Chevron (CVX) Price Target Raised to $145.00 at Morgan Stanley

Chevron (NYSE:CVX) had its target price lifted by investment analysts at Morgan Stanley from $130.00 to $145.00 in a research report issued on Wednesday, MarketBeat reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s price target indicates a potential upside of 10.53% from the stock’s current price.

Several other research firms also recently weighed in on CVX. Vetr downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 price target for the company. in a research note on Thursday, January 11th. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Zacks Investment Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $130.00 price target (up from $123.00) on shares of Chevron in a research note on Tuesday, January 23rd. Finally, BMO Capital Markets raised shares of Chevron from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $120.00 to $140.00 in a research note on Thursday, January 11th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $128.61.

Chevron (NYSE:CVX) traded up $0.54 on Wednesday, reaching $131.19. 6,111,582 shares of the company’s stock traded hands, compared to its average volume of 5,630,000. Chevron has a 12-month low of $102.55 and a 12-month high of $133.88. 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 $249,180.00, a P/E ratio of 38.25, a P/E/G ratio of 2.70 and a beta of 1.21.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The firm had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue was up 20.1% compared to the same quarter last year. analysts forecast that Chevron will post 4.3 earnings per share for the current fiscal year.

In related news, insider Pierre R. Breber sold 23,250 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the transaction, the insider now directly owns 42,182 shares in the company, valued at $5,019,658. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total transaction of $145,022.00. Following the transaction, the insider now owns 1,229 shares in the company, valued at $145,022. The disclosure for this sale can be found here. Over the last three months, insiders have sold 288,500 shares of company stock valued at $33,480,822. 0.38% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Valley National Advisers Inc. boosted its stake in Chevron by 0.4% in the second quarter. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company’s stock valued at $273,000 after acquiring an additional 11 shares during the last quarter. Deschutes Portfolio Strategy LLC boosted its stake in Chevron by 0.5% in the second quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock valued at $301,000 after acquiring an additional 13 shares during the last quarter. Regis Management CO LLC boosted its stake in Chevron by 0.4% in the second quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock valued at $341,000 after acquiring an additional 14 shares during the last quarter. Keel Point LLC boosted its stake in Chevron by 0.5% in the second quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock valued at $288,000 after acquiring an additional 14 shares during the last quarter. Finally, FCG Advisors LLC boosted its stake in Chevron by 0.4% in the second quarter. FCG Advisors LLC now owns 3,907 shares of the oil and gas company’s stock valued at $408,000 after acquiring an additional 15 shares during the last quarter. Institutional investors and hedge funds own 63.87% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This news story was published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another website, it was illegally copied and republished in violation of U.S. & international copyright & trademark laws. The original version of this news story can be read at https://www.americanbankingnews.com/2018/01/28/chevron-cvx-price-target-raised-to-145-00-at-morgan-stanley.html.

About Chevron

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)



Leave a Reply