Chevron (NYSE:CVX) Rating Reiterated by The Goldman Sachs Group

Chevron (NYSE:CVXGet Rating)‘s stock had its “neutral” rating restated by investment analysts at The Goldman Sachs Group in a report released on Thursday, MarketBeat reports. They currently have a $172.00 target price on the oil and gas company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 11.95% from the company’s current price.

A number of other research firms have also recently weighed in on CVX. Wells Fargo & Company lifted their price target on Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, August 1st. Cowen dropped their target price on Chevron from $179.00 to $160.00 and set an “outperform” rating on the stock in a report on Friday, July 1st. Citigroup dropped their target price on Chevron from $170.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 13th. HSBC raised Chevron from a “hold” rating to a “buy” rating and dropped their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 20th. Finally, Bank of America boosted their target price on Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, August 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $173.00.

Chevron Stock Performance

Shares of CVX stock opened at $153.64 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.43 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average of $154.37 and a two-hundred day moving average of $155.35. Chevron has a 52 week low of $92.86 and a 52 week high of $182.40. The company has a market cap of $301.87 billion, a P/E ratio of 10.25, a PEG ratio of 0.63 and a beta of 1.15.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $1.16. The company had revenue of $68.76 billion for the quarter, compared to analysts’ expectations of $57.69 billion. Chevron had a return on equity of 20.19% and a net margin of 13.45%. The business’s revenue for the quarter was up 82.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 earnings per share. As a group, analysts anticipate that Chevron will post 17.51 EPS for the current year.

Insider Activity

In other news, Director Wanda M. Austin sold 11,432 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the transaction, the director now directly owns 3,560 shares in the company, valued at approximately $574,762. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Mark A. Nelson sold 117,400 shares of Chevron stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total value of $18,721,778.00. Following the completion of the sale, the executive vice president now owns 788 shares of the company’s stock, valued at approximately $125,662.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction on Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the sale, the director now directly owns 3,560 shares of the company’s stock, valued at approximately $574,762. The disclosure for this sale can be found here. Insiders have sold a total of 399,043 shares of company stock worth $67,010,843 in the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Chevron

Several institutional investors and hedge funds have recently modified their holdings of the business. Halbert Hargrove Global Advisors LLC lifted its stake in shares of Chevron by 10.5% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 2,756 shares of the oil and gas company’s stock valued at $399,000 after purchasing an additional 263 shares during the last quarter. Coastal Bridge Advisors LLC lifted its stake in shares of Chevron by 24.7% in the 2nd quarter. Coastal Bridge Advisors LLC now owns 6,831 shares of the oil and gas company’s stock valued at $989,000 after purchasing an additional 1,353 shares during the last quarter. Ascent Group LLC lifted its stake in shares of Chevron by 5.7% in the 2nd quarter. Ascent Group LLC now owns 24,023 shares of the oil and gas company’s stock valued at $3,934,000 after purchasing an additional 1,291 shares during the last quarter. Wealth Advisors Inc. acquired a new stake in shares of Chevron in the 2nd quarter valued at $215,000. Finally, Lindenwold Advisors lifted its stake in shares of Chevron by 0.7% in the 2nd quarter. Lindenwold Advisors now owns 14,611 shares of the oil and gas company’s stock valued at $2,115,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 65.89% of the company’s stock.

Chevron Company Profile

(Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation 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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Analyst Recommendations for Chevron (NYSE:CVX)

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