Chevron (NYSE:CVX) Given New $180.00 Price Target at Barclays

Chevron (NYSE:CVX) had its target price boosted by stock analysts at Barclays from $172.00 to $180.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s target price suggests a potential downside of 8.83% from the stock’s previous close.

CVX has been the subject of a number of other research reports. Freedom Capital downgraded shares of Chevron from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 6th. Bank of America raised their target price on shares of Chevron from $188.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Wells Fargo & Company boosted their target price on shares of Chevron from $196.00 to $204.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Scotiabank reaffirmed a “sector perform” rating and set a $168.00 price target on shares of Chevron in a research note on Friday, January 16th. Finally, Citigroup lifted their price target on shares of Chevron from $179.00 to $210.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Chevron has an average rating of “Hold” and a consensus price target of $182.68.

Chevron Trading Up 0.3%

Shares of NYSE:CVX traded up $0.60 during midday trading on Monday, reaching $197.42. The company’s stock had a trading volume of 2,355,108 shares, compared to its average volume of 12,300,174. The firm has a market cap of $393.94 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 1.82 and a beta of 0.67. The business has a 50 day moving average price of $177.33 and a 200 day moving average price of $162.07. Chevron has a 1 year low of $132.04 and a 1 year high of $198.88. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21.

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

Insider Buying and Selling

In other news, insider R. Hewitt Pate sold 47,200 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $192.12, for a total value of $9,068,064.00. Following the transaction, the insider owned 8,558 shares of the company’s stock, valued at approximately $1,644,162.96. This trade represents a 84.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael K. Wirth sold 272,624 shares of Chevron stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $189.35, for a total transaction of $51,621,354.40. Following the transaction, the chief executive officer owned 31,266 shares in the company, valued at $5,920,217.10. The trade was a 89.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,099,397 shares of company stock valued at $196,196,468. 0.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

Chevron Company Profile

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.