Sanford C. Bernstein Issues Positive Forecast for Chevron (NYSE:CVX) Stock Price

Key Points

• Sanford C. Bernstein raised Chevron’s price target from $204 to $209 while maintaining a “market perform” rating, implying 7.63% upside from the prior close. Analysts overall rate the stock “Moderate Buy,” with an average target of $207.26.
• Chevron’s latest quarterly results exceeded expectations, with EPS of $6.06 versus $5.55 expected and revenue of $67.20 billion, up 57.4% year over year.
• Shares recently fell 1.3% to $194.18, while oil-price volatility remains a key risk: potential U.S.-Iran negotiations could pressure crude prices and Chevron’s upstream earnings.

Chevron (NYSE:CVX - Get Free Report) had its target price upped by analysts at Sanford C. Bernstein from $204.00 to $209.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "market perform" rating on the oil and gas company's stock. Sanford C. Bernstein's price target suggests a potential upside of 7.63% from the company's previous close.

Several other brokerages also recently commented on CVX. Wells Fargo & Company increased their price objective on shares of Chevron from $204.00 to $222.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. BNP Paribas Exane raised shares of Chevron from a "neutral" rating to an "outperform" rating and set a $174.00 target price for the company in a report on Friday, April 17th. The Goldman Sachs Group reiterated a "buy" rating and issued a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Mizuho set a $224.00 price target on shares of Chevron in a report on Monday. Finally, Morgan Stanley reduced their price target on shares of Chevron from $214.00 to $210.00 and set an "overweight" rating for the company in a research report on Monday, June 29th. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Chevron presently has a consensus rating of "Moderate Buy" and an average price target of $207.26.

Chevron Stock Down 1.3%

Chevron stock traded down $2.65 during mid-day trading on Monday, hitting $194.18. The company had a trading volume of 2,243,558 shares, compared to its average volume of 11,059,142. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock's 50 day moving average price is $181.95 and its two-hundred day moving average price is $185.12. Chevron has a 12 month low of $146.49 and a 12 month high of $214.71. The company has a market capitalization of $386.72 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 0.61 and a beta of 0.50.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping analysts' consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.14% and a net margin of 9.57%.The firm had revenue of $67.20 billion for the quarter, compared to analysts' expectations of $62.72 billion. During the same period in the prior year, the firm posted $1.77 earnings per share. The company's quarterly revenue was up 57.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron will post 15.64 earnings per share for the current fiscal year.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 380,000 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director owned 278,045 shares of the company's stock, valued at $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.56% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVX. Midwest Capital Advisors LLC purchased a new position in shares of Chevron in the 1st quarter worth $25,000. Core Wealth Advisors LLC bought a new position in Chevron in the fourth quarter valued at about $26,000. Phillip James Consulting Co. bought a new position in Chevron in the fourth quarter valued at about $26,000. Basso Capital Management L.P. purchased a new position in Chevron in the fourth quarter worth about $27,000. Finally, Karpus Management Inc. bought a new stake in shares of Chevron during the 4th quarter valued at about $27,000. Institutional investors own 72.42% of the company's stock.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Oil companies ended July with more cash than expected as crude prices rose roughly 25% during the month amid the U.S.-Iran conflict. Chevron could benefit through stronger upstream cash flow, although management may prioritize debt reduction and balance-sheet strengthening. Oil Companies Have Raked in Massive Profits During the Iran War but Their Future Will Be Expensive
• Positive Sentiment: Chevron is expanding its North American base-oils distribution network through agreements with HF Sinclair Lubricants & Specialties and Renkert Oil. The move should improve customer access and broaden the company’s downstream distribution capabilities. Chevron Strengthens North American Base Oils Distribution Network
• Positive Sentiment: Barclays raised its Chevron price target from $213 to $216 while maintaining an “equal weight” rating, indicating modest additional valuation potential but no bullish rating change. Barclays Raises Chevron Price Target
• Positive Sentiment: Recent earnings showed substantial operating momentum: Chevron reported $6.06 in quarterly EPS versus the $5.55 consensus, with revenue of $67.20 billion. Profit reached a multiyear high, strengthening the case for its dividend and shareholder-return strategy. Chevron Stock Rises as Profit Hits Six-Year High
• Neutral Sentiment: Chevron warned that refining-capacity shortages linked to conflicts in Russia and the Middle East could keep gasoline and other fuel prices elevated even if crude prices decline. This supports refining margins but could also increase political and consumer backlash. Chevron Warns Fuel Prices Could Stay High
• Negative Sentiment: Reports that U.S.-Iran negotiations may begin reduced fears of prolonged supply disruptions and triggered a sharp decline in crude prices. Lower oil prices are a direct earnings and cash-flow headwind for Chevron’s exploration and production business. Oil Stocks Drop as Iran Talks Trigger Crude Selloff
• Negative Sentiment: Berkshire Hathaway reportedly cut its Chevron stake by 35% under Greg Abel. Although the sale may reflect portfolio rebalancing rather than a fundamental judgment, it removes a high-profile source of investor support and may weigh on sentiment. Berkshire Hathaway Reduces Chevron Stake

About Chevron

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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