Chevron (NYSE:CVX) had its target price lowered by Morgan Stanley from $146.00 to $144.00 in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the oil and gas company’s stock.
A number of other research analysts have also issued reports on CVX. Citigroup set a $13.00 target price on e.l.f. Beauty and gave the company a hold rating in a research report on Monday, May 13th. Bank of America set a $144.00 price objective on Walt Disney and gave the company a buy rating in a research note on Friday, April 12th. Cowen reissued a market perform rating and issued a $99.00 price objective (up from $97.00) on shares of United Continental in a research note on Wednesday, April 17th. Finally, Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a buy rating to a hold rating in a research note on Tuesday, May 7th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $135.72.
Shares of NYSE:CVX opened at $125.98 on Friday. Chevron has a 1 year low of $100.22 and a 1 year high of $128.55. The stock has a market cap of $239.96 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 3.75 and a beta of 1.00. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The company’s 50 day simple moving average is $121.48.
Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.13. Chevron had a return on equity of 9.07% and a net margin of 8.45%. The firm had revenue of $35.20 billion for the quarter, compared to analyst estimates of $38.42 billion. During the same quarter last year, the firm posted $1.90 EPS. The business’s revenue was down 6.8% on a year-over-year basis. As a group, analysts forecast that Chevron will post 7.45 earnings per share for the current year.
In other Chevron news, Director Enrique Hernandez, Jr. sold 4,200 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $122.13, for a total value of $512,946.00. Following the completion of the sale, the director now directly owns 15,689 shares of the company’s stock, valued at approximately $1,916,097.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,100 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $121.75, for a total value of $255,675.00. Following the completion of the sale, the director now directly owns 15,689 shares of the company’s stock, valued at $1,910,135.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,050 shares of company stock valued at $5,007,621. 0.31% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of CVX. Evolution Wealth Advisors LLC acquired a new stake in shares of Chevron in the 2nd quarter worth $34,000. CKW Financial Group increased its position in shares of Chevron by 123.5% during the 4th quarter. CKW Financial Group now owns 362 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 200 shares during the last quarter. Cordasco Financial Network increased its position in shares of Chevron by 55.3% during the 2nd quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 135 shares during the last quarter. Highwater Wealth Management LLC acquired a new stake in shares of Chevron during the 4th quarter worth about $51,000. Finally, Ironwood Financial llc increased its position in shares of Chevron by 94.2% during the 4th quarter. Ironwood Financial llc now owns 538 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 261 shares during the last quarter. 65.42% of the stock is owned by institutional investors and hedge funds.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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