UBS Reiterates “$120.00” Price Target for Chevron (CVX)
Chevron (NYSE:CVX) has been given a $120.00 target price by investment analysts at UBS in a research report issued to clients and investors on Monday, www.boersen-zeitung.de reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. UBS’s target price indicates a potential downside of 0.70% from the company’s previous close.
Several other analysts also recently weighed in on CVX. BNP Paribas upgraded Chevron from an “underperform” rating to a “neutral” rating and set a $105.00 price objective for the company in a research report on Monday, August 7th. Bank of America set a $125.00 price objective on Chevron and gave the stock a “buy” rating in a research report on Saturday. Wells Fargo & Company restated a “market perform” rating and set a $108.00 price objective (up from $100.00) on shares of Chevron in a research report on Tuesday, October 3rd. Jefferies Group restated a “buy” rating and set a $137.00 price objective on shares of Chevron in a research report on Thursday, October 19th. Finally, Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a research report on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $121.22.
Shares of Chevron (NYSE:CVX) traded up $1.33 during mid-day trading on Monday, hitting $120.84. The company had a trading volume of 7,366,372 shares, compared to its average volume of 5,631,530. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. Chevron has a twelve month low of $102.55 and a twelve month high of $122.30. The company has a market cap of $229,520.00, a P/E ratio of 33.48, a P/E/G ratio of 3.89 and a beta of 1.21.
In other news, CFO Patricia E. Yarrington sold 13,143 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the completion of the transaction, the chief financial officer now directly owns 17,981 shares in the company, valued at $2,067,994.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP R. Hewitt Pate sold 25,500 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $120.00, for a total value of $3,060,000.00. Following the transaction, the vice president now owns 25,500 shares of the company’s stock, valued at $3,060,000. The disclosure for this sale can be found here. Insiders sold 314,000 shares of company stock valued at $36,540,822 over the last quarter. Corporate insiders own 0.38% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CVX. Pathstone Family Office LLC grew its stake in Chevron by 2.5% during the second quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock worth $2,170,000 after purchasing an additional 20 shares during the period. Shine Investment Advisory Services Inc. acquired a new stake in Chevron during the second quarter worth approximately $106,000. Thompson Davis & CO. Inc. grew its stake in Chevron by 20.0% during the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 191 shares during the period. Winfield Associates Inc. grew its stake in Chevron by 5.1% during the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 63 shares during the period. Finally, Accurate Investment Solutions Inc. grew its stake in Chevron by 59.1% during the third quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 502 shares during the period. Institutional investors own 63.93% of the company’s stock.
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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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