Chevron (NYSE:CVX) Price Target Raised to $206.00

Chevron (NYSE:CVX) had its target price upped by equities research analysts at Bank of America from $188.00 to $206.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Bank of America‘s price target would suggest a potential upside of 10.48% from the stock’s previous close.

Several other equities research analysts have also commented on CVX. UBS Group restated a “buy” rating and issued a $212.00 price target on shares of Chevron in a research note on Monday, February 2nd. Barclays lifted their target price on Chevron from $158.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 21st. JPMorgan Chase & Co. raised Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price target on the stock in a report on Tuesday, January 20th. Freedom Capital downgraded shares of Chevron from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Finally, Scotiabank reissued a “sector perform” rating and set a $168.00 target price on shares of Chevron in a research note on Friday, January 16th. Thirteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Hold” and an average price target of $177.55.

Chevron Price Performance

Shares of NYSE CVX opened at $186.47 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.86. The firm has a market capitalization of $372.07 billion, a PE ratio of 28.00, a P/E/G ratio of 12.36 and a beta of 0.67. Chevron has a 1-year low of $132.04 and a 1-year high of $187.90. The business’s fifty day moving average price is $169.52 and its two-hundred day moving average price is $159.64.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 7.89%. The company had revenue of $45.79 billion during the quarter, compared to the consensus estimate of $48.18 billion. During the same quarter in the previous year, the company posted $2.06 earnings per share. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. On average, research analysts expect that Chevron will post 10.79 EPS for the current year.

Insiders Place Their Bets

In related news, insider Alana K. Knowles sold 2,408 shares of Chevron stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $183.28, for a total value of $441,338.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Mark A. Nelson sold 45,800 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $174.17, for a total value of $7,976,986.00. Following the sale, the insider directly owned 7,161 shares in the company, valued at $1,247,231.37. This trade represents a 86.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 534,898 shares of company stock worth $89,543,711. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

A number of institutional investors have recently bought and sold shares of the stock. D.B. Root & Company LLC grew its stake in Chevron by 1.0% in the fourth quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock valued at $846,000 after purchasing an additional 57 shares in the last quarter. Fox Hill Wealth Management increased its holdings in Chevron by 1.7% in the fourth quarter. Fox Hill Wealth Management now owns 3,443 shares of the oil and gas company’s stock worth $525,000 after buying an additional 57 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in Chevron by 6.8% in the fourth quarter. Cornerstone Planning Group LLC now owns 930 shares of the oil and gas company’s stock valued at $142,000 after acquiring an additional 59 shares during the last quarter. MMA Asset Management LLC raised its holdings in shares of Chevron by 3.4% during the 4th quarter. MMA Asset Management LLC now owns 1,820 shares of the oil and gas company’s stock valued at $277,000 after purchasing an additional 59 shares in the last quarter. Finally, EWA LLC increased its position in Chevron by 2.8% during the fourth quarter. EWA LLC now owns 2,182 shares of the oil and gas company’s stock worth $333,000 after buying an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Oil prices surged (as much as ~13%) after strikes and closures near the Strait of Hormuz, sending CVX shares up on expectations of higher revenues and refining margins. CVX Shares Surge in Early Trading as Crude Oil Soars on Middle East Turmoil
• Positive Sentiment: Reports that Iran-related fighting effectively shut the Hormuz Strait intensified the oil rally and lifted major integrated names including Chevron as traders price in tighter supply. Crude Oil Prices Skyrocket 13% as Iran Conflict Closes Hormuz Strait — XOM and CVX Gain Ground
• Positive Sentiment: Broader coverage notes energy names like Chevron could run further if geopolitical risk keeps oil elevated, supporting momentum and investor interest in the sector. Exxon and Chevron Soar. Why Energy Stocks Could Go Even Higher.
• Positive Sentiment: Chevron’s talks to operate Iraq’s West Qurna 2 and expansion activity in Venezuela and Greece highlight potential long-term upstream growth that could materially lift reserve and production profiles if concluded. Chevron’s Iraq Talks And New Fields Test Valuation And Risk Profile
• Neutral Sentiment: Major brokerages still show an average “Hold” rating on CVX, indicating analysts see limited near-term upside absent sustained higher oil or deal execution. Chevron Corporation (NYSE:CVX) Receives Average Rating of “Hold” from Brokerages
• Neutral Sentiment: Several retail/investment outlets recommend energy buys given commodity tailwinds, which can attract inflows but reflect opinion rather than firm catalysts. 2 No-Brainer Energy Stocks to Buy Right Now
• Negative Sentiment: Berkshire Hathaway’s new CEO omitted Chevron from his “core” holdings in a shareholder letter, a symbolic shift that could temper investor sentiment about CVX’s status among large, long-term holders. Berkshire Hathaway’s New CEO Omits Bank of America And Chevron In Letter To Shareholders After Warren Buffett’s Exit
• Negative Sentiment: Insider selling (reported ~ $89M) was flagged even as commentators urged holding CVX; insider exits can raise governance or timing concerns for some investors. Chevron Stock Analysis: Why Jim Cramer Advises Holding CVX Despite Insider Sales

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.