UBS Group Forecasts Strong Price Appreciation for Chevron (NYSE:CVX) Stock

Chevron (NYSE:CVX) had its price target raised by investment analysts at UBS Group from $192.00 to $194.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. UBS Group’s price objective would indicate a potential upside of 26.45% from the stock’s current price.

A number of other research analysts also recently issued reports on CVX. Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank reduced their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Barclays upped their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Stock Down 0.4 %

Shares of NYSE CVX opened at $153.42 on Monday. 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 52 week low of $135.37 and a 52 week high of $167.11. The firm’s fifty day moving average is $147.20 and its 200 day moving average is $152.86. The company has a market cap of $280.59 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 3.39 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for 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%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.05 EPS. On average, equities research analysts expect that Chevron will post 10.7 earnings per share for the current year.

Hedge Funds Weigh In On Chevron

Several hedge funds and other institutional investors have recently bought and sold shares of CVX. China Universal Asset Management Co. Ltd. bought a new position in shares of Chevron in the 1st quarter worth approximately $566,000. Main Street Research LLC lifted its stake in shares of Chevron by 7.0% in the 1st quarter. Main Street Research LLC now owns 10,897 shares of the oil and gas company’s stock worth $1,719,000 after purchasing an additional 712 shares during the period. Moloney Securities Asset Management LLC lifted its stake in shares of Chevron by 3.4% in the 1st quarter. Moloney Securities Asset Management LLC now owns 26,194 shares of the oil and gas company’s stock worth $4,132,000 after purchasing an additional 873 shares during the period. Lewis Asset Management LLC lifted its stake in shares of Chevron by 5.3% in the 1st quarter. Lewis Asset Management LLC now owns 2,155 shares of the oil and gas company’s stock worth $340,000 after purchasing an additional 109 shares during the period. Finally, Crown Wealth Group LLC increased its holdings in Chevron by 52.2% in the 1st quarter. Crown Wealth Group LLC now owns 2,845 shares of the oil and gas company’s stock worth $449,000 after acquiring an additional 976 shares in the last quarter. 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.