Chevron (NYSE:CVX) PT Raised to $178.00 at HSBC

Chevron (NYSE:CVX) had its price target raised by investment analysts at HSBC from $175.00 to $178.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. HSBC’s price target would suggest a potential upside of 8.55% from the stock’s current price.

Other research analysts have also issued reports about the stock. Truist Financial reduced their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. TD Cowen boosted their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday. UBS Group boosted their price target on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research report on Tuesday, February 6th. Finally, Barclays assumed coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price target on the stock. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $185.35.

Chevron Stock Performance

Shares of NYSE CVX traded down $2.35 during midday trading on Tuesday, hitting $163.98. The company’s stock had a trading volume of 2,215,514 shares, compared to its average volume of 8,376,295. Chevron has a 1-year low of $139.62 and a 1-year high of $171.70. The firm’s fifty day moving average price is $156.81 and its 200-day moving average price is $151.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The firm has a market cap of $304.56 billion, a P/E ratio of 15.07, a P/E/G ratio of 2.44 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same period in the previous year, the business posted $3.55 EPS. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, sell-side analysts forecast that Chevron will post 13.58 EPS for the current fiscal year.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacifica Partners Inc. raised its position in shares of Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after acquiring an additional 63 shares during the period. Sweet Financial Partners LLC raised its position in shares of Chevron by 0.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after acquiring an additional 65 shares during the period. Strategic Investment Advisors MI raised its holdings in Chevron by 3.8% during the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after buying an additional 65 shares during the period. Ellenbecker Investment Group raised its holdings in Chevron by 1.5% during the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after buying an additional 65 shares during the period. Finally, Mayfair Advisory Group LLC raised its holdings in Chevron by 0.7% during the 1st quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,484,000 after buying an additional 65 shares during the period. 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.