Chevron (NYSE:CVX) Stock Price Expected to Rise, Truist Financial Analyst Says

Chevron (NYSE:CVX) had its price objective raised by equities researchers at Truist Financial from $155.00 to $160.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the oil and gas company’s stock. Truist Financial’s price objective points to a potential upside of 3.07% from the company’s previous close.

CVX has been the topic of a number of other research reports. Mizuho decreased their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Barclays boosted their target price on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Scotiabank reduced their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company lowered their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price of $175.94.

Chevron Trading Down 2.6 %

Shares of CVX stock opened at $155.24 on Friday. The business has a 50-day moving average price of $154.77 and a two-hundred day moving average price of $152.45. Chevron has a 12-month low of $135.37 and a 12-month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market cap of $278.98 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 3.50 and a beta of 1.10.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 13.15% and a net margin of 8.44%. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.05 EPS. Equities analysts anticipate that Chevron will post 10.53 EPS for the current fiscal year.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CVX. Inspire Trust Co. N.A. increased its holdings in shares of Chevron by 19.9% during the third quarter. Inspire Trust Co. N.A. now owns 50,868 shares of the oil and gas company’s stock valued at $7,491,000 after acquiring an additional 8,445 shares in the last quarter. Old North State Trust LLC grew its position in Chevron by 17.6% during the 3rd quarter. Old North State Trust LLC now owns 2,549 shares of the oil and gas company’s stock valued at $375,000 after purchasing an additional 381 shares during the last quarter. Franklin Resources Inc. increased its stake in Chevron by 3.4% during the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock valued at $2,610,645,000 after purchasing an additional 573,218 shares in the last quarter. Tri Ri Asset Management Corp purchased a new position in Chevron in the third quarter worth about $3,031,000. Finally, Castellan Group lifted its stake in shares of Chevron by 112.0% in the third quarter. Castellan Group now owns 18,570 shares of the oil and gas company’s stock worth $2,735,000 after buying an additional 9,810 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

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.