Barclays Boosts Chevron (NYSE:CVX) Price Target to $180.00

Chevron (NYSE:CVX) had its price objective upped by investment analysts at Barclays from $172.00 to $180.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price objective points to a potential downside of 8.83% from the stock’s previous close.

CVX has been the subject of a number of other reports. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $180.00 price target for the company. in a research report on Monday, February 2nd. Morgan Stanley lowered their price target on Chevron from $180.00 to $174.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Melius Research raised Chevron from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a report on Tuesday, February 17th. Sanford C. Bernstein boosted their target price on Chevron from $170.00 to $172.00 and gave the stock a “market perform” rating in a research report on Monday, January 5th. Finally, Piper Sandler boosted their target price on Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a research report on Thursday. Thirteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $182.68.

Chevron Price Performance

Shares of NYSE:CVX traded up $0.60 on Monday, reaching $197.42. 2,355,108 shares of the company were exchanged, compared to its average volume of 12,300,174. The company has a 50-day moving average of $177.33 and a 200-day moving average of $162.07. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The firm has a market cap of $393.94 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 1.82 and a beta of 0.67. Chevron has a 1-year low of $132.04 and a 1-year high of $198.88.

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

Insider Buying and Selling at Chevron

In related news, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the transaction, the insider directly owned 11,337 shares in the company, valued at $2,130,449.04. The trade was a 92.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider R. Hewitt Pate sold 58,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $188.65, for a total value of $10,941,700.00. Following the completion of the sale, the insider directly owned 8,558 shares in the company, valued at approximately $1,614,466.70. The trade was a 87.14% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,099,397 shares of company stock valued at $196,196,468. Company insiders own 0.20% of the company’s stock.

Institutional Trading of Chevron

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

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.