Chevron (NYSE:CVX) Price Target Cut to $169.00

Chevron (NYSE:CVX) had its price objective lowered by investment analysts at Wells Fargo & Company from $196.00 to $169.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 16.16% from the company’s previous close.

Several other analysts have also recently weighed in on the company. Royal Bank of Canada dropped their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Mizuho lowered their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Truist Financial lowered their target price on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $180.24.

Chevron Stock Up 2.5 %

CVX opened at $145.49 on Friday. The company has a market capitalization of $266.09 billion, a P/E ratio of 13.38, a P/E/G ratio of 2.68 and a beta of 1.09. The firm’s fifty day moving average price is $146.63 and its two-hundred day moving average price is $154.31. Chevron has a fifty-two week low of $135.37 and a fifty-two week high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the previous year, the business posted $3.08 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts anticipate that Chevron will post 11.02 EPS for the current year.

Institutional Trading of Chevron

Several hedge funds and other institutional investors have recently modified their holdings of the business. American Capital Advisory LLC lifted its holdings in shares of Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter valued at $30,000. Anfield Capital Management LLC grew its position in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC increased its stake in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Finally, Cooksen Wealth LLC purchased a new stake in Chevron in the fourth quarter worth approximately $40,000. Institutional investors own 72.42% of the company’s stock.

Chevron Company Profile

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.