Chevron (NYSE:CVX) Stock Price Expected to Rise, Barclays Analyst Says

Chevron (NYSE:CVX - Get Free Report) had its price target lifted by investment analysts at Barclays from $152.00 to $156.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the oil and gas company's stock. Barclays's target price points to a potential upside of 6.94% from the company's previous close.

A number of other research analysts have also recently commented on the company. TD Cowen lowered their target price on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. BNP Paribas cut Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Redburn Atlantic reiterated a "sell" rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and dropped their price target for the stock from $176.00 to $158.00 in a research note on Tuesday, May 13th. Finally, Piper Sandler boosted their price target on Chevron from $162.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Chevron presently has a consensus rating of "Hold" and an average target price of $160.65.

Chevron Price Performance

CVX stock traded down $2.49 during midday trading on Monday, reaching $145.88. The company had a trading volume of 4,758,639 shares, compared to its average volume of 8,268,794. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82. Chevron has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a market capitalization of $254.76 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83. The stock has a 50 day moving average price of $141.16 and a 200-day moving average price of $148.15.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period last year, the company earned $2.93 earnings per share. The business's revenue was down 2.3% on a year-over-year basis. Equities research analysts expect that Chevron will post 10.79 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CVX. Berkeley Capital Partners LLC boosted its stake in Chevron by 0.4% during the 4th quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock valued at $2,572,000 after purchasing an additional 67 shares during the period. CBIZ Investment Advisory Services LLC grew its stake in Chevron by 6.1% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company's stock valued at $171,000 after acquiring an additional 68 shares in the last quarter. Greenfield Savings Bank boosted its stake in shares of Chevron by 0.6% during the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company's stock valued at $1,663,000 after buying an additional 68 shares during the period. CoreCap Advisors LLC lifted its holdings in shares of Chevron by 0.3% during the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock valued at $4,091,000 after buying an additional 71 shares during the last quarter. Finally, GDS Wealth Management increased its stake in shares of Chevron by 4.4% during the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company's stock worth $285,000 after purchasing an additional 72 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.