Chevron (NYSE:CVX) Price Target Raised to $160.00 at Scotiabank

Chevron (NYSE:CVX - Get Free Report) had its price target raised by research analysts at Scotiabank from $143.00 to $160.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "sector perform" rating on the oil and gas company's stock. Scotiabank's price objective indicates a potential upside of 3.08% from the company's current price.

Several other equities analysts also recently weighed in on CVX. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and dropped their target price for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Redburn Atlantic reissued a "sell" rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Barclays increased their target price on Chevron from $152.00 to $156.00 and gave the company an "equal weight" rating in a research note on Monday. Mizuho reduced their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Finally, TD Cowen cut their target price on Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus target price of $161.65.

Chevron Stock Performance

CVX traded up $1.05 during trading on Friday, hitting $155.22. The stock had a trading volume of 2,744,059 shares, compared to its average volume of 8,961,217. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a market capitalization of $271.07 billion, a P/E ratio of 17.74, a PEG ratio of 2.59 and a beta of 0.83. The company's 50-day moving average price is $142.28 and its 200 day moving average price is $148.33. Chevron has a twelve month low of $132.04 and a twelve month high of $168.96.

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

Institutional Investors Weigh In On Chevron

Hedge funds have recently added to or reduced their stakes in the business. IMG Wealth Management Inc. acquired a new position in Chevron during the 4th quarter worth about $25,000. Life Planning Partners Inc acquired a new position in Chevron during the 4th quarter worth about $25,000. Harvest Fund Management Co. Ltd lifted its holdings in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after buying an additional 122 shares during the period. Mizuho Securities Co. Ltd. acquired a new position in Chevron during the 4th quarter worth about $29,000. Finally, 10Elms LLP acquired a new position in Chevron during the 4th quarter worth about $29,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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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