Chevron (NYSE:CVX) has been assigned a $150.00 target price by stock analysts at Royal Bank of Canada in a report released on Thursday, September 20th. The firm currently has a “hold” rating on the oil and gas company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 27.37% from the stock’s current price.
A number of other brokerages have also weighed in on CVX. Bank of America lowered Chevron from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $150.00 to $135.00 in a research note on Thursday, September 6th. Raymond James upgraded Chevron from a “market perform” rating to an “outperform” rating in a research note on Monday, June 18th. HSBC upgraded Chevron from a “hold” rating to a “buy” rating in a research note on Tuesday, September 11th. Berenberg Bank initiated coverage on Chevron in a research note on Tuesday, September 11th. They set a “hold” rating and a $135.00 target price on the stock. Finally, Zacks Investment Research lowered Chevron from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Nine analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $136.83.
NYSE:CVX opened at $117.77 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 1.08. The company has a market capitalization of $234.31 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 2.14 and a beta of 1.07. Chevron has a 12-month low of $108.02 and a 12-month high of $133.88.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 27th. The oil and gas company reported $1.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.09 by ($0.31). The business had revenue of $42.24 billion during the quarter, compared to the consensus estimate of $46.62 billion. Chevron had a net margin of 7.87% and a return on equity of 6.89%. Chevron’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Equities research analysts predict that Chevron will post 8.17 EPS for the current fiscal year.
In other Chevron news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $116.00, for a total transaction of $551,000.00. Following the transaction, the insider now owns 4,750 shares in the company, valued at approximately $551,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Live Your Vision LLC raised its position in Chevron by 308.0% during the 2nd quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 616 shares during the last quarter. Advisors Preferred LLC bought a new position in Chevron during the 1st quarter worth $110,000. Earnest Partners LLC bought a new position in Chevron during the 4th quarter worth $114,000. Virtue Capital Management LLC bought a new position in Chevron during the 4th quarter worth $128,000. Finally, Litman Gregory Asset Management LLC raised its position in Chevron by 566.9% during the 1st quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock worth $131,000 after purchasing an additional 975 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.
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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