Chevron (NYSE:CVX) Stock Rating Reaffirmed by Argus

Chevron (NYSE:CVX)‘s stock had its “buy” rating reiterated by research analysts at Argus in a research report issued to clients and investors on Thursday. They presently have a target price on the oil and gas company’s stock, down from their previous target price of .

Several other research firms have also issued reports on CVX. Berenberg Bank restated a “hold” rating and set a $128.00 price target on shares of Chevron in a report on Thursday, December 12th. Royal Bank of Canada restated a “hold” rating on shares of Chevron in a report on Wednesday, March 18th. UBS Group lowered their price target on shares of Chevron from $130.00 to $100.00 and set a “buy” rating for the company in a report on Monday, March 16th. ValuEngine upgraded shares of Chevron from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Citigroup lowered their price target on shares of Chevron from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, March 4th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $120.21.

NYSE CVX traded up $7.11 during trading hours on Thursday, reaching $76.38. The company’s stock had a trading volume of 24,126,855 shares, compared to its average volume of 12,396,692. The firm has a fifty day simple moving average of $92.84 and a 200-day simple moving average of $111.47. The stock has a market cap of $125.07 billion, a P/E ratio of 50.58, a P/E/G ratio of 13.74 and a beta of 1.04. Chevron has a 52 week low of $51.60 and a 52 week high of $127.34. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.07 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.02. Chevron had a net margin of 2.00% and a return on equity of 8.29%. The firm had revenue of $36.35 billion during the quarter, compared to analyst estimates of $38.98 billion. During the same quarter last year, the business earned $1.95 EPS. The company’s revenue was down 14.2% compared to the same quarter last year. On average, research analysts expect that Chevron will post 0.97 earnings per share for the current year.

In related news, CEO Michael K. Wirth sold 67,500 shares of Chevron stock in a transaction on Monday, January 6th. The shares were sold at an average price of $121.07, for a total value of $8,172,225.00. Following the completion of the sale, the chief executive officer now owns 33,750 shares of the company’s stock, valued at approximately $4,086,112.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Frank purchased 400 shares of Chevron stock in a transaction that occurred on Monday, February 24th. The stock was acquired at an average cost of $104.61 per share, with a total value of $41,844.00. Following the transaction, the director now owns 5,114 shares in the company, valued at approximately $534,975.54. The disclosure for this purchase can be found here. Company insiders own 0.31% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pantheon Investment Group LLC purchased a new position in Chevron during the 4th quarter worth $812,000. American Institute for Advanced Investment Management LLP purchased a new position in Chevron during the 4th quarter worth $451,000. HighMark Wealth Management LLC purchased a new position in Chevron during the 4th quarter worth $58,000. Sowa Financial Group Inc. purchased a new position in Chevron during the 4th quarter worth $73,000. Finally, Quadrant Capital Group LLC boosted its holdings in Chevron by 6.7% during the 4th quarter. Quadrant Capital Group LLC now owns 18,522 shares of the oil and gas company’s stock worth $2,198,000 after acquiring an additional 1,159 shares during the last quarter. 66.85% of the stock is owned by institutional investors and hedge funds.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Analyst Recommendations for Chevron (NYSE:CVX)

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