Chevron Corp. (CVX) Rating Reiterated by HSBC
Chevron Corp. (NYSE:CVX)‘s stock had its “buy” rating reiterated by HSBC in a report issued on Sunday. They currently have a $120.00 target price on the stock. HSBC’s price target would indicate a potential upside of 18.72% from the company’s current price.
Other research analysts also recently issued reports about the company. Vetr upgraded Chevron Corp. from a “hold” rating to a “buy” rating and set a $107.24 price objective on the stock in a research report on Tuesday, August 9th. Jefferies Group restated a “buy” rating on shares of Chevron Corp. in a research report on Friday, August 5th. Zacks Investment Research upgraded Chevron Corp. from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a research report on Tuesday, July 12th. Finally, Barclays PLC restated an “equal weight” rating and set a $125.00 price objective on shares of Chevron Corp. in a research report on Thursday, July 28th. Thirteen investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $105.89.
Chevron Corp. (NYSE:CVX) opened at 101.08 on Friday. The company has a 50 day moving average of $101.00 and a 200-day moving average of $101.27. The firm’s market cap is $190.69 billion. Chevron Corp. has a one year low of $75.33 and a one year high of $107.58.
Chevron Corp. (NYSE:CVX) last announced its quarterly earnings results on Friday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $1.10. The firm had revenue of $29.28 billion for the quarter, compared to analyst estimates of $25.78 billion. Chevron Corp. had a negative net margin of 0.64% and a positive return on equity of 1.07%. The firm’s quarterly revenue was down 27.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 earnings per share. On average, equities research analysts predict that Chevron Corp. will post $1.31 earnings per share for the current year.
In other Chevron Corp. news, insider Michael K. Wirth sold 125,000 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $100.47, for a total transaction of $12,558,750.00. Following the transaction, the insider now owns 4,222 shares in the company, valued at approximately $424,184.34. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Pierre R. Breber sold 21,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $98.77, for a total value of $2,074,170.00. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of CVX. Thompson Davis & CO. Inc. raised its stake in shares of Chevron Corp. by 322.6% in the second quarter. Thompson Davis & CO. Inc. now owns 955 shares of the company’s stock worth $100,000 after buying an additional 729 shares in the last quarter. RPg Family Wealth Advisory LLC raised its stake in shares of Chevron Corp. by 14.5% in the first quarter. RPg Family Wealth Advisory LLC now owns 1,058 shares of the company’s stock worth $101,000 after buying an additional 134 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of Chevron Corp. by 115.6% in the second quarter. Global X Management Co. LLC now owns 1,158 shares of the company’s stock worth $121,000 after buying an additional 621 shares in the last quarter. Camarda Financial Advisors LLC purchased a new stake in shares of Chevron Corp. during the second quarter worth $122,000. Finally, Wealthcare Capital Management LLC purchased a new stake in shares of Chevron Corp. during the second quarter worth $128,000. Institutional investors own 62.24% of the company’s stock.
About Chevron Corp.
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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