Chevron (NYSE:CVX) Price Target Increased to $160.00 by Analysts at TD Cowen

Chevron (NYSE:CVX - Get Free Report) had its price target increased by investment analysts at TD Cowen from $155.00 to $160.00 in a research report issued on Monday, Marketbeat reports. The brokerage currently has a "hold" rating on the oil and gas company's stock. TD Cowen's price objective suggests a potential downside of 3.81% from the company's current price.

CVX has been the subject of a number of other reports. DZ Bank cut shares of Chevron from a "buy" rating to a "hold" rating and set a $160.00 target price for the company. in a research report on Tuesday, February 6th. Truist Financial cut their price objective on shares of Chevron from $168.00 to $156.00 and set a "hold" rating for the company in a report on Friday, April 5th. Piper Sandler boosted their target price on Chevron from $180.00 to $204.00 and gave the stock an "overweight" rating in a report on Thursday, April 18th. UBS Group upped their price target on Chevron from $185.00 to $197.00 and gave the company a "buy" rating in a research report on Tuesday, April 9th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Chevron in a research report on Monday, April 1st. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $185.25.

Chevron Price Performance

Chevron stock traded up $0.45 during midday trading on Monday, reaching $166.34. The company had a trading volume of 6,365,830 shares, compared to its average volume of 8,454,267. Chevron has a 12-month low of $139.62 and a 12-month high of $171.70. The firm's fifty day simple moving average is $156.81 and its 200-day simple moving average is $151.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The company has a market capitalization of $308.94 billion, a P/E ratio of 15.30, a P/E/G ratio of 2.44 and a beta of 1.12.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The firm had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same period in the previous year, the company posted $3.55 earnings per share. The business's revenue was down 4.1% on a year-over-year basis. As a group, equities analysts anticipate that Chevron will post 13.58 EPS for the current year.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the company's stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares of the company's stock, valued at $44,184.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chevron

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in Chevron during the 4th quarter worth $2,902,007,000. Berkshire Hathaway Inc grew its holdings in shares of Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company's stock worth $18,808,081,000 after buying an additional 15,845,037 shares during the last quarter. Capital World Investors grew its holdings in shares of Chevron by 43.5% during the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company's stock worth $2,314,070,000 after buying an additional 4,700,289 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Chevron by 73,888.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company's stock valued at $686,554,000 after acquiring an additional 4,596,584 shares during the period. Finally, International Assets Investment Management LLC raised its stake in Chevron by 15,548.2% during the 4th quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company's stock valued at $4,776,720,000 after acquiring an additional 3,181,946 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.