Chevron (NYSE:CVX) Stock Rating Upgraded by DZ Bank

Chevron (NYSE:CVX) was upgraded by DZ Bank from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage currently has a $170.00 price objective on the oil and gas company’s stock. DZ Bank’s price objective would suggest a potential upside of 7.83% from the stock’s previous close.

A number of other research firms also recently weighed in on CVX. Royal Bank of Canada boosted their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday. Mizuho decreased their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Barclays upped their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company lowered their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Finally, Wolfe Research assumed coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.93.

Chevron Trading Up 2.8 %

Chevron stock opened at $157.65 on Tuesday. Chevron has a 52-week low of $135.37 and a 52-week high of $167.11. The business has a 50-day simple moving average of $147.43 and a two-hundred day simple moving average of $152.90. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market cap of $288.33 billion, a P/E ratio of 17.32, a P/E/G ratio of 3.43 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.05 EPS. Analysts predict that Chevron will post 10.65 EPS for the current year.

Institutional Investors Weigh In On Chevron

Large investors have recently modified their holdings of the business. Ameriprise Financial Inc. raised its stake in shares of Chevron by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after purchasing an additional 501,969 shares during the last quarter. Capital World Investors lifted its holdings in 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 valued at $2,525,380,000 after purchasing an additional 495,879 shares in the last quarter. Legal & General Group Plc boosted its holdings in Chevron by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock worth $2,122,772,000 after buying an additional 629,644 shares during the last quarter. Capital International Investors boosted its stake in Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after purchasing an additional 743,042 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Chevron by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,021,023 shares of the oil and gas company’s stock valued at $2,036,846,000 after acquiring an additional 126,889 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

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.