Chevron (CVX) Rating Reiterated by Cowen

Chevron (NYSE:CVX)‘s stock had its “outperform” rating reissued by research analysts at Cowen in a report issued on Thursday. They presently have a $160.00 price target on the oil and gas company’s stock, up from their prior price target of $122.00. Cowen’s target price points to a potential upside of 28.02% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Jefferies Group reissued a “buy” rating and issued a $140.00 price target on shares of Chevron in a research note on Wednesday. Credit Suisse Group assumed coverage on Chevron in a research note on Monday, December 11th. They issued a “neutral” rating and a $123.00 price target on the stock. UBS set a $120.00 price target on Chevron and gave the stock a “neutral” rating in a research note on Monday, December 4th. Bank of America set a $125.00 price target on Chevron and gave the stock a “buy” rating in a research note on Saturday, December 2nd. Finally, Zacks Investment Research cut Chevron from a “buy” rating to a “hold” rating in a research note on Monday, November 20th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company’s stock. Chevron currently has a consensus rating of “Hold” and an average target price of $124.22.

Chevron (CVX) opened at $124.98 on Thursday. The stock has a market capitalization of $237,079.84, a PE ratio of 36.44, a P/E/G ratio of 4.12 and a beta of 1.21. Chevron has a fifty-two week low of $102.55 and a fifty-two week high of $125.65. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $36.21 billion for the quarter, compared to analyst estimates of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. Chevron’s revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 earnings per share. analysts anticipate that Chevron will post 4.33 EPS for the current year.

In other Chevron news, VP R. Hewitt Pate sold 25,500 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the completion of the sale, the vice president now directly owns 25,500 shares in the company, valued at approximately $3,060,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total value of $145,022.00. Following the sale, the insider now owns 1,229 shares of the company’s stock, valued at $145,022. The disclosure for this sale can be found here. Insiders have sold a total of 314,000 shares of company stock valued at $36,540,822 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Shine Investment Advisory Services Inc. acquired a new stake in shares of Chevron during the 2nd quarter valued at about $106,000. Thompson Davis & CO. Inc. lifted its holdings in shares of Chevron by 20.0% during the 1st quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 191 shares during the last quarter. Winfield Associates Inc. lifted its holdings in shares of Chevron by 5.1% during the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after buying an additional 63 shares during the last quarter. Daiwa SB Investments Ltd. lifted its holdings in Chevron by 438.5% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 1,140 shares during the last quarter. Finally, Acrospire Investment Management LLC lifted its holdings in Chevron by 133.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 63.77% of the company’s stock.

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Chevron Company Profile

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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