Chevron (CVX) Price Target Raised to $142.00 at Citigroup

Chevron (NYSE:CVX) had its target price lifted by stock analysts at Citigroup from $135.00 to $142.00 in a research note issued to investors on Monday, The Fly reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Citigroup‘s price objective would suggest a potential upside of 17.19% from the company’s current price.

A number of other equities analysts have also recently weighed in on the stock. Royal Bank of Canada raised shares of Chevron to a “sector perform” rating and set a $145.00 price target on the stock in a research note on Wednesday, March 6th. UBS Group raised shares of Chevron from a “neutral” rating to a “buy” rating and set a $112.95 price target on the stock in a research note on Friday, January 18th. Credit Suisse Group reaffirmed a “buy” rating and set a $130.00 price target on shares of Chevron in a research note on Wednesday, January 23rd. Mizuho reaffirmed a “buy” rating and set a $140.00 price target on shares of Chevron in a research note on Wednesday, March 6th. Finally, Tudor Pickering started coverage on shares of Chevron in a research note on Friday, March 1st. They set a “buy” rating and a $133.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $136.20.

Shares of CVX opened at $121.17 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.04 and a current ratio of 1.25. The firm has a market capitalization of $228.27 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 3.56 and a beta of 1.03. Chevron has a 1 year low of $100.22 and a 1 year high of $131.08.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 1st. The oil and gas company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.08. Chevron had a net margin of 8.91% and a return on equity of 9.78%. The company had revenue of $42.35 billion for the quarter, compared to analysts’ expectations of $41.46 billion. During the same period in the previous year, the company posted $1.64 EPS. Chevron’s revenue was up 12.6% compared to the same quarter last year. As a group, equities research analysts expect that Chevron will post 6.76 EPS for the current year.

In related news, insider Jeanette L. Ourada sold 7,200 shares of the business’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $116.50, for a total value of $838,800.00. Following the sale, the insider now directly owns 7,200 shares in the company, valued at approximately $838,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $124.84, for a total transaction of $592,990.00. Following the completion of the sale, the insider now owns 4,750 shares in the company, valued at $592,990. The disclosure for this sale can be found here. Insiders sold a total of 16,700 shares of company stock worth $2,028,390 over the last quarter. Insiders own 0.46% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in CVX. Oregon Public Employees Retirement Fund boosted its position in shares of Chevron by 10,867.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 55,998,891 shares of the oil and gas company’s stock worth $515,000 after buying an additional 55,488,319 shares in the last quarter. Norges Bank purchased a new stake in shares of Chevron in the 4th quarter worth about $2,131,241,000. Capital International Investors boosted its position in shares of Chevron by 157.4% in the 3rd quarter. Capital International Investors now owns 23,757,783 shares of the oil and gas company’s stock worth $2,905,102,000 after buying an additional 14,528,219 shares in the last quarter. BlackRock Inc. boosted its position in shares of Chevron by 5.2% in the 4th quarter. BlackRock Inc. now owns 127,839,017 shares of the oil and gas company’s stock worth $13,907,606,000 after buying an additional 6,328,133 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Chevron by 320.3% in the 3rd quarter. Renaissance Technologies LLC now owns 2,855,084 shares of the oil and gas company’s stock worth $349,120,000 after buying an additional 2,175,800 shares in the last quarter. Institutional investors and hedge funds own 66.07% of the company’s stock.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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