Chevron (NYSE:CVX) Price Target Lowered to $158.00 at Barclays

Key Points

• Barclays has lowered Chevron's price target from $160.00 to $158.00, maintaining an "equal weight" rating, which suggests a potential upside of 2.60% from the current stock price.
• The company has recently seen varied analyst recommendations, with Bank of America increasing its target from $170.00 to $185.00 and UBS Group raising it from $186.00 to $197.00, indicating a generally positive outlook from several analysts.
• Chevron's recent quarterly earnings reported a net margin of 7.02% and revenue of $44.82 billion, showing a year-over-year decline of 12.4%, with an earnings per share (EPS) of $1.77 exceeding analyst expectations.

Chevron (NYSE:CVX - Get Free Report) had its target price reduced by Barclays from $160.00 to $158.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the oil and gas company's stock. Barclays's price objective would indicate a potential upside of 2.60% from the company's current price.

Other analysts also recently issued reports about the company. Bank of America boosted their target price on Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Morgan Stanley initiated coverage on Chevron in a report on Monday, August 4th. They issued an "overweight" rating and a $174.00 price objective for the company. Melius initiated coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 target price on the stock. Mizuho reduced their price target on shares of Chevron from $192.00 to $191.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Finally, UBS Group increased their price target on shares of Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $165.15.

Chevron Stock Performance

Shares of Chevron stock opened at $153.99 on Tuesday. The firm's 50 day moving average is $156.19 and its two-hundred day moving average is $148.80. Chevron has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $266.09 billion, a P/E ratio of 19.82, a P/E/G ratio of 1.99 and a beta of 0.84.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period last year, the business earned $2.55 EPS. Chevron's revenue for the quarter was down 12.4% compared to the same quarter last year. Research analysts forecast that Chevron will post 10.79 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chevron

Large investors have recently made changes to their positions in the stock. CCG Wealth Management LLC lifted its holdings in shares of Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after purchasing an additional 145 shares in the last quarter. Ignite Planners LLC lifted its stake in Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after buying an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. grew its holdings in Chevron by 9.1% during the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after buying an additional 495 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Chevron by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock worth $24,075,000 after buying an additional 675 shares in the last quarter. Finally, Capital Advisors Inc. OK increased its position in Chevron by 0.3% during the first quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company's stock worth $95,231,000 after buying an additional 1,755 shares in the last quarter. Hedge funds and other 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.

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