Chevron (NYSE:CVX) Stock Rating Upgraded by JPMorgan Chase & Co.

Chevron (NYSE:CVX) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Tuesday,Finviz reports. The brokerage currently has a $176.00 target price on the oil and gas company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 5.85% from the company’s current price.

CVX has been the topic of several other reports. Jefferies Financial Group upped their price objective on shares of Chevron from $174.00 to $189.00 and gave the company a “buy” rating in a report on Wednesday, January 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Freedom Capital cut shares of Chevron from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 6th. Scotiabank reaffirmed a “sector perform” rating and issued a $168.00 price objective on shares of Chevron in a report on Friday. Finally, Piper Sandler lowered their target price on shares of Chevron from $178.00 to $174.00 and set an “overweight” rating on the stock in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Chevron currently has a consensus rating of “Hold” and a consensus target price of $168.61.

Chevron Price Performance

Shares of NYSE CVX opened at $166.27 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $153.67 and a two-hundred day simple moving average of $154.39. Chevron has a 1-year low of $132.04 and a 1-year high of $169.37. The firm has a market cap of $334.79 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 10.29 and a beta of 0.70.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.14. The firm had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The business’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.48 earnings per share. Analysts anticipate that Chevron will post 10.79 earnings per share for the current year.

Insider Activity

In other news, CFO Eimear P. Bonner sold 28,334 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $165.05, for a total transaction of $4,676,526.70. Following the completion of the transaction, the chief financial officer directly owned 4,366 shares in the company, valued at $720,608.30. The trade was a 86.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John B. Hess sold 275,000 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. This trade represents a 19.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 635,190 shares of company stock valued at $100,254,408 in the last quarter. 0.20% of the stock is currently owned by company insiders.

Institutional Trading of Chevron

A number of large investors have recently modified their holdings of CVX. ASL Financial LLC bought a new position in shares of Chevron in the fourth quarter worth approximately $983,000. Essex LLC lifted its position in Chevron by 8.3% during the fourth quarter. Essex LLC now owns 2,413 shares of the oil and gas company’s stock valued at $368,000 after purchasing an additional 185 shares during the last quarter. Partners Wealth Management LLC grew its stake in Chevron by 12.8% in the 4th quarter. Partners Wealth Management LLC now owns 2,738 shares of the oil and gas company’s stock worth $417,000 after buying an additional 310 shares in the last quarter. Sharp Wealth Advisory LLC increased its holdings in shares of Chevron by 6.0% in the 4th quarter. Sharp Wealth Advisory LLC now owns 3,798 shares of the oil and gas company’s stock worth $579,000 after buying an additional 215 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter valued at $362,000. Institutional investors own 72.42% of the company’s stock.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.