Chevron (NYSE:CVX) Price Target Raised to $244.00

Chevron (NYSE:CVX) had its price target boosted by equities research analysts at Barclays from $208.00 to $244.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s target price indicates a potential upside of 6.88% from the stock’s current price.

A number of other brokerages also recently commented on CVX. BMO Capital Markets lifted their price target on shares of Chevron from $210.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, September 3rd. BNP Paribas Exane cut their price objective on shares of Chevron from $230.00 to $224.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Zacks Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. UBS Group upped their price objective on shares of Chevron from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, October 8th. Finally, Raymond James Financial decreased their target price on shares of Chevron from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $217.21.

Chevron Price Performance

Chevron stock traded down $7.23 during midday trading on Monday, reaching $228.29. 5,895,598 shares of the company were exchanged, compared to its average volume of 10,271,211. The company has a market capitalization of $451.05 billion, a price-to-earnings ratio of 16.67, a P/E/G ratio of 0.56 and a beta of 0.47. The firm’s 50-day simple moving average is $213.16 and its 200-day simple moving average is $193.07. Chevron has a 1 year low of $146.49 and a 1 year high of $236.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.87 by $0.41. The firm had revenue of $65.24 billion during the quarter, compared to the consensus estimate of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The firm’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.85 EPS. On average, analysts anticipate that Chevron will post 18.15 EPS for the current year.

Insiders Place Their Bets

In other Chevron news, CEO Michael Wirth sold 317,100 shares of Chevron stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the sale, the chief executive officer owned 26,308 shares in the company, valued at $5,273,701.68. The trade was a 92.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew Walz sold 16,800 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the transaction, the insider directly owned 14 shares of the company’s stock, valued at approximately $2,814.84. This represents a 99.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 385,017 shares of company stock valued at $78,253,704. Insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Chevron

A number of institutional investors have recently bought and sold shares of the stock. Main Street Group LTD acquired a new position in shares of Chevron in the 1st quarter valued at $28,000. Kilter Group LLC purchased a new position in shares of Chevron in the 2nd quarter worth $28,000. Principia Wealth Advisory LLC boosted its holdings in Chevron by 49.6% in the second quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 60 shares during the last quarter. Financial Connections Group Inc. boosted its holdings in Chevron by 129.3% in the first quarter. Financial Connections Group Inc. now owns 211 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 119 shares during the last quarter. Finally, Legacy Wealth Managment LLC ID grew its position in Chevron by 81.8% during the first quarter. Legacy Wealth Managment LLC ID now owns 220 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 99 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Strong third-quarter results: Chevron exceeded expectations with adjusted earnings of $5.28 per share versus the $4.87 consensus, while revenue rose 36.3% year over year to $65.24 billion. Record U.S. refinery throughput and approximately $4.93 billion in refining profit were major contributors. CVX Q3 Earnings Call Highlights Venezuela Growth and Refining Gains
• Positive Sentiment: Growth and cash-flow outlook: Management highlighted sustained U.S. upstream production, disciplined capital allocation, AI-supported reliability improvements and plans to potentially double Venezuelan production to 600,000 barrels per day. Analysts at Morgan Stanley raised their free-cash-flow outlook, while other analysts increased price targets following the earnings beat. Chevron Analysts Raise Their Forecasts After Better-Than-Expected Q3 Earnings
• Positive Sentiment: Institutional demand and income appeal: ETFs purchased about $64 million of CVX, with 44 funds buying versus 18 selling. The Invesco S&P Ultra Dividend Revenue ETF also made Chevron one of its largest purchases. Chevron declared a quarterly dividend of $1.78 per share, reinforcing its appeal to income-focused investors. ETFs Are Buying Chevron (CVX) on Thursday
• Neutral Sentiment: Leadership transition: Siva Barnwell Adams will become corporate secretary and chief governance officer on January 1, 2027, succeeding an executive who is retiring. The change is unlikely to materially affect near-term earnings. Siva Barnwell Adams Named Corporate Secretary and Chief Governance Officer
• Negative Sentiment: Valuation and execution risks: CVX is near a 52-week high after a strong run, increasing the possibility of profit-taking if investors believe the earnings beat is already reflected in the price. Chevron is also raising exploration spending by 50% and committing substantial capital to Venezuela and other frontier regions, which could increase costs, geopolitical exposure and long-term execution risk. Chevron Raises Exploration Spending By 50%

Chevron Company Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.