Chevron Corporation (CVX) Cut to “Hold” at Vetr Inc.
Chevron Corporation (NYSE:CVX) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a report released on Monday. They currently have a $124.92 target price on the oil and gas company’s stock. Vetr‘s price target would indicate a potential upside of 3.99% from the company’s previous close.
A number of other research analysts also recently commented on CVX. Piper Jaffray Companies reissued a “buy” rating on shares of Chevron Corporation in a report on Thursday, August 3rd. Jefferies Group LLC set a $135.00 price target on Chevron Corporation and gave the company a “buy” rating in a report on Saturday, June 24th. Zacks Investment Research raised Chevron Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. BNP Paribas raised Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 price target for the company in a report on Monday, August 7th. Finally, TheStreet downgraded Chevron Corporation from a “b” rating to a “c+” rating in a report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $117.30.
Shares of Chevron Corporation (NYSE CVX) traded up 0.81% during midday trading on Monday, hitting $120.13. The stock had a trading volume of 5,500,652 shares. The stock has a 50 day moving average of $114.83 and a 200-day moving average of $108.32. The company has a market cap of $227.65 billion, a P/E ratio of 39.00 and a beta of 1.24. Chevron Corporation has a one year low of $99.87 and a one year high of $120.89.
Chevron Corporation (NYSE:CVX) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The firm had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. Chevron Corporation’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.78) earnings per share. Analysts forecast that Chevron Corporation will post $4.04 EPS for the current fiscal year.
In related news, insider James William Johnson sold 31,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the sale, the insider now directly owns 11,000 shares in the company, valued at approximately $1,217,480. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Linnet F. Deily sold 2,312 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total value of $248,262.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,312 shares of company stock worth $8,008,343. 0.38% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CVX. Harbour Capital Advisors LLC increased its position in Chevron Corporation by 10,213.3% in the 2nd quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock valued at $54,721,000 after acquiring an additional 5,653,686 shares during the period. Vanguard Group Inc. increased its position in Chevron Corporation by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after acquiring an additional 3,920,240 shares during the period. Capital World Investors increased its position in Chevron Corporation by 9.8% in the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after acquiring an additional 3,182,250 shares during the period. Janus Henderson Group PLC increased its position in Chevron Corporation by 669.9% in the 2nd quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock valued at $337,050,000 after acquiring an additional 2,810,928 shares during the period. Finally, BlackRock Inc. increased its position in Chevron Corporation by 1.6% in the 2nd quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after acquiring an additional 1,975,865 shares during the period. Hedge funds and other institutional investors own 62.72% of the company’s stock.
Chevron Corporation 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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