Chevron (NYSE:CVX) Stock Price Expected to Rise, Piper Sandler Analyst Says

Chevron (NYSE:CVX - Get Free Report) had its price target upped by Piper Sandler from $162.00 to $164.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the oil and gas company's stock. Piper Sandler's target price suggests a potential upside of 10.64% from the stock's previous close.

Several other brokerages have also commented on CVX. Mizuho lowered their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $165.00 target price (up from $164.00) on shares of Chevron in a research report on Thursday, June 26th. Finally, UBS Group lowered their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $160.41.

Chevron Trading Up 0.2%

CVX traded up $0.25 during midday trading on Wednesday, reaching $148.23. 5,173,309 shares of the company's stock traded hands, compared to its average volume of 8,253,069. Chevron has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. The firm has a fifty day moving average of $140.78 and a two-hundred day moving average of $148.08. The stock has a market capitalization of $258.86 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 2.48 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. During the same quarter in the previous year, the business posted $2.93 earnings per share. The firm's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities analysts anticipate that Chevron will post 10.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chevron

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Eagle Capital Management LLC increased its position in Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after acquiring an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after purchasing an additional 2,641 shares during the last quarter. Carrera Capital Advisors grew its stake in shares of Chevron by 50.6% during the 4th quarter. Carrera Capital Advisors now owns 2,533 shares of the oil and gas company's stock valued at $367,000 after purchasing an additional 851 shares during the period. Triad Wealth Partners LLC purchased a new stake in shares of Chevron during the 4th quarter valued at about $565,000. Finally, Academy Capital Management bought a new position in shares of Chevron in the 4th quarter worth approximately $444,000. Institutional investors own 72.42% of the company's stock.

About Chevron

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