Chevron Co. (NYSE:CVX) was upgraded by stock analysts at Barclays PLC to an “overweight” rating in a research report issued on Wednesday.
Several other analysts have also issued reports on CVX. Jefferies Group LLC reiterated a “buy” rating and issued a $130.00 target price on shares of Chevron in a research report on Tuesday, October 3rd. Piper Jaffray Companies reiterated a “buy” rating on shares of Chevron in a research report on Thursday, August 3rd. Wells Fargo & Company reiterated a “market perform” rating and issued a $108.00 target price (up previously from $100.00) on shares of Chevron in a research report on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Chevron from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, BNP Paribas upgraded shares of Chevron from an “underperform” rating to a “neutral” rating and set a $105.00 target price on the stock in a research report on Monday, August 7th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Chevron currently has a consensus rating of “Buy” and a consensus price target of $117.07.
Chevron (NYSE:CVX) opened at 118.80 on Wednesday. Chevron has a 12-month low of $99.61 and a 12-month high of $119.82. The company has a market cap of $225.13 billion, a P/E ratio of 38.52 and a beta of 1.24. The firm’s 50 day moving average is $113.57 and its 200 day moving average is $108.06.
Chevron (NYSE:CVX) last announced its earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. Chevron had a net margin of 4.47% and a return on equity of 3.97%. The business had revenue of $34.48 billion for the quarter, compared to analyst estimates of $32.77 billion. During the same quarter last year, the business earned ($0.78) earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities research analysts anticipate that Chevron will post $3.93 EPS for the current fiscal year.
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In other Chevron news, Director Linnet F. Deily sold 2,312 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total value of $248,262.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Patricia E. Yarrington sold 39,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the transaction, the chief financial officer now owns 43,838 shares in the company, valued at $4,866,018. The disclosure for this sale can be found here. Insiders sold a total of 72,312 shares of company stock worth $8,008,343 over the last quarter. 0.38% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of CVX. Shine Investment Advisory Services Inc. acquired a new position in Chevron in the 2nd quarter valued at about $106,000. Thompson Davis & CO. Inc. boosted its holdings in Chevron by 20.0% in the 1st quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after purchasing an additional 191 shares during the last quarter. Winfield Associates Inc. boosted its holdings in Chevron by 5.1% in the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after purchasing an additional 63 shares during the last quarter. Daiwa SB Investments Ltd. boosted its holdings in Chevron by 438.5% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 1,140 shares during the last quarter. Finally, Acrospire Investment Management LLC boosted its holdings in 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 valued at $146,000 after purchasing an additional 800 shares during the last quarter. Institutional investors own 62.73% of the company’s stock.
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.
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