Chevron (NYSE:CVX) PT Lowered to $189.00

Chevron (NYSE:CVX) had its target price lowered by research analysts at UBS Group from $192.00 to $189.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the oil and gas company’s stock. UBS Group’s target price points to a potential upside of 31.57% from the stock’s previous close.

CVX has been the subject of several other research reports. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Barclays reduced their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday. Royal Bank of Canada dropped their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Finally, Truist Financial decreased their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $182.41.

Chevron Stock Up 0.2 %

Shares of Chevron stock traded up $0.24 on Wednesday, reaching $143.65. 908,074 shares of the company were exchanged, compared to its average volume of 7,729,697. The stock’s 50 day moving average price is $148.69 and its 200-day moving average price is $154.61. The company has a market cap of $262.72 billion, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. Chevron has a 1-year low of $135.37 and a 1-year high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.08 earnings per share. As a group, equities analysts forecast that Chevron will post 11.57 EPS for the current year.

Hedge Funds Weigh In On Chevron

Hedge funds have recently bought and sold shares of the company. American Capital Advisory LLC lifted its holdings in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares during the period. Frank Rimerman Advisors LLC bought a new position in shares of Chevron during the fourth quarter valued at about $30,000. Anfield Capital Management LLC boosted its stake in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC boosted its stake in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Finally, Cooksen Wealth LLC bought a new position in Chevron during the fourth quarter valued at $40,000. 72.42% of the stock is owned by 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.