Barclays Issues Positive Forecast for Chevron (NYSE:CVX) Stock Price

Chevron (NYSE:CVX) had its price objective boosted by stock analysts at Barclays from $213.00 to $216.00 in a research report issued on Monday, MarketBeat reports. The brokerage presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s price target points to a potential upside of 9.59% from the company’s current price.

CVX has been the topic of a number of other research reports. Wolfe Research upgraded shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a report on Thursday, July 2nd. Morgan Stanley dropped their price target on shares of Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Mizuho boosted their price objective on shares of Chevron from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Scotiabank upped their price objective on shares of Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.30.

Chevron Stock Performance

CVX stock opened at $197.10 on Monday. The firm has a 50 day simple moving average of $181.95 and a 200 day simple moving average of $185.12. Chevron has a 52 week low of $146.49 and a 52 week high of $214.71. The stock has a market cap of $392.55 billion, a P/E ratio of 18.90, a P/E/G ratio of 0.61 and a beta of 0.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.14%. The company had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same quarter last year, the business posted $1.77 EPS. The company’s revenue for the quarter was up 57.4% on a year-over-year basis. Research analysts anticipate that Chevron will post 15.64 earnings per share for the current fiscal year.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Midwest Capital Advisors LLC acquired a new position in shares of Chevron in the 1st quarter valued at $25,000. Core Wealth Advisors LLC acquired a new stake in shares of Chevron during the 4th quarter valued at about $26,000. Phillip James Consulting Co. acquired a new stake in shares of Chevron during the 4th quarter valued at about $26,000. Basso Capital Management L.P. bought a new stake in Chevron in the fourth quarter valued at about $27,000. Finally, Karpus Management Inc. bought a new stake in Chevron in the fourth quarter valued at about $27,000. 72.42% of the stock is owned by institutional investors.

Chevron Company Profile

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.