Chevron (NYSE:CVX) Price Target Raised to $156.00

Chevron (NYSE:CVX - Get Free Report) had its target price increased by research analysts at Barclays from $152.00 to $156.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the oil and gas company's stock. Barclays's price objective would indicate a potential upside of 5.83% from the stock's current price.

Several other research analysts also recently commented on the company. Scotiabank downgraded Chevron from a "sector outperform" rating to a "sector perform" rating and cut their target price for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. UBS Group lowered their price target on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. HSBC cut Chevron from a "buy" rating to a "hold" rating and lowered their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Piper Sandler raised their price target on Chevron from $162.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $160.65.

Chevron Price Performance

NYSE CVX traded down $0.97 during trading hours on Monday, hitting $147.40. The company had a trading volume of 9,459,288 shares, compared to its average volume of 8,286,466. Chevron has a 52 week low of $132.04 and a 52 week high of $168.96. The firm has a 50 day simple moving average of $141.31 and a 200 day simple moving average of $148.18. 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 $257.42 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.51 and a beta of 0.83.

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. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same quarter last year, the company earned $2.93 EPS. The firm's revenue was down 2.3% compared to the same quarter last year. Equities research analysts expect that Chevron will post 10.79 earnings per share for the current year.

Institutional Investors Weigh In On Chevron

A number of large investors have recently made changes to their positions in CVX. Eagle Capital Management LLC grew its position in shares of Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after buying an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after purchasing an additional 2,641 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of Chevron by 59.5% during the fourth quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company's stock valued at $847,000 after purchasing an additional 2,182 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Chevron during the fourth quarter valued at approximately $1,769,000. Finally, Kendall Capital Management boosted its position in shares of Chevron by 18.5% during the fourth quarter. Kendall Capital Management now owns 2,118 shares of the oil and gas company's stock valued at $307,000 after purchasing an additional 330 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.