Chevron (NYSE:CVX) Price Target Cut to $168.00

Chevron (NYSE:CVX) had its price target reduced by investment analysts at Barclays from $185.00 to $168.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price objective would suggest a potential upside of 11.46% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Truist Financial lowered their price target on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Wells Fargo & Company decreased their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Mizuho decreased their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Chevron Price Performance

Chevron stock opened at $150.73 on Thursday. Chevron has a one year low of $135.37 and a one year high of $170.17. The company has a market cap of $277.79 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The business has a fifty day moving average of $145.99 and a two-hundred day moving average of $154.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business 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 firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.08 EPS. As a group, analysts predict that Chevron will post 11.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chevron

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Capital Advisory LLC lifted its holdings in shares of Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Chevron during the 4th quarter valued at about $30,000. Anfield Capital Management LLC lifted its holdings in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC lifted its holdings in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Finally, Cooksen Wealth LLC bought a new position in shares of Chevron during the 4th quarter valued at about $40,000. Institutional investors own 72.42% of the company’s stock.

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.