Chevron (NYSE:CVX) Given New $180.00 Price Target at Raymond James

Chevron (NYSE:CVX) had its price target raised by research analysts at Raymond James from $175.00 to $180.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the oil and gas company’s stock. Raymond James’ price target points to a potential upside of 11.43% from the stock’s previous close.

Several other research analysts also recently commented on CVX. Piper Sandler dropped their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Truist Financial increased their price objective on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company increased their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Scotiabank lowered their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Chevron Trading Up 1.4 %

Shares of CVX stock opened at $161.54 on Friday. Chevron has a 52-week low of $135.37 and a 52-week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market capitalization of $290.30 billion, a PE ratio of 17.75, a PEG ratio of 2.62 and a beta of 1.12. The stock has a fifty day simple moving average of $153.93 and a two-hundred day simple moving average of $151.09.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the firm earned $3.05 EPS. The business’s revenue was down 6.3% on a year-over-year basis. On average, analysts predict that Chevron will post 10.39 EPS for the current fiscal year.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chevron

Several institutional investors have recently bought and sold shares of the business. Hedges Asset Management LLC grew its holdings in Chevron by 2.9% in the fourth quarter. Hedges Asset Management LLC now owns 13,600 shares of the oil and gas company’s stock worth $1,970,000 after purchasing an additional 388 shares during the last quarter. Spinnaker Investment Group LLC grew its holdings in Chevron by 8.7% in the fourth quarter. Spinnaker Investment Group LLC now owns 2,420 shares of the oil and gas company’s stock worth $351,000 after purchasing an additional 193 shares during the last quarter. Apeiron RIA LLC grew its holdings in Chevron by 5.4% in the fourth quarter. Apeiron RIA LLC now owns 8,420 shares of the oil and gas company’s stock worth $1,220,000 after purchasing an additional 433 shares during the last quarter. Veracity Capital LLC grew its holdings in Chevron by 5.8% in the fourth quarter. Veracity Capital LLC now owns 4,829 shares of the oil and gas company’s stock worth $699,000 after purchasing an additional 265 shares during the last quarter. Finally, Secure Asset Management LLC grew its holdings in Chevron by 18.6% in the fourth quarter. Secure Asset Management LLC now owns 16,940 shares of the oil and gas company’s stock worth $2,454,000 after purchasing an additional 2,662 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.