Chevron (CVX) Given a $120.00 Price Target by UBS Analysts

Chevron (NYSE:CVX) has been assigned a $120.00 price target by equities researchers at UBS in a research report issued to clients and investors on Monday. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. UBS’s target price would indicate a potential upside of 0.41% from the company’s previous close.

CVX has been the topic of several other reports. Bank of America set a $125.00 price objective on shares of Chevron and gave the company a “buy” rating in a report on Saturday. BNP Paribas raised shares of Chevron from an “underperform” rating to a “neutral” rating and set a $105.00 price objective on the stock in a report on Monday, August 7th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $108.00 price objective (up from $100.00) on shares of Chevron in a report on Tuesday, October 3rd. Jefferies Group reaffirmed a “buy” rating and set a $137.00 price objective on shares of Chevron in a report on Thursday, October 19th. Finally, Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $127.00 price objective on the stock in a report on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $121.22.

Chevron (NYSE:CVX) opened at $119.51 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The firm has a market cap of $226,994.17, a PE ratio of 33.48, a P/E/G ratio of 3.89 and a beta of 1.21. Chevron has a fifty-two week low of $102.55 and a fifty-two week high of $120.89.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.04. The company had revenue of $36.21 billion for the quarter, compared to the consensus estimate of $34.06 billion. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. analysts predict that Chevron will post 4.39 earnings per share for the current fiscal year.

In related news, VP R. Hewitt Pate sold 25,500 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $120.00, for a total value of $3,060,000.00. Following the completion of the sale, the vice president now owns 25,500 shares of the company’s stock, valued at $3,060,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total value of $145,022.00. Following the completion of the sale, the insider now directly owns 1,229 shares of the company’s stock, valued at approximately $145,022. The disclosure for this sale can be found here. Insiders have sold 290,750 shares of company stock worth $33,774,072 over the last quarter. Company insiders own 0.38% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Pathstone Family Office LLC increased its holdings in shares of Chevron by 2.5% during the second quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock valued at $2,170,000 after acquiring an additional 20 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Chevron during the second quarter valued at $106,000. Thompson Davis & CO. Inc. increased its holdings in shares of Chevron by 20.0% during the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after acquiring an additional 191 shares in the last quarter. Winfield Associates Inc. increased its holdings in shares of Chevron by 5.1% during the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after acquiring an additional 63 shares in the last quarter. Finally, Accurate Investment Solutions Inc. increased its holdings in shares of Chevron by 59.1% during the third quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after acquiring an additional 502 shares in the last quarter. 63.93% of the stock is owned by institutional investors.

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About Chevron

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

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