Chevron Corporation (CVX) Rating Reiterated by Jefferies Group LLC
Chevron Corporation (NYSE:CVX)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Group LLC in a research note issued to investors on Tuesday. They presently have a $130.00 price objective on the oil and gas company’s stock. Jefferies Group LLC’s price target points to a potential upside of 10.34% from the stock’s current price.
Several other brokerages also recently weighed in on CVX. HSBC Holdings plc raised shares of Chevron Corporation from a “hold” rating to a “buy” rating and dropped their target price for the stock from $124.00 to $119.00 in a report on Monday, June 5th. They noted that the move was a valuation call. Vetr raised Chevron Corporation to a “strong-buy” rating and set a $117.49 price target on the stock in a report on Thursday, June 8th. BidaskClub raised Chevron Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Macquarie downgraded Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 price objective on the stock. in a research report on Wednesday, June 21st. Finally, BMO Capital Markets set a $130.00 price objective on Chevron Corporation and gave the company a “buy” rating in a research report on Thursday, June 22nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $116.68.
Chevron Corporation (CVX) traded up 0.33% on Tuesday, hitting $117.82. 3,892,189 shares of the stock traded hands. The stock has a market cap of $223.27 billion, a price-to-earnings ratio of 38.20 and a beta of 1.24. Chevron Corporation has a 52-week low of $99.61 and a 52-week high of $119.00. The company’s 50 day moving average price is $111.71 and its 200-day moving average price is $107.63. Chevron Corporation also was the target of unusually large options trading activity on Monday. Traders acquired 9,406 call options on the company. This represents an increase of 100% compared to the typical volume of 4,703 call options.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. The firm had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.78) earnings per share. On average, analysts forecast that Chevron Corporation will post $3.93 earnings per share for the current fiscal year.
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In related news, Director Linnet F. Deily sold 2,312 shares of Chevron Corporation stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total transaction of $248,262.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James William Johnson sold 31,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the transaction, the insider now owns 11,000 shares in the company, valued at $1,217,480. The disclosure for this sale can be found here. Insiders sold a total of 72,312 shares of company stock valued at $8,008,343 in the last 90 days. Company insiders own 0.38% of the company’s stock.
A number of institutional investors have recently bought and sold shares of CVX. Pathstone Family Office LLC boosted its position in shares of Chevron Corporation by 2.5% during the second quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock valued at $2,170,000 after buying an additional 20 shares during the period. Shine Investment Advisory Services Inc. bought a new position in shares of Chevron Corporation during the second quarter valued at approximately $106,000. Thompson Davis & CO. Inc. grew its stake in shares of Chevron Corporation by 20.0% during the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 191 shares during the last quarter. Winfield Associates Inc. raised its holdings in shares of Chevron Corporation by 5.1% in the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after buying an additional 63 shares during the period. Finally, Americafirst Capital Management LLC purchased a new stake in shares of Chevron Corporation in the first quarter worth approximately $140,000. 62.74% of the stock is currently owned by institutional investors.
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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