Chevron (NYSE:CVX) PT Lowered to $189.00

Chevron (NYSE:CVX) had its price target dropped by analysts at Mizuho from $205.00 to $189.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the oil and gas company’s stock. Mizuho’s price target indicates a potential upside of 31.74% from the company’s current price.

A number of other equities research analysts have also weighed in on CVX. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank lowered their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Truist Financial dropped their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Finally, Barclays reduced their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $182.88.

Chevron Price Performance

Shares of CVX opened at $143.46 on Monday. The company has a 50 day moving average of $148.69 and a two-hundred day moving average of $154.61. 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 has a twelve month low of $135.37 and a twelve month high of $171.70. The company has a market cap of $262.38 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 analysts’ expectations of $48.68 billion. During the same quarter in the prior year, the company posted $3.08 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts predict that Chevron will post 11.57 earnings per share for the current fiscal year.

Institutional Trading of Chevron

Several institutional investors have recently bought and sold shares of CVX. Berkshire Hathaway Inc grew its stake in Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares during the period. Ameriprise Financial Inc. lifted its holdings in Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after purchasing an additional 501,969 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Chevron by 4.2% in the first quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock valued at $2,540,135,000 after purchasing an additional 654,482 shares during the period. Capital World Investors increased its stake in shares of Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Chevron by 13.0% during the 4th quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock worth $2,330,235,000 after purchasing an additional 1,797,171 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

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.