Chevron (NYSE:CVX) Earns Outperform Rating from Royal Bank of Canada

Chevron (NYSE:CVX)‘s stock had its “outperform” rating reaffirmed by research analysts at Royal Bank of Canada in a research report issued on Monday,Benzinga reports. They presently have a $175.00 target price on the oil and gas company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 16.36% from the company’s current price.

A number of other equities research analysts have also weighed in on CVX. Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday. Barclays increased their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Finally, Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.67.

Chevron Price Performance

Shares of CVX stock traded up $1.21 during trading hours on Monday, reaching $150.40. The stock had a trading volume of 2,813,624 shares, compared to its average volume of 7,778,402. The stock’s fifty day simple moving average is $153.19 and its 200 day simple moving average is $151.02. The firm has a market capitalization of $270.28 billion, a PE ratio of 15.46, a PEG ratio of 1.29 and a beta of 1.11. 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 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the previous year, the business posted $3.45 EPS. On average, equities research analysts predict that Chevron will post 11.45 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CVX. Advyzon Investment Management LLC bought a new position in shares of Chevron during the 4th quarter valued at approximately $543,000. Unionview LLC boosted its position in shares of Chevron by 3.4% in the fourth quarter. Unionview LLC now owns 2,149 shares of the oil and gas company’s stock worth $311,000 after purchasing an additional 70 shares during the period. Sunpointe LLC raised its position in shares of Chevron by 16.3% during the 4th quarter. Sunpointe LLC now owns 3,695 shares of the oil and gas company’s stock valued at $535,000 after purchasing an additional 518 shares during the period. LMG Wealth Partners LLC increased its stake in Chevron by 2.9% in the 4th quarter. LMG Wealth Partners LLC now owns 70,047 shares of the oil and gas company’s stock worth $10,146,000 after buying an additional 1,943 shares in the last quarter. Finally, Corps Capital Advisors LLC purchased a new position in shares of Chevron in the fourth quarter valued at about $767,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Company Profile

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.