Chevron (NYSE:CVX) Price Target Raised to $204.00

Chevron (NYSE:CVX) had its target price increased by research analysts at Piper Sandler from $180.00 to $204.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Piper Sandler’s price objective would suggest a potential upside of 29.44% from the stock’s current price.

Several other equities analysts have also issued reports on CVX. Raymond James upped their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday. The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Mizuho lifted their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Barclays started coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective on the stock. Finally, TD Cowen cut shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $184.75.

Chevron Stock Performance

NYSE:CVX traded up $1.20 during trading hours on Thursday, reaching $157.60. 623,421 shares of the stock were exchanged, compared to its average volume of 8,469,440. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $155.19 and a 200-day simple moving average of $151.86. The stock has a market capitalization of $292.71 billion, a P/E ratio of 13.85, a P/E/G ratio of 2.30 and a beta of 1.12. Chevron has a 52 week low of $139.62 and a 52 week high of $172.38.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same period last year, the company posted $4.09 EPS. The company’s revenue was down 16.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron will post 13.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Chevron

Several institutional investors have recently bought and sold shares of CVX. Pacifica Partners Inc. raised its position in shares of Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares during the last quarter. Sweet Financial Partners LLC raised its position in shares of Chevron by 0.7% during the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after acquiring an additional 65 shares during the last quarter. Strategic Investment Advisors MI grew its stake in shares of Chevron by 3.8% during the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after purchasing an additional 65 shares during the period. Ellenbecker Investment Group grew its stake in shares of Chevron by 1.5% during the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after purchasing an additional 65 shares during the period. Finally, Mayfair Advisory Group LLC grew its stake in Chevron by 0.7% in the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after acquiring an additional 65 shares during the period. Institutional investors own 72.42% of the company’s stock.

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.