Chevron Corporation (NYSE:CVX) had its price target boosted by equities research analysts at Morgan Stanley from $120.00 to $130.00 in a report released on Wednesday. The firm currently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s price target would indicate a potential upside of 8.14% from the stock’s previous close.

Several other research analysts have also commented on the stock. Societe Generale lowered shares of Chevron Corporation from a “buy” rating to a “hold” rating and set a $130.00 price objective for the company. in a research note on Wednesday. BMO Capital Markets reiterated a “hold” rating on shares of Chevron Corporation in a research note on Wednesday. They noted that the move was a valuation call. Macquarie upgraded shares of Chevron Corporation from a “neutral” rating to an “outperform” rating and set a $135.00 price objective for the company in a research note on Tuesday. Vetr lowered shares of Chevron Corporation from a “buy” rating to a “hold” rating and set a $124.92 price objective for the company. in a research note on Monday. Finally, Wolfe Research upgraded shares of Chevron Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $119.33.

Shares of Chevron Corporation (NYSE CVX) opened at 120.22 on Wednesday. The stock’s 50 day moving average is $114.83 and its 200-day moving average is $108.32. The stock has a market cap of $227.82 billion, a PE ratio of 38.98 and a beta of 1.24. Chevron Corporation has a 12-month low of $99.87 and a 12-month high of $120.74.

Chevron Corporation (NYSE:CVX) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm had revenue of $34.48 billion during the quarter, compared to analyst estimates of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. Chevron Corporation’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.78) EPS. Equities analysts expect that Chevron Corporation will post $4.07 EPS for the current year.

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In related news, Director Linnet F. Deily sold 2,312 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total transaction of $248,262.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James William Johnson sold 31,000 shares of the stock in a transaction on Wednesday, August 2nd. The stock was 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. Insiders have sold 72,312 shares of company stock worth $8,008,343 over the last three months. 0.38% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Amarillo National Bank boosted its holdings in Chevron Corporation by 7.6% during the third quarter. Amarillo National Bank now owns 8,400 shares of the oil and gas company’s stock worth $987,000 after buying an additional 593 shares in the last quarter. Fulton Bank N.A. lifted its holdings in Chevron Corporation by 10.7% during the third quarter. Fulton Bank N.A. now owns 50,136 shares of the oil and gas company’s stock valued at $5,891,000 after purchasing an additional 4,831 shares in the last quarter. Curbstone Financial Management Corp lifted its holdings in Chevron Corporation by 88.5% during the third quarter. Curbstone Financial Management Corp now owns 15,402 shares of the oil and gas company’s stock valued at $1,810,000 after purchasing an additional 7,232 shares in the last quarter. Bridges Investment Management Inc. lifted its holdings in Chevron Corporation by 1.4% during the third quarter. Bridges Investment Management Inc. now owns 91,726 shares of the oil and gas company’s stock valued at $10,778,000 after purchasing an additional 1,288 shares in the last quarter. Finally, Perpetual Ltd lifted its holdings in Chevron Corporation by 6.8% during the second quarter. Perpetual Ltd now owns 22,012 shares of the oil and gas company’s stock valued at $2,297,000 after purchasing an additional 1,400 shares in the last quarter. 62.72% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Corporation 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.

Analyst Recommendations for Chevron Corporation (NYSE:CVX)

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