Chevron (NYSE:CVX) Price Target Raised to $186.00

Key Points

• UBS Group has raised Chevron's price target from $177.00 to $186.00, signifying a potential upside of 22.65% from the company's previous close.
• Chevron recently reported earnings of $1.77 per share, beating analysts' expectations, but its revenue was down 12.4% year-over-year.
• Currently, Chevron holds an average rating of "Hold" with an average target price of $164.11, with analysts divided into sell, hold, and buy recommendations.

Chevron (NYSE:CVX - Get Free Report) had its target price hoisted by stock analysts at UBS Group from $177.00 to $186.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the oil and gas company's stock. UBS Group's price objective indicates a potential upside of 22.65% from the company's previous close.

CVX has been the topic of several other research reports. Scotiabank restated a "sector perform" rating and issued a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. BNP Paribas lowered Chevron to a "cautious" rating in a research note on Tuesday, April 15th. TD Cowen lifted their price objective on Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a report on Monday. Morgan Stanley started coverage on Chevron in a report on Monday. They set an "overweight" rating and a $174.00 price objective for the company. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $178.00 target price on shares of Chevron in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $164.11.

Chevron Price Performance

Shares of NYSE CVX opened at $151.65 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The company's 50-day moving average price is $146.86 and its 200 day moving average price is $148.73. Chevron has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market cap of $264.85 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 2.31 and a beta of 0.87.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.80% and a net margin of 7.02%. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the previous year, the business earned $2.55 EPS. The business's quarterly revenue was down 12.4% on a year-over-year basis. As a group, research analysts forecast that Chevron will post 10.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CVX. Kingstone Capital Partners Texas LLC increased its position in Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company's stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock worth $5,592,263,000 after purchasing an additional 1,574,464 shares in the last quarter. Northern Trust Corp lifted its stake in Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after buying an additional 1,394,091 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Chevron by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 16,718,838 shares of the oil and gas company's stock worth $2,421,564,000 after buying an additional 211,023 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Chevron by 5.5% during the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company's stock worth $2,652,437,000 after acquiring an additional 827,851 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

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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