Chevron (NYSE:CVX) Upgraded at Freedom Broker

Chevron (NYSE:CVX) was upgraded by analysts at Freedom Broker from a “sell” rating to a “hold” rating in a report released on Thursday, Benzinga reports. The firm currently has a $218.00 target price on the oil and gas company’s stock. Freedom Broker‘s price target would suggest a potential upside of 2.39% from the stock’s current price.

Several other equities analysts also recently weighed in on CVX. Royal Bank Of Canada boosted their target price on Chevron from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, September 24th. BMO Capital Markets raised their price target on Chevron from $210.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. Sanford C. Bernstein lifted their price objective on shares of Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Barclays boosted their price objective on shares of Chevron from $208.00 to $244.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Weiss Ratings cut shares of Chevron from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.88.

Chevron Trading Down 1.9%

Shares of NYSE CVX opened at $212.92 on Thursday. The business’s 50 day moving average is $214.66 and its two-hundred day moving average is $194.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. Chevron has a 1-year low of $146.49 and a 1-year high of $236.48. The stock has a market capitalization of $420.68 billion, a P/E ratio of 15.58, a PEG ratio of 0.51 and a beta of 0.47.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.87 by $0.41. The business had revenue of $65.24 billion for the quarter, compared to the consensus estimate of $61.82 billion. Chevron had a return on equity of 14.64% and a net margin of 11.56%. The company’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.85 earnings per share. As a group, research analysts expect that Chevron will post 18.56 EPS for the current year.

Insider Transactions at Chevron

In related news, insider Andrew Walz sold 16,800 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the transaction, the insider owned 14 shares in the company, valued at $2,814.84. The trade was a 99.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider R. Pate sold 40,700 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the transaction, the insider owned 8,791 shares of the company’s stock, valued at approximately $1,992,480.15. This trade represents a 82.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 379,470 shares of company stock valued at $77,216,415 in the last 90 days. Insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Chevron

A number of large investors have recently made changes to their positions in CVX. Main Street Group LTD acquired a new position in shares of Chevron in the first quarter worth about $28,000. Kilter Group LLC acquired a new stake in Chevron during the 2nd quarter valued at approximately $28,000. Principia Wealth Advisory LLC grew its stake in Chevron by 49.6% during the 2nd quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 60 shares in the last quarter. Financial Connections Group Inc. grew its stake in Chevron by 129.3% during the 1st quarter. Financial Connections Group Inc. now owns 211 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 119 shares in the last quarter. Finally, Legacy Wealth Managment LLC ID increased its holdings in Chevron by 81.8% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 220 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 99 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Company Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.