Chevron (NYSE:CVX) Price Target Raised to $244.00

Key Points

• Barclays raised Chevron’s price target from $208 to $244 while maintaining an “equal weight” rating, implying 6.88% upside. Overall analyst sentiment remains a “Moderate Buy,” with an average target of $217.21.
• Chevron reported strong quarterly results, earning $5.28 per share versus the $4.87 consensus and generating $65.24 billion in revenue, up 36.3% year over year.
• Shares traded at $228.29, near their 52-week high, while insiders sold approximately $78.3 million of stock over the past 90 days—factors that may increase valuation and profit-taking concerns.

Chevron (NYSE:CVX - Get Free Report) had its price objective boosted by investment analysts at Barclays from $208.00 to $244.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an "equal weight" rating on the oil and gas company's stock. Barclays's price objective would suggest a potential upside of 6.88% from the stock's current price.

Several other research analysts have also recently issued reports on CVX. UBS Group increased their price objective on Chevron from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, October 8th. Jefferies Financial Group boosted their target price on shares of Chevron from $216.00 to $233.00 and gave the stock a "buy" rating in a research report on Monday, August 17th. Wall Street Zen upgraded shares of Chevron from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Bank of America upped their price target on shares of Chevron from $210.00 to $227.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of Chevron from a "buy (b)" rating to a "buy (b+)" rating in a report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $217.21.

Chevron Stock Performance

NYSE CVX traded down $7.23 during trading hours on Monday, hitting $228.29. 5,895,598 shares of the stock were exchanged, compared to its average volume of 10,271,211. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The company has a market cap of $451.05 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 0.56 and a beta of 0.47. Chevron has a 12-month low of $146.49 and a 12-month high of $236.48. The stock has a 50-day moving average of $213.16 and a 200 day moving average of $193.07.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, beating analysts' consensus estimates of $4.87 by $0.41. Chevron had a return on equity of 14.64% and a net margin of 11.56%. The company had revenue of $65.24 billion for the quarter, compared to analyst estimates of $61.82 billion. During the same quarter in the previous year, the company earned $1.85 EPS. The firm's revenue for the quarter was up 36.3% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron will post 18.15 earnings per share for the current year.

Insider Activity at Chevron

In other Chevron news, insider Andrew Walz sold 16,800 shares of the business's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the sale, the insider directly owned 14 shares in the company, valued at approximately $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael K. Wirth sold 317,100 shares of the company's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the sale, the chief executive officer directly owned 26,308 shares in the company, valued at $5,273,701.68. This trade represents a 92.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 385,017 shares of company stock valued at $78,253,704 in the last ninety days. Corporate insiders own 0.56% of the company's stock.

Institutional Investors Weigh In On Chevron

Institutional investors and hedge funds have recently made changes to their positions in the business. Main Street Group LTD purchased a new stake in shares of Chevron in the first quarter valued at about $28,000. Kilter Group LLC purchased a new position in shares of Chevron during the 2nd quarter worth approximately $28,000. Principia Wealth Advisory LLC increased its stake in shares of Chevron by 49.6% during the 2nd quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 60 shares in the last quarter. Strategic Wealth Advisors LLC acquired a new position in shares of Chevron during the 2nd quarter worth approximately $33,000. Finally, Burk Holdings LLC acquired a new position in shares of Chevron during the 2nd quarter worth approximately $42,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Strong third-quarter results: Chevron exceeded expectations with adjusted earnings of $5.28 per share versus the $4.87 consensus, while revenue rose 36.3% year over year to $65.24 billion. Record U.S. refinery throughput and approximately $4.93 billion in refining profit were major contributors. CVX Q3 Earnings Call Highlights Venezuela Growth and Refining Gains
• Positive Sentiment: Growth and cash-flow outlook: Management highlighted sustained U.S. upstream production, disciplined capital allocation, AI-supported reliability improvements and plans to potentially double Venezuelan production to 600,000 barrels per day. Analysts at Morgan Stanley raised their free-cash-flow outlook, while other analysts increased price targets following the earnings beat. Chevron Analysts Raise Their Forecasts After Better-Than-Expected Q3 Earnings
• Positive Sentiment: Institutional demand and income appeal: ETFs purchased about $64 million of CVX, with 44 funds buying versus 18 selling. The Invesco S&P Ultra Dividend Revenue ETF also made Chevron one of its largest purchases. Chevron declared a quarterly dividend of $1.78 per share, reinforcing its appeal to income-focused investors. ETFs Are Buying Chevron (CVX) on Thursday
• Neutral Sentiment: Leadership transition: Siva Barnwell Adams will become corporate secretary and chief governance officer on January 1, 2027, succeeding an executive who is retiring. The change is unlikely to materially affect near-term earnings. Siva Barnwell Adams Named Corporate Secretary and Chief Governance Officer
• Negative Sentiment: Valuation and execution risks: CVX is near a 52-week high after a strong run, increasing the possibility of profit-taking if investors believe the earnings beat is already reflected in the price. Chevron is also raising exploration spending by 50% and committing substantial capital to Venezuela and other frontier regions, which could increase costs, geopolitical exposure and long-term execution risk. Chevron Raises Exploration Spending By 50%

Chevron Company Profile

Chevron Corporation NYSE: CVX is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.

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