Chevron (NYSE:CVX) Lowered to Sell Rating by DZ Bank

Chevron (NYSE:CVX) was downgraded by analysts at DZ Bank from a “buy” rating to a “sell” rating in a note issued to investors on Tuesday, Marketbeat reports. They currently have a $130.00 price objective on the oil and gas company’s stock. DZ Bank’s price objective points to a potential downside of 4.04% from the stock’s previous close.

A number of other analysts also recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday. UBS Group cut their target price on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Raymond James lowered their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Barclays cut shares of Chevron from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $171.00 to $152.00 in a report on Wednesday, April 23rd. Finally, TD Cowen decreased their price target on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Monday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $161.25.

Chevron Trading Down 2.2 %

Shares of NYSE:CVX opened at $135.48 on Tuesday. The company’s 50-day moving average price is $149.37 and its 200 day moving average price is $152.46. Chevron has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a market cap of $238.53 billion, a PE ratio of 13.94, a P/E/G ratio of 1.46 and a beta of 0.83. 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 (NYSE:CVX) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same period in the prior year, the company posted $2.93 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Chevron will post 10.79 earnings per share for the current year.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Institutional Trading of Chevron

A number of large investors have recently bought and sold shares of CVX. Life Planning Partners Inc acquired a new position in shares of Chevron in the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new position in Chevron in the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. acquired a new position in Chevron in the fourth quarter worth $29,000. 10Elms LLP bought a new stake in shares of Chevron during the fourth quarter worth $29,000. Finally, Fairway Wealth LLC increased its stake in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares in the last quarter. 72.42% of the stock is currently owned by 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.