Chevron (NYSE:CVX) Price Target Lowered to $156.00 at Truist Financial

Chevron (NYSE:CVX) had its price objective trimmed by Truist Financial from $166.00 to $156.00 in a report released on Monday morning, Benzinga reports. The firm currently has a hold rating on the oil and gas company’s stock.

Several other analysts also recently issued reports on the company. Raymond James increased their price target on Chevron from $170.00 to $174.00 and gave the company an outperform rating in a report on Monday, April 15th. UBS Group increased their price target on Chevron from $185.00 to $197.00 and gave the company a buy rating in a report on Tuesday, April 9th. Sanford C. Bernstein downgraded Chevron from an outperform rating to a market perform rating and lowered their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. TD Cowen increased their price target on Chevron from $155.00 to $160.00 and gave the company a hold rating in a report on Monday, April 29th. Finally, Barclays assumed coverage on Chevron in a report on Wednesday, April 10th. They issued an overweight rating and a $203.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $185.67.

Chevron Trading Up 1.7 %

CVX stock opened at $157.77 on Monday. The company has a market cap of $290.77 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 2.45 and a beta of 1.10. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $156.78 and a 200-day simple moving average of $155.53. Chevron has a 52 week low of $139.62 and a 52 week high of $171.70.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. During the same period in the prior year, the firm posted $3.55 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities research analysts expect that Chevron will post 12.6 EPS for the current year.

Insider Transactions at Chevron

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,946 shares of company stock valued at $2,265,971. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

Large investors have recently bought and sold shares of the business. American Capital Advisory LLC lifted its holdings in 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 acquiring an additional 125 shares during the last quarter. Bare Financial Services Inc bought a new stake in shares of Chevron during the fourth quarter valued at approximately $27,000. Frank Rimerman Advisors LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $30,000. Cooksen Wealth LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $40,000. Finally, Clear Investment Research LLC raised its holdings in shares of Chevron by 264.9% during the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 204 shares during the last quarter. 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.