Royal Bank of Canada Reaffirms “Outperform” Rating for Chevron (NYSE:CVX)

Chevron (NYSE:CVX)‘s stock had its “outperform” rating reiterated by Royal Bank of Canada in a research note issued to investors on Monday,Benzinga reports. They presently have a $175.00 price target on the oil and gas company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 14.28% from the stock’s previous close.

Several other brokerages have also weighed in on CVX. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Barclays boosted their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Bank of America began coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Finally, Wells Fargo & Company reduced their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $174.33.

Chevron Stock Up 2.5 %

Shares of Chevron stock opened at $153.14 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron has a 1-year low of $135.37 and a 1-year high of $167.11. The business has a 50-day moving average of $152.97 and a 200-day moving average of $150.93. The company has a market capitalization of $275.20 billion, a PE ratio of 15.75, a P/E/G ratio of 1.29 and a beta of 1.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the business posted $3.45 EPS. As a group, equities analysts forecast that Chevron will post 11.45 EPS for the current fiscal year.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

Institutional Trading of Chevron

A number of institutional investors have recently made changes to their positions in CVX. Life Planning Partners Inc acquired a new position in shares of Chevron during the 4th quarter valued at $25,000. Rational Advisors LLC acquired a new position in Chevron during the third quarter worth about $29,000. Legacy Investment Solutions LLC bought a new stake in Chevron in the third quarter worth about $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron in the 3rd quarter valued at about $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Chevron during the 3rd quarter valued at about $31,000. 72.42% of the stock is owned by institutional investors and hedge funds.

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.