Chevron (NYSE:CVX) Price Target Lowered to $210.00 at Morgan Stanley

Key Points

• Morgan Stanley cut Chevron’s price target from $214 to $210 while keeping an overweight rating, implying about 23.95% upside from the prior close.
• Despite the slight target reduction, analyst sentiment remains constructive overall: Chevron has a Moderate Buy consensus with a market-wide average price target of $205.52.
• Chevron’s shares fell 1.0% to $169.43, but the company continues to attract attention for its recent earnings beat and growing interest tied to AI/data-center power opportunities.

Chevron (NYSE:CVX - Get Free Report) had its price objective lowered by equities research analysts at Morgan Stanley from $214.00 to $210.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the oil and gas company's stock. Morgan Stanley's price target points to a potential upside of 23.95% from the stock's previous close.

A number of other research analysts have also weighed in on CVX. Sanford C. Bernstein dropped their price target on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating on the stock in a research report on Monday, May 11th. Mizuho increased their price objective on shares of Chevron from $225.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Scotiabank lifted their target price on shares of Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Weiss Ratings downgraded Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 2nd. Finally, Tudor Pickering raised Chevron from a "hold" rating to a "buy" rating and set a $225.00 price target for the company in a research report on Thursday, April 9th. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $205.52.

Chevron Stock Down 1.0%

NYSE CVX traded down $1.63 during trading hours on Monday, hitting $169.43. The company's stock had a trading volume of 3,205,891 shares, compared to its average volume of 11,616,229. The company has a market capitalization of $337.43 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 0.56 and a beta of 0.48. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron has a 52 week low of $142.40 and a 52 week high of $214.71. The company's 50-day simple moving average is $185.10 and its two-hundred day simple moving average is $180.00.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.Chevron's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.18 earnings per share. Research analysts anticipate that Chevron will post 15.88 EPS for the current fiscal year.

Insider Activity

In other news, Director John B. Hess sold 380,000 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares of the company's stock, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Chevron

Institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Advisory LLC boosted its position in shares of Chevron by 0.9% in the first quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company's stock valued at $1,164,000 after acquiring an additional 52 shares during the period. Compton Financial Group LLC increased its holdings in Chevron by 1.9% during the 1st quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company's stock worth $609,000 after acquiring an additional 56 shares during the period. Quantum Portfolio Management LLC lifted its stake in Chevron by 2.7% in the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company's stock worth $435,000 after purchasing an additional 56 shares in the last quarter. Wealthspire Retirement LLC boosted its holdings in Chevron by 0.9% in the 1st quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company's stock valued at $1,351,000 after purchasing an additional 56 shares during the period. Finally, D.B. Root & Company LLC grew its position in shares of Chevron by 1.0% during the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock valued at $846,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expanding its data-center power strategy beyond Project Kilby, positioning itself to benefit from rising AI-driven electricity demand and new natural gas-powered infrastructure opportunities. Chevron Expands Data Center Power Strategy Beyond Project Kilby
• Positive Sentiment: Chevron secured Texas Pacific Land support for Project Kilby, a reported $7 billion initiative tied to Microsoft, which suggests progress on a potentially large long-term growth project. Chevron Corporation (CVX) Secures Texas Pacific Land Support on Microsoft’s Project Kilby
• Positive Sentiment: Chevron appears to have moved ahead of ExxonMobil in capturing a major opportunity, which could be viewed as a competitive win for future growth and investor sentiment. Chevron Just Jumped Ahead of ExxonMobil in Capturing This Massive Opportunity
• Neutral Sentiment: Commentary from recent articles highlights that Chevron’s shares remain heavily influenced by Middle East geopolitics and oil-price swings, keeping trading volatile and sentiment-driven rather than purely fundamentals-driven. Is Chevron Impossible to Ignore Right Now? Here's What to Do With It.
• Neutral Sentiment: Another piece notes Chevron’s CFO said there is no quick fix for lowering gas prices, reinforcing the idea that near-term results may continue to depend on broader market conditions. No Quick Fix to Lowering Gas Prices Despite Trump's Protests, Chevron Exec Says

Chevron Company Profile

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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