Chevron (NYSE:CVX) Price Target Raised to $175.00

Chevron (NYSE:CVX) had its price target increased by investment analysts at Royal Bank of Canada from $170.00 to $175.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the oil and gas company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 13.84% from the company’s current price.

Several other equities research analysts have also commented on the company. Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Mizuho cut their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Wolfe Research assumed coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. UBS Group upped their target price on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a research report on Monday. Finally, Barclays upped their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus target price of $174.27.

Chevron Trading Up 0.4 %

Shares of NYSE CVX traded up $0.65 during trading on Monday, reaching $153.72. The company had a trading volume of 1,736,493 shares, compared to its average volume of 7,634,756. The company’s fifty day moving average price is $146.96 and its 200-day moving average price is $152.93. Chevron has a 12 month low of $135.37 and a 12 month high of $167.11. The stock has a market cap of $281.14 billion, a P/E ratio of 16.91, a PEG ratio of 3.29 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the company earned $3.08 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, research analysts expect that Chevron will post 10.74 earnings per share for the current year.

Institutional Trading of Chevron

Several institutional investors and hedge funds have recently modified their holdings of CVX. Tyler Stone Wealth Management increased its position in shares of Chevron by 135.1% during the third quarter. Tyler Stone Wealth Management now owns 4,171 shares of the oil and gas company’s stock valued at $614,000 after acquiring an additional 2,397 shares during the last quarter. Colonial River Investments LLC increased its position in shares of Chevron by 1.8% during the third quarter. Colonial River Investments LLC now owns 6,864 shares of the oil and gas company’s stock valued at $1,011,000 after acquiring an additional 124 shares during the last quarter. Mayflower Financial Advisors LLC increased its position in shares of Chevron by 14.7% during the third quarter. Mayflower Financial Advisors LLC now owns 17,296 shares of the oil and gas company’s stock valued at $2,547,000 after acquiring an additional 2,216 shares during the last quarter. Alan B Lancz & Associates Inc. increased its position in shares of Chevron by 14.0% during the third quarter. Alan B Lancz & Associates Inc. now owns 2,849 shares of the oil and gas company’s stock valued at $420,000 after acquiring an additional 350 shares during the last quarter. Finally, Costello Asset Management INC increased its position in shares of Chevron by 131.9% during the third quarter. Costello Asset Management INC now owns 13,584 shares of the oil and gas company’s stock valued at $2,000,000 after acquiring an additional 7,726 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

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.