Barclays Cuts Chevron (NYSE:CVX) Price Target to $171.00

Chevron (NYSE:CVX) had its target price dropped by analysts at Barclays from $174.00 to $171.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Barclays‘s price target points to a potential upside of 11.67% from the stock’s current price.

Several other brokerages have also recently weighed in on CVX. Truist Financial reduced their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday. Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. UBS Group decreased their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday. Raymond James dropped their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Piper Sandler reduced their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Chevron Trading Up 2.5 %

Shares of NYSE:CVX opened at $153.14 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron has a 52-week low of $135.37 and a 52-week high of $167.11. The stock has a market cap of $275.20 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.29 and a beta of 1.11. The business has a 50-day moving average price of $152.79 and a 200-day moving average price of $150.89.

Chevron (NYSE:CVX) last released 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the company earned $3.45 earnings per share. Equities analysts predict that Chevron will post 11.45 EPS for the current year.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

Several large investors have recently modified their holdings of CVX. Life Planning Partners Inc purchased a new stake in Chevron during the 4th quarter worth approximately $25,000. Rational Advisors LLC acquired a new stake in shares of Chevron during the third quarter worth about $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the third quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new position in Chevron in the third quarter valued at $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of Chevron in the third quarter valued at approximately $31,000. Institutional investors and hedge funds 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.