Chevron (NYSE:CVX) has been assigned a $110.00 price objective by Royal Bank of Canada in a report released on Wednesday. The brokerage presently has a “sell” rating on the oil and gas company’s stock. Royal Bank of Canada’s price objective points to a potential downside of 9.01% from the stock’s current price.
Several other brokerages have also commented on CVX. Jefferies Group reiterated a “buy” rating and set a $140.00 price objective on shares of Chevron in a report on Wednesday. Cowen restated an “outperform” rating and issued a $160.00 target price (up previously from $122.00) on shares of Chevron in a research note on Thursday. Credit Suisse Group assumed coverage on Chevron in a research note on Monday, December 11th. They issued a “neutral” rating and a $123.00 target price for the company. BMO Capital Markets lowered Chevron from an “outperform” rating to a “market perform” rating and set a $120.00 target price for the company. in a research note on Wednesday, October 18th. They noted that the move was a valuation call. Finally, Societe Generale lowered Chevron from a “buy” rating to a “hold” rating and raised their target price for the stock from $120.00 to $130.00 in a research note on Wednesday, October 18th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $123.54.
Shares of Chevron (NYSE:CVX) opened at $120.89 on Wednesday. Chevron has a twelve month low of $102.55 and a twelve month high of $122.30. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $227,620.97, a price-to-earnings ratio of 33.57, a PEG ratio of 3.95 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 sale, the chief financial officer now directly owns 17,981 shares in the company, valued at approximately $2,067,994.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total value of $145,022.00. Following the sale, the insider now owns 1,229 shares in the company, valued at $145,022. The disclosure for this sale can be found here. Insiders have sold a total of 314,000 shares of company stock worth $36,540,822 over the last ninety days. 0.38% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Harbour Capital Advisors LLC lifted its stake in Chevron by 10,213.3% in the 2nd quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock valued at $54,721,000 after buying an additional 5,653,686 shares in the last quarter. Vanguard Group Inc. lifted its stake in Chevron by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after buying an additional 3,920,240 shares in the last quarter. Capital World Investors lifted its stake in Chevron by 9.8% in the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after buying an additional 3,182,250 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Chevron by 669.9% in the 2nd quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock valued at $337,050,000 after buying an additional 2,810,928 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in Chevron by 305,886.4% in the 3rd quarter. First Eagle Investment Management LLC now owns 2,613,124 shares of the oil and gas company’s stock valued at $307,042,000 after buying an additional 2,612,270 shares in the last quarter. Hedge funds and other institutional investors own 63.77% of the company’s stock.
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Chevron 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.
