Chevron (CVX) Lowered to Hold at HSBC

Chevron (NYSE:CVX) was downgraded by stock analysts at HSBC from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports.

CVX has been the topic of a number of other reports. Morgan Stanley raised their price objective on Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Royal Bank of Canada set a $110.00 price objective on Chevron and gave the company a “sell” rating in a report on Wednesday, December 20th. Barclays raised their price objective on Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, October 10th. Jefferies Group reissued a “buy” rating and set a $137.00 price objective on shares of Chevron in a report on Thursday, October 19th. Finally, Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $129.00 price objective on the stock in a report on Friday, November 17th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $126.06.

Shares of Chevron (CVX) traded down $0.29 during midday trading on Thursday, hitting $131.30. The company had a trading volume of 6,050,000 shares, compared to its average volume of 5,470,000. The stock has a market cap of $249,390.00, a PE ratio of 38.28, a price-to-earnings-growth ratio of 2.82 and a beta of 1.21. 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 52 week low of $102.55 and a 52 week high of $133.88.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.04. The company had revenue of $36.21 billion for the quarter, compared to analysts’ expectations of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. Chevron’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. sell-side analysts anticipate that Chevron will post 4.37 earnings per share for the current fiscal year.

In other Chevron news, Vice Chairman Michael K. Wirth sold 1,229 shares of Chevron stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total value of $145,022.00. Following the transaction, the insider now directly owns 1,229 shares of the company’s stock, valued at approximately $145,022. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pierre R. Breber sold 23,250 shares of Chevron stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $119.00, for a total value of $2,766,750.00. Following the completion of the transaction, the insider now directly owns 42,182 shares in the company, valued at $5,019,658. The disclosure for this sale can be found here. Insiders sold a total of 288,500 shares of company stock worth $33,480,822 over the last ninety days. Insiders own 0.38% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Winslow Evans & Crocker Inc. increased its stake in shares of Chevron by 2.1% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 25,882 shares of the oil and gas company’s stock valued at $3,240,000 after buying an additional 532 shares during the period. Plancorp LLC increased its stake in shares of Chevron by 15.5% during the fourth quarter. Plancorp LLC now owns 16,893 shares of the oil and gas company’s stock valued at $2,118,000 after buying an additional 2,266 shares during the period. V Wealth Management LLC increased its stake in shares of Chevron by 20.3% during the fourth quarter. V Wealth Management LLC now owns 6,051 shares of the oil and gas company’s stock valued at $796,000 after buying an additional 1,022 shares during the period. TRUE Private Wealth Advisors increased its stake in shares of Chevron by 32.5% during the fourth quarter. TRUE Private Wealth Advisors now owns 12,669 shares of the oil and gas company’s stock valued at $1,586,000 after buying an additional 3,105 shares during the period. Finally, Personal Capital Advisors Corp increased its stake in shares of Chevron by 5.2% during the fourth quarter. Personal Capital Advisors Corp now owns 296,227 shares of the oil and gas company’s stock valued at $37,085,000 after buying an additional 14,555 shares during the period. 63.84% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Chevron (NYSE:CVX)

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