UBS AG Analysts Give Chevron Corporation (CVX) a $105.00 Price Target
Chevron Corporation (NYSE:CVX) has been given a $105.00 target price by investment analysts at UBS AG in a research report issued to clients and investors on Wednesday, www.boersen-zeitung.de reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. UBS AG’s price target would suggest a potential downside of 5.22% from the stock’s current price.
Other analysts also recently issued reports about the company. Bank of America Corporation reissued a “buy” rating and issued a $135.00 target price (down from $145.00) on shares of Chevron Corporation in a report on Thursday, May 11th. Scotiabank reissued a “buy” rating and issued a $113.00 target price on shares of Chevron Corporation in a report on Friday, June 30th. Jefferies Group LLC set a $135.00 target price on Chevron Corporation and gave the company a “buy” rating in a report on Saturday, June 24th. BMO Capital Markets set a $130.00 target price on Chevron Corporation and gave the company a “buy” rating in a report on Thursday, June 22nd. Finally, HSBC Holdings plc raised Chevron Corporation from a “hold” rating to a “buy” rating and reduced their target price for the company from $124.00 to $119.00 in a report on Monday, June 5th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $116.40.
Shares of Chevron Corporation (NYSE:CVX) traded down 0.91% on Wednesday, hitting $110.78. The stock had a trading volume of 4,033,102 shares. The firm has a market cap of $209.93 billion, a PE ratio of 35.92 and a beta of 1.23. Chevron Corporation has a 52-week low of $97.53 and a 52-week high of $119.00. The firm’s 50-day moving average price is $108.14 and its 200 day moving average price is $107.10. Chevron Corporation also was the target of some unusual options trading on Thursday. Traders acquired 11,953 put options on the stock. This is an increase of 167% compared to the average daily volume of 4,471 put options.
Chevron Corporation (NYSE:CVX) last posted its earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The business had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. During the same period in the previous year, the business earned ($0.78) EPS. The business’s quarterly revenue was up 17.8% on a year-over-year basis. On average, equities research analysts predict that Chevron Corporation will post $3.87 EPS for the current year.
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In related news, insider James William Johnson sold 31,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the sale, the insider now owns 11,000 shares in the company, valued at approximately $1,217,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Patricia E. Yarrington sold 39,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the sale, the chief financial officer now owns 43,838 shares in the company, valued at approximately $4,866,018. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,312 shares of company stock worth $8,008,343. Insiders own 0.38% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. F&V Capital Management LLC grew its holdings in Chevron Corporation by 5.8% during the 1st quarter. F&V Capital Management LLC now owns 38,072 shares of the oil and gas company’s stock valued at $4,088,000 after buying an additional 2,085 shares during the last quarter. Chevy Chase Trust Holdings Inc. grew its holdings in Chevron Corporation by 3.4% during the 1st quarter. Chevy Chase Trust Holdings Inc. now owns 1,663,896 shares of the oil and gas company’s stock valued at $178,653,000 after buying an additional 54,649 shares during the last quarter. Curbstone Financial Management Corp grew its holdings in Chevron Corporation by 0.7% during the 1st quarter. Curbstone Financial Management Corp now owns 8,145 shares of the oil and gas company’s stock valued at $875,000 after buying an additional 54 shares during the last quarter. Burns J W & Co. Inc. NY grew its holdings in Chevron Corporation by 0.6% during the 1st quarter. Burns J W & Co. Inc. NY now owns 62,645 shares of the oil and gas company’s stock valued at $6,726,000 after buying an additional 349 shares during the last quarter. Finally, Pure Financial Advisors Inc. grew its holdings in Chevron Corporation by 2.9% during the 1st quarter. Pure Financial Advisors Inc. now owns 2,886 shares of the oil and gas company’s stock valued at $310,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 62.84% of the company’s stock.
Chevron Corporation Company Profile
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.
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