Chevron's (CVX) Hold (C) Rating Reiterated at Weiss Ratings

Key Points

• Chevron's stock has been reaffirmed with a "hold (C)" rating by Weiss Ratings, aligning with a consensus target price of $165.25 based on multiple analysts' assessments.
• Recently, Chevron's stock price has been fluctuating, experiencing a slight decrease of 0.6%, settling at $155.63 during trading.
• In insider trading, Director John B. Hess sold 375,000 shares for approximately $59.36 million, marking a significant reduction in ownership of the stock.

Chevron (NYSE:CVX - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Other analysts have also recently issued research reports about the stock. Melius began coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price on the stock. TD Cowen raised their target price on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a report on Monday, August 4th. Piper Sandler increased their price target on shares of Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. Finally, Morgan Stanley began coverage on shares of Chevron in a research note on Monday, August 4th. They issued an "overweight" rating and a $174.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $165.25.

Chevron Stock Down 0.6%

NYSE:CVX traded down $0.93 during mid-day trading on Friday, hitting $155.63. The stock had a trading volume of 4,975,667 shares, compared to its average volume of 6,682,107. The stock has a 50-day simple moving average of $156.04 and a two-hundred day simple moving average of $148.38. The company has a market capitalization of $268.92 billion, a PE ratio of 20.03, a PEG ratio of 4.45 and a beta of 0.84. Chevron has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm's revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.55 earnings per share. On average, equities research analysts anticipate that Chevron will post 10.79 EPS for the current year.

Insider Buying and Selling

In other news, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Hedge Funds Weigh In On Chevron

A number of hedge funds have recently modified their holdings of CVX. GAMMA Investing LLC grew its position in Chevron by 27.3% in the 1st quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company's stock valued at $5,408,000 after buying an additional 6,928 shares during the last quarter. Goldstein Advisors LLC purchased a new position in Chevron in the 1st quarter valued at $202,000. KPP Advisory Services LLC grew its position in Chevron by 27.6% in the 1st quarter. KPP Advisory Services LLC now owns 3,617 shares of the oil and gas company's stock valued at $605,000 after buying an additional 782 shares during the last quarter. Balefire LLC purchased a new position in Chevron in the 1st quarter valued at $314,000. Finally, Chung Wu Investment Group LLC purchased a new position in Chevron in the 1st quarter valued at $485,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Company Profile

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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