Chevron (CVX) PT Lowered to $129.00

Chevron (NYSE:CVX) had its price objective cut by research analysts at Credit Suisse Group from $130.00 to $129.00 in a report issued on Monday. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 14.54% from the company’s previous close.

A number of other research firms have also commented on CVX. Vetr lowered Chevron from a “buy” rating to a “hold” rating and set a $134.35 price objective on the stock. in a research note on Thursday, January 11th. HSBC lowered Chevron from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Morgan Stanley raised their price objective on Chevron from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Zacks Investment Research lowered Chevron from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $153.00 price objective on shares of Chevron in a research note on Wednesday, January 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $128.84.

Shares of Chevron (CVX) traded down $5.96 during midday trading on Monday, hitting $112.62. The stock had a trading volume of 15,155,671 shares, compared to its average volume of 6,936,461. The company has a market capitalization of $212,790.00, a price-to-earnings ratio of 23.28, a P/E/G ratio of 2.29 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. Chevron has a one year low of $102.55 and a one year high of $133.88.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.54). The firm had revenue of $37.62 billion for the quarter, compared to the consensus estimate of $38.43 billion. Chevron had a return on equity of 5.23% and a net margin of 6.49%. Chevron’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS. research analysts predict that Chevron will post 6.47 earnings per share for the current fiscal year.

In related news, CFO Patricia E. Yarrington sold 116,857 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $115.29, for a total transaction of $13,472,443.53. Following the sale, the chief financial officer now owns 39,506 shares of the company’s stock, valued at approximately $4,554,646.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the firm’s stock in a transaction on 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 directly owns 1,229 shares in the company, valued at approximately $145,022. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,500 shares of company stock worth $33,480,822. Company insiders own 0.38% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Shine Investment Advisory Services Inc. bought a new position in Chevron during the 2nd quarter worth $106,000. Winfield Associates Inc. raised its position in Chevron by 5.1% during the 2nd 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 last quarter. Acrospire Investment Management LLC raised its position in shares of Chevron by 133.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after acquiring an additional 800 shares in the last quarter. Accurate Investment Solutions Inc. raised its position in shares of Chevron by 59.1% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after acquiring an additional 502 shares in the last quarter. Finally, Ffcm LLC raised its position in shares of Chevron by 121.1% in the 2nd quarter. Ffcm LLC now owns 1,501 shares of the oil and gas company’s stock worth $160,000 after acquiring an additional 822 shares in the last quarter. 64.06% of the stock is currently owned by 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.