Truist Financial Lowers Chevron (NYSE:CVX) Price Target to $156.00

Chevron (NYSE:CVX) had its price target reduced by equities researchers at Truist Financial from $166.00 to $156.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the oil and gas company’s stock. Truist Financial’s price target points to a potential upside of 1.24% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Piper Sandler increased their target price on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, HSBC increased their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.67.

Chevron Stock Down 1.8 %

CVX stock opened at $154.09 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. Chevron has a 52-week low of $139.62 and a 52-week high of $171.70. The company has a 50-day moving average of $157.00 and a two-hundred day moving average of $155.51. The stock has a market capitalization of $283.98 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 2.49 and a beta of 1.10.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the prior year, the company earned $3.55 earnings per share. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron will post 12.6 EPS for the current year.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders sold a total of 16,746 shares of company stock valued at $2,727,971 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

Institutional Trading of Chevron

A number of institutional investors have recently bought and sold shares of CVX. Raymond James Financial Services Advisors Inc. grew its holdings in Chevron by 6.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,721,668 shares of the oil and gas company’s stock worth $256,804,000 after acquiring an additional 100,300 shares during the period. Horizon Bancorp Inc. IN boosted its position in shares of Chevron by 9.1% during the fourth quarter. Horizon Bancorp Inc. IN now owns 1,241 shares of the oil and gas company’s stock worth $185,000 after purchasing an additional 104 shares in the last quarter. Cowa LLC boosted its position in shares of Chevron by 6.7% during the fourth quarter. Cowa LLC now owns 3,745 shares of the oil and gas company’s stock worth $559,000 after purchasing an additional 236 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Chevron by 24.6% during the fourth quarter. Pacer Advisors Inc. now owns 2,780,511 shares of the oil and gas company’s stock worth $414,741,000 after purchasing an additional 548,378 shares in the last quarter. Finally, Exeter Financial LLC boosted its position in shares of Chevron by 1.8% during the fourth quarter. Exeter Financial LLC now owns 25,326 shares of the oil and gas company’s stock worth $3,690,000 after purchasing an additional 439 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

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.