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James William Johnson sold 31,000 shares of Chevron Corporation stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the sale, the insider now owns 11,000 shares of the company’s stock, valued at approximately $1,217,480. The disclosure for this sale can be found here. Insiders have sold a total of 72,312 shares of company stock valued at $8,008,343 in the last quarter. 0.38% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Shine Investment Advisory Services Inc. bought a new stake in Chevron Corporation during the 2nd quarter valued at about $106,000. Thompson Davis & CO. Inc. lifted its holdings in Chevron Corporation by 20.0% during the 1st quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 191 shares in the last quarter. Winfield Associates Inc. lifted its holdings in Chevron Corporation by 5.1% during the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after buying an additional 63 shares in the last quarter. Daiwa SB Investments Ltd. lifted its holdings in Chevron Corporation by 438.5% during the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after buying an additional 1,140 shares in the last quarter. Finally, Acrospire Investment Management LLC lifted its holdings in Chevron Corporation by 133.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after buying an additional 800 shares in the last quarter. Institutional investors own 62.73% of the company’s stock.
About Chevron Corporation
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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