BNP Paribas Upgrades Chevron Corporation (CVX) to “Neutral”
Chevron Corporation (NYSE:CVX) was upgraded by investment analysts at BNP Paribas from an “underperform” rating to a “neutral” rating in a note issued to investors on Monday. The brokerage presently has a $105.00 target price on the oil and gas company’s stock. BNP Paribas’ price target would suggest a potential downside of 4.85% from the stock’s current price.
Several other research firms have also issued reports on CVX. Macquarie lowered shares of Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 target price for the company. in a research note on Wednesday, June 21st. TheStreet upgraded shares of Chevron Corporation from a “c” rating to a “b” rating in a research note on Tuesday, May 2nd. Piper Jaffray Companies reiterated a “buy” rating on shares of Chevron Corporation in a research note on Thursday, August 3rd. BidaskClub lowered shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Finally, Vetr upgraded shares of Chevron Corporation from a “buy” rating to a “strong-buy” rating and set a $120.46 target price for the company in a research note on Friday, April 14th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $116.22.
Shares of Chevron Corporation (NYSE CVX) opened at 110.35 on Monday. The firm has a market cap of $209.06 billion, a PE ratio of 35.78 and a beta of 1.23. Chevron Corporation has a 52 week low of $97.53 and a 52 week high of $119.00. The firm has a 50-day moving average of $105.46 and a 200-day moving average of $107.95.
Chevron Corporation (NYSE:CVX) last posted its earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The firm had revenue of $34.48 billion during the quarter, compared to analyst estimates of $32.77 billion. During the same quarter in the prior year, the business posted ($0.78) EPS. The business’s revenue was up 17.8% compared to the same quarter last year. On average, analysts expect that Chevron Corporation will post $3.83 EPS for the current year.
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In other Chevron Corporation news, CFO Patricia E. Yarrington sold 39,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the sale, the chief financial officer now directly owns 43,838 shares of the company’s stock, valued at $4,866,018. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider James William Johnson sold 31,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the sale, the insider now directly owns 11,000 shares in the company, valued at $1,217,480. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in CVX. Shine Investment Advisory Services Inc. purchased a new stake in shares of Chevron Corporation during the second quarter worth about $106,000. Thompson Davis & CO. Inc. increased its stake in shares of Chevron Corporation by 20.0% in the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after buying an additional 191 shares during the last quarter. Winfield Associates Inc. increased its stake in shares of Chevron Corporation by 5.1% in the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after buying an additional 63 shares during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Chevron Corporation during the fourth quarter worth about $139,000. Finally, Americafirst Capital Management LLC purchased a new stake in shares of Chevron Corporation during the first quarter worth about $140,000. 62.58% of the stock is currently owned by hedge funds and other institutional investors.
About Chevron Corporation
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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