Piper Sandler Raises Chevron (NYSE:CVX) Price Target to $204.00

Chevron (NYSE:CVX) had its price objective lifted by analysts at Piper Sandler from $180.00 to $204.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler’s price target would indicate a potential upside of 29.44% from the stock’s previous close.

CVX has been the topic of several other research reports. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research report on Tuesday, February 6th. Barclays initiated coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research report on Monday, January 8th. Truist Financial dropped their price target on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research report on Friday, April 5th. Finally, Royal Bank of Canada increased their price objective on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Chevron Price Performance

CVX stock traded up $1.20 during trading on Thursday, hitting $157.60. 623,421 shares of the company’s stock traded hands, compared to its average volume of 8,469,440. Chevron has a 52 week low of $139.62 and a 52 week high of $172.38. The stock has a market capitalization of $292.71 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 2.30 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The business has a fifty day simple moving average of $155.19 and a 200 day simple moving average of $151.86.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same period in the prior year, the business earned $4.09 EPS. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. As a group, research analysts expect that Chevron will post 13.56 EPS for the current fiscal year.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Picton Mahoney Asset Management purchased a new stake in shares of Chevron during the 3rd quarter worth approximately $26,000. Bare Financial Services Inc purchased a new position in shares of Chevron during the 4th quarter worth about $27,000. Valley Forge Investment Consultants Inc. ADV increased its position in Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Chevron during the 4th quarter worth approximately $30,000. Finally, Valued Wealth Advisors LLC purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.