Mizuho Issues Pessimistic Forecast for Chevron (NYSE:CVX) Stock Price

Chevron (NYSE:CVX) had its target price cut by analysts at Mizuho from $188.00 to $186.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas company’s stock. Mizuho’s target price would indicate a potential upside of 30.84% from the company’s previous close.

CVX has been the subject of several other reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Redburn Atlantic reiterated a “sell” rating and set a $124.00 price target (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a report on Tuesday, May 6th. Raymond James decreased their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, BNP Paribas cut shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron has an average rating of “Hold” and an average price target of $160.88.

Chevron Trading Up 0.4%

NYSE:CVX traded up $0.54 on Tuesday, hitting $142.16. 1,407,221 shares of the stock were exchanged, compared to its average volume of 7,978,201. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock has a fifty day moving average of $147.72 and a 200-day moving average of $152.01. The stock has a market cap of $250.28 billion, a PE ratio of 14.63, a PEG ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. During the same period in the previous year, the firm earned $2.93 earnings per share. Chevron’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities analysts expect that Chevron will post 10.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chevron

A number of institutional investors have recently made changes to their positions in CVX. TFB Advisors LLC boosted its position in shares of Chevron by 2.4% in the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after purchasing an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. boosted its position in shares of Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after purchasing an additional 66 shares during the period. Parkside Financial Bank & Trust increased its holdings in Chevron by 0.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock valued at $2,207,000 after acquiring an additional 66 shares during the last quarter. Meridian Financial Partners LLC raised its stake in Chevron by 0.5% during the fourth quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company’s stock valued at $1,943,000 after purchasing an additional 67 shares in the last quarter. Finally, Western Pacific Wealth Management LP raised its holdings in Chevron by 14.9% during the 4th quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company’s stock valued at $75,000 after buying an additional 67 shares during the period. Hedge funds and other 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.