Chevron (NYSE:CVX) Stock Price Target Raised at Morgan Stanley

Chevron (NYSE:CVX) had its target price increased by equities research analysts at Morgan Stanley from $218.00 to $226.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s price target would suggest a potential upside of 2.50% from the stock’s previous close.

Other analysts have also recently issued reports about the company. TD Cowen increased their target price on Chevron from $215.00 to $225.00 and gave the stock a “hold” rating in a research note on Monday. Sanford C. Bernstein raised their target price on shares of Chevron from $204.00 to $209.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Royal Bank Of Canada upped their price objective on Chevron from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, September 24th. Bank of America upped their price target on shares of Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, HSBC set a $90.00 price target on shares of Chevron in a report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $213.42.

Chevron Trading Down 0.7%

Shares of CVX stock traded down $1.54 on Thursday, reaching $220.50. The company had a trading volume of 2,429,079 shares, compared to its average volume of 10,407,937. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The stock has a market cap of $435.65 billion, a PE ratio of 21.13, a PEG ratio of 0.60 and a beta of 0.53. The company has a 50-day moving average of $206.20 and a 200-day moving average of $193.23. Chevron has a 12 month low of $146.49 and a 12 month high of $223.46.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. Chevron’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.77 EPS. On average, equities analysts forecast that Chevron will post 17.59 earnings per share for the current year.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 317,100 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $200.46, for a total transaction of $63,565,866.00. Following the sale, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. The trade was a 92.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider R. Pate sold 2,470 shares of Chevron stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the sale, the insider directly owned 10,794 shares in the company, valued at $2,213,957.34. The trade was a 18.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,152,582 shares of company stock worth $225,853,661 over the last three months. 0.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Chevron

Several large investors have recently modified their holdings of CVX. Blue Capital Inc. bought a new stake in shares of Chevron in the 2nd quarter valued at $786,000. OneAscent Wealth Management LLC bought a new position in Chevron during the second quarter worth $973,000. Global Retirement Partners LLC acquired a new position in Chevron in the second quarter valued at $14,276,000. Ferguson Wellman Capital Management Inc. lifted its holdings in Chevron by 0.6% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company’s stock valued at $186,182,000 after buying an additional 5,787 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in Chevron by 6.8% during the first quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock valued at $258,853,000 after acquiring an additional 79,439 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: An analyst upgrade helped drive Chevron shares to a new one-year high, reinforcing the bullish view on the company’s earnings, cash generation and dividend outlook. Chevron Sets New 1-Year High on Analyst Upgrade
• Positive Sentiment: Wall Street expects a sharp, potentially triple-digit increase in third-quarter earnings when Chevron reports by the end of October. Stronger commodity prices and operating performance could provide a near-term catalyst. Chevron Next Earnings Report Expectations
• Positive Sentiment: CEO Mike Wirth said commercial inventories, emergency reserves and previously sanctioned oil supplies have been substantially used up following the Iran-related supply shock. The reduced buffer could keep oil and refined-product prices elevated, benefiting Chevron’s upstream and downstream businesses, although diesel relief may not arrive until 2027. Chevron CEO Warns Oil Buffers Are Drained
• Positive Sentiment: Chevron is among the energy companies investing in Venezuela’s oil revival, potentially creating long-term production growth as the United States seeks alternatives to disrupted supply routes. Venezuela Oil Revival
• Positive Sentiment: Chevron-linked technical expertise helped deliver first commercial gas from Australia’s Beetaloo Basin, supporting future LNG supply and potential growth in the company’s international gas portfolio. Chevron and Beetaloo Gas
• Neutral Sentiment: Chevron and Shell are restoring U.S. Gulf production after Hurricane Isaias, with no reported facility damage. The quick recovery limits operational disruption but offers little incremental upside. Gulf Oil Production Recovery
• Negative Sentiment: Some valuation analysis argues that Chevron’s strong rally has moved the stock ahead of what its cash flows justify, while another review notes that its long-term performance still trails the broader market. These concerns may encourage profit-taking near record levels. Chevron Cash Flow Valuation

Chevron Company Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.