Chevron (CVX) Upgraded to Sector Perform by Royal Bank of Canada

Chevron (NYSE:CVX) was upgraded by analysts at Royal Bank of Canada from an “underperform” rating to a “sector perform” rating in a research note issued on Friday, MarketBeat Ratings reports. The firm currently has a $125.00 price objective on the oil and gas company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 10.13% from the company’s previous close.

Several other equities research analysts have also commented on CVX. Credit Suisse Group cut their target price on Chevron from $130.00 to $129.00 and set a “neutral” rating on the stock in a research report on Monday, February 5th. Barclays upgraded Chevron from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $130.00 to $135.00 in a research report on Tuesday. Wells Fargo & Co cut their target price on Chevron from $125.00 to $125.00 and set an “outperform” rating on the stock in a research report on Monday, February 5th. Goldman Sachs Group lowered Chevron from a “conviction-buy” rating to a “buy” rating in a research report on Monday, February 5th. Finally, Vetr lowered Chevron from a “buy” rating to a “hold” rating and set a $134.35 target price on the stock. in a research report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $130.30.

Shares of Chevron (NYSE CVX) traded up $1.20 during trading on Friday, hitting $113.50. The company had a trading volume of 10,920,000 shares, compared to its average volume of 7,200,000. Chevron has a 52 week low of $102.55 and a 52 week 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 cap of $217,880.00, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 2.21 and a beta of 1.15.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.54). Chevron had a net margin of 6.49% and a return on equity of 5.23%. The business had revenue of $37.62 billion for the quarter, compared to the consensus estimate of $38.43 billion. During the same quarter in the previous year, the company earned $0.22 EPS. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. analysts predict that Chevron will post 6.36 earnings per share for the current fiscal year.

In other Chevron news, insider Pierre R. Breber sold 23,250 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $116.85, for a total value of $2,716,762.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Patricia E. Yarrington sold 13,143 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $115.01, for a total value of $1,511,576.43. Following the completion of the transaction, the chief financial officer now owns 17,981 shares in the company, valued at approximately $2,067,994.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 287,271 shares of company stock worth $33,335,800. Corporate insiders own 0.38% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Chevron by 2.9% in the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after purchasing an additional 3,920,240 shares during the last quarter. BlackRock Inc. raised its stake in shares of Chevron by 1.9% in the fourth quarter. BlackRock Inc. now owns 128,530,034 shares of the oil and gas company’s stock worth $16,090,676,000 after purchasing an additional 2,356,734 shares during the last quarter. Capital World Investors raised its stake in shares of Chevron by 9.8% in the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after purchasing an additional 3,182,250 shares during the last quarter. Northern Trust Corp raised its stake in shares of Chevron by 0.6% in the second quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock worth $2,728,558,000 after purchasing an additional 157,021 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Chevron by 0.3% during the second quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock valued at $1,628,554,000 after acquiring an additional 49,083 shares during the last quarter. 64.06% of the stock is 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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