Citigroup Issues Positive Forecast for Chevron (NYSE:CVX) Stock Price

Chevron (NYSE:CVX) had its price target upped by investment analysts at Citigroup from $179.00 to $210.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Citigroup’s price objective points to a potential upside of 11.16% from the stock’s current price.

A number of other research firms have also recently weighed in on CVX. Scotiabank reaffirmed a “sector perform” rating and set a $168.00 price target on shares of Chevron in a research note on Friday, January 16th. Bank of America lifted their price objective on shares of Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research note on Monday. Sanford C. Bernstein increased their target price on Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a report on Monday, January 5th. Barclays boosted their target price on shares of Chevron from $158.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 21st. Finally, Zacks Research raised Chevron from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 23rd. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $178.95.

Chevron Price Performance

Shares of NYSE:CVX traded up $2.16 during midday trading on Monday, hitting $188.92. The company’s stock had a trading volume of 9,921,753 shares, compared to its average volume of 11,894,664. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.15. The business’s 50 day simple moving average is $169.52 and its 200 day simple moving average is $159.64. The company has a market cap of $376.97 billion, a P/E ratio of 28.36, a price-to-earnings-growth ratio of 12.36 and a beta of 0.67. Chevron has a 12-month low of $132.04 and a 12-month high of $191.44.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.08. The business had revenue of $45.79 billion for the quarter, compared to the consensus estimate of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The business’s revenue was down 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.06 EPS. On average, analysts forecast that Chevron will post 10.79 EPS for the current year.

Insiders Place Their Bets

In other Chevron news, Vice Chairman Mark A. Nelson sold 45,800 shares of Chevron stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $174.17, for a total value of $7,976,986.00. Following the transaction, the insider owned 7,161 shares in the company, valued at approximately $1,247,231.37. The trade was a 86.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alana K. Knowles sold 2,408 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $183.28, for a total value of $441,338.24. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 534,898 shares of company stock worth $89,543,711. Company insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CVX. Phillip James Consulting Co. bought a new stake in Chevron in the fourth quarter valued at about $26,000. Core Wealth Advisors LLC acquired a new stake in shares of Chevron in the fourth quarter valued at approximately $26,000. Karpus Management Inc. bought a new stake in Chevron during the 4th quarter worth about $27,000. Basso Capital Management L.P. acquired a new position in Chevron during the fourth quarter valued at approximately $27,000. Finally, Quattro Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $27,000. 72.42% of the stock is owned by institutional investors.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Geopolitical-driven oil rally: Crude prices surged (reports up to ~13%) after strikes and closures near the Strait of Hormuz, lifting major integrated oil names including Chevron as higher oil prices boost near-term revenue and cash flow expectations. CVX Shares Surge in Early Trading as Crude Oil Soars on Middle East Turmoil
• Positive Sentiment: Analyst upgrade and higher target: Bank of America raised its price target on CVX from $188 to $206 and set a “buy” rating, providing authoritative buy-side validation and upside guidance that supports further gains. Benzinga article
• Positive Sentiment: Sector momentum: Market commentary (Barron’s) highlights why Exxon, Chevron and peers could continue to rally as energy prices rise, reinforcing investor rotation into energy stocks. Exxon and Chevron Soar. Why Energy Stocks Could Go Even Higher.
• Neutral Sentiment: Longer-term asset upside but execution risk: Chevron is in talks to operate Iraq’s West Qurna 2 field and is expanding in Venezuela and the Mediterranean — a strategic positive for reserves but with political and execution risk that makes near-term valuation impact uncertain. Chevron’s Iraq Talks And New Fields Test Valuation And Risk Profile
• Neutral Sentiment: Mixed consensus: Brokerages’ average rating remains around “Hold,” suggesting analysts see upside but also risks/capex and cyclicality that temper unanimous bullishness. Chevron Receives Average Rating of Hold
• Negative Sentiment: Insider selling noted: Coverage points to roughly $89M of recent insider sales even as commentators (e.g., Jim Cramer) say hold — insider activity can weigh on sentiment and be viewed as a governance/conviction red flag. Chevron Stock Analysis: Why Jim Cramer Advises Holding CVX Despite Insider Sales
• Negative Sentiment: Berkshire omission: Berkshire’s new CEO omitted Chevron from his list of core holdings, a symbolic signal that may reduce confidence among some long-term institutional investors. Berkshire Hathaway Omits Bank of America And Chevron

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.