HSBC Lowers Chevron (CVX) to Hold

HSBC lowered shares of Chevron (NYSE:CVX) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, MarketBeat reports.

CVX has been the subject of a number of other research reports. Barclays upgraded Chevron to an overweight rating in a research note on Wednesday, October 11th. Vetr lowered Chevron from a buy rating to a hold rating and set a $134.35 target price for the company. in a research note on Thursday, January 11th. Zacks Investment Research upgraded Chevron from a hold rating to a buy rating and set a $129.00 target price for the company in a research note on Friday, November 17th. TheStreet upgraded Chevron from a c+ rating to a b rating in a research note on Monday, October 23rd. Finally, Royal Bank of Canada set a $110.00 price objective on Chevron and gave the company a sell rating in a research note on Wednesday, December 20th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Chevron presently has a consensus rating of Hold and a consensus price target of $126.06.

Chevron (NYSE CVX) traded down $0.29 during mid-day trading on Thursday, hitting $131.30. The stock had a trading volume of 6,048,177 shares, compared to its average volume of 5,420,000. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. Chevron has a fifty-two week low of $102.55 and a fifty-two week high of $133.88. The firm has a market capitalization of $249,390.00, a price-to-earnings ratio of 38.28, a P/E/G ratio of 2.84 and a beta of 1.21.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The business had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. During the same quarter last year, the firm earned $0.68 earnings per share. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. research analysts expect that Chevron will post 4.35 EPS for the current fiscal year.

In other news, CFO Patricia E. Yarrington sold 13,143 shares of Chevron stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $115.01, for a total value of $1,511,576.43. Following the completion of the transaction, the chief financial officer now owns 17,981 shares in the company, valued at approximately $2,067,994.81. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of Chevron stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total value of $145,022.00. Following the completion of the transaction, the insider now owns 1,229 shares of the company’s stock, valued at approximately $145,022. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,500 shares of company stock valued at $33,480,822. Insiders own 0.38% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Pathstone Family Office LLC lifted its holdings in shares of Chevron by 2.5% in the 2nd quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock worth $2,170,000 after purchasing an additional 20 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Chevron in the 2nd quarter worth approximately $106,000. Winfield Associates Inc. lifted its holdings in shares of Chevron by 5.1% in the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 63 shares during the last quarter. Accurate Investment Solutions Inc. lifted its holdings in shares of Chevron by 59.1% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 502 shares during the last quarter. Finally, Daiwa SB Investments Ltd. lifted its holdings in shares of Chevron by 438.5% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 1,140 shares during the last quarter. Institutional investors own 63.84% of the company’s stock.

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Chevron 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.

Analyst Recommendations for Chevron (NYSE:CVX)

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