Royal Bank Of Canada Analysts Give Chevron Corporation (CVX) a $100.00 Price Target
Chevron Corporation (NYSE:CVX) has been given a $100.00 target price by research analysts at Royal Bank Of Canada in a report released on Friday. The firm presently has a “sell” rating on the oil and gas company’s stock. Royal Bank Of Canada’s target price points to a potential downside of 6.09% from the stock’s previous close.
A number of other brokerages also recently commented on CVX. Zacks Investment Research upgraded shares of Chevron Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Piper Jaffray Companies reiterated a “buy” rating on shares of Chevron Corporation in a report on Thursday, August 3rd. BNP Paribas upgraded shares of Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 price target for the company in a report on Monday, August 7th. BidaskClub upgraded shares of Chevron Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, TheStreet downgraded shares of Chevron Corporation from a “b” rating to a “c+” rating in a report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $116.80.
Shares of Chevron Corporation (NYSE CVX) opened at 106.48 on Friday. Chevron Corporation has a 1-year low of $97.53 and a 1-year high of $119.00. The stock has a market cap of $201.78 billion, a PE ratio of 34.53 and a beta of 1.23. The stock has a 50 day moving average of $106.43 and a 200 day moving average of $107.47.
Chevron Corporation (NYSE:CVX) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.78) earnings per share. Equities research analysts forecast that Chevron Corporation will post $3.81 EPS for the current year.
In other news, CFO Patricia E. Yarrington sold 39,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the transaction, the chief financial officer now directly owns 43,838 shares of the company’s stock, valued at $4,866,018. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James William Johnson sold 31,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the transaction, the insider now directly owns 11,000 shares in the company, valued at $1,217,480. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,312 shares of company stock valued at $8,008,343. 0.38% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CVX. Norges Bank purchased a new position in Chevron Corporation during the fourth quarter worth approximately $2,183,692,000. Harbour Capital Advisors LLC boosted its position in Chevron Corporation by 10,213.3% in the second quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock worth $54,721,000 after buying an additional 5,653,686 shares during the last quarter. Vanguard Group Inc. boosted its position in Chevron Corporation by 2.9% in the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after buying an additional 3,920,240 shares during the last quarter. Capital World Investors boosted its position in Chevron Corporation by 9.8% in the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after buying an additional 3,182,250 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in Chevron Corporation by 669.9% in the second quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock worth $337,050,000 after buying an additional 2,810,928 shares during the last quarter. 62.75% of the stock is currently owned by institutional investors and hedge funds.
About Chevron Corporation
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
Receive News & Ratings for Chevron Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron Corporation and related companies with MarketBeat.com's FREE daily email newsletter.