Chevron Corp. (CVX) Earns Neutral Rating from Analysts at Exane BNP Paribas
Exane BNP Paribas initiated coverage on shares of Chevron Corp. (NYSE:CVX) in a research note published on Monday morning. The brokerage issued a neutral rating and a $102.00 price objective on the stock.
CVX has been the subject of a number of other reports. Zacks Investment Research raised shares of Chevron Corp. from a hold rating to a strong-buy rating and set a $118.00 target price for the company in a research note on Monday, October 3rd. Vetr raised shares of Chevron Corp. from a buy rating to a strong-buy rating and set a $119.79 target price for the company in a research note on Wednesday, September 28th. JPMorgan Chase & Co. reissued an overweight rating and set a $117.00 target price on shares of Chevron Corp. in a research note on Monday, September 26th. Jefferies Group boosted their target price on shares of Chevron Corp. from $114.00 to $116.00 and gave the company a buy rating in a research note on Tuesday, July 12th. Finally, Credit Suisse Group AG reissued a neutral rating on shares of Chevron Corp. in a research note on Tuesday, September 6th. Thirteen investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $105.09.
Chevron Corp. (NYSE:CVX) opened at 102.15 on Monday. The stock’s market capitalization is $192.71 billion. Chevron Corp. has a 52 week low of $75.33 and a 52 week high of $107.58. The stock’s 50 day moving average is $101.07 and its 200-day moving average is $101.23.
Chevron Corp. (NYSE:CVX) last posted its earnings results on Friday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by $1.10. The firm had revenue of $29.28 billion for the quarter, compared to analyst estimates of $25.78 billion. Chevron Corp. had a negative net margin of 0.64% and a positive return on equity of 1.07%. The company’s revenue for the quarter was down 27.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 earnings per share. Equities research analysts forecast that Chevron Corp. will post $1.31 EPS for the current year.
In related news, insider Michael K. Wirth sold 125,000 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $100.47, for a total transaction of $12,558,750.00. Following the completion of the sale, the insider now directly owns 4,222 shares of the company’s stock, valued at approximately $424,184.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Inge G. Thulin acquired 487 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were purchased at an average cost of $102.87 per share, with a total value of $50,097.69. The disclosure for this purchase can be found here. Corporate insiders own 0.40% of the company’s stock.
Several hedge funds have recently bought and sold shares of CVX. Coastline Trust Co increased its stake in shares of Chevron Corp. by 7.4% in the first quarter. Coastline Trust Co now owns 28,364 shares of the company’s stock worth $2,706,000 after buying an additional 1,950 shares during the period. Joel Isaacson & Co. LLC increased its stake in shares of Chevron Corp. by 4.3% in the first quarter. Joel Isaacson & Co. LLC now owns 9,946 shares of the company’s stock worth $949,000 after buying an additional 408 shares during the period. BLB&B Advisors LLC increased its stake in shares of Chevron Corp. by 1.5% in the first quarter. BLB&B Advisors LLC now owns 69,119 shares of the company’s stock worth $6,594,000 after buying an additional 989 shares during the period. Fisher Asset Management LLC increased its stake in shares of Chevron Corp. by 30.6% in the first quarter. Fisher Asset Management LLC now owns 3,637,927 shares of the company’s stock worth $353,716,000 after buying an additional 851,977 shares during the period. Finally, Gillespie Robinson & Grimm Inc. increased its stake in shares of Chevron Corp. by 11.3% in the first quarter. Gillespie Robinson & Grimm Inc. now owns 122,468 shares of the company’s stock worth $11,908,000 after buying an additional 12,430 shares during the period. 62.24% of the stock is owned by institutional investors and hedge funds.
Chevron Corp. Company Profile
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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