Chevron (NYSE:CVX) Stock Price Target Raised at Barclays

Chevron (NYSE:CVX) had its target price lifted by Barclays from $244.00 to $248.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price objective points to a potential upside of 13.71% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. Weiss Ratings cut shares of Chevron from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, November 2nd. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $240.00 price target for the company. in a research note on Tuesday, November 3rd. Wall Street Zen upgraded shares of Chevron from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. TD Cowen increased their price objective on shares of Chevron from $215.00 to $225.00 and gave the company a “hold” rating in a report on Monday, October 12th. Finally, Argus raised their price objective on shares of Chevron from $206.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $222.96.

Chevron Trading Up 0.8%

CVX stock traded up $1.74 during midday trading on Friday, reaching $218.09. The stock had a trading volume of 486,831 shares, compared to its average volume of 10,195,778. The business has a fifty day simple moving average of $215.33 and a two-hundred day simple moving average of $195.33. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.16. The firm has a market cap of $428.64 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 0.50 and a beta of 0.47. Chevron has a twelve month low of $146.49 and a twelve month high of $236.48.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.87 by $0.41. Chevron had a return on equity of 14.49% and a net margin of 11.56%. The firm had revenue of $65.24 billion during the quarter, compared to analysts’ expectations of $61.82 billion. During the same period in the previous year, the business posted $1.85 EPS. The company’s quarterly revenue was up 36.3% compared to the same quarter last year. As a group, research analysts expect that Chevron will post 18.64 EPS for the current fiscal year.

Insider Buying and Selling

In other Chevron news, insider R. Pate sold 40,700 shares of Chevron stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the transaction, the insider directly owned 8,791 shares in the company, valued at approximately $1,992,480.15. The trade was a 82.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Vice Chairman Mark A. Nelson sold 112,000 shares of the business’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $210.48, for a total value of $23,573,760.00. Following the completion of the transaction, the insider directly owned 11,647 shares of the company’s stock, valued at approximately $2,451,460.56. The trade was a 90.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 174,370 shares of company stock valued at $37,224,309. 0.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chevron

Several institutional investors have recently modified their holdings of CVX. Kidder Stephen W increased its position in shares of Chevron by 10.2% during the third quarter. Kidder Stephen W now owns 37,600 shares of the oil and gas company’s stock worth $7,678,000 after acquiring an additional 3,480 shares in the last quarter. Wealth Alliance LLC raised its holdings in shares of Chevron by 4.7% during the third quarter. Wealth Alliance LLC now owns 21,927 shares of the oil and gas company’s stock worth $4,478,000 after acquiring an additional 975 shares during the period. Trivium Point Advisory LLC lifted its position in Chevron by 28.6% in the 3rd quarter. Trivium Point Advisory LLC now owns 31,503 shares of the oil and gas company’s stock valued at $6,433,000 after acquiring an additional 7,003 shares in the last quarter. Snowwater Investment Partners LLC lifted its position in Chevron by 3.6% in the 3rd quarter. Snowwater Investment Partners LLC now owns 9,265 shares of the oil and gas company’s stock valued at $1,892,000 after acquiring an additional 318 shares in the last quarter. Finally, Xcelsior Advisor Partners LLC lifted its position in Chevron by 106.6% in the 3rd quarter. Xcelsior Advisor Partners LLC now owns 67,216 shares of the oil and gas company’s stock valued at $13,726,000 after acquiring an additional 34,677 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

More Chevron News

These are some of the CVX news items that stood out recently:

• Neutral Sentiment: Some coverage describes CVX as discounted despite its strong five-year run. That valuation view could support investor interest, but it is an opinion rather than a new company development. Article: Chevron Stock Looks Discounted
• Negative Sentiment: Sanford C. Bernstein lowered its price target to $233 from $248 and kept a “market perform” rating, indicating a more cautious view of potential upside. Article: Bernstein Lowers Chevron Price Target
• Negative Sentiment: Vice Chairman Mark Nelson sold 112,000 shares for about $23.6 million, cutting his direct holdings by 90.6%. The sale may weigh on sentiment, although it does not reveal his reason for selling. SEC Form 4 filing

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.