Mizuho Issues Positive Forecast for Chevron (NYSE:CVX) Stock Price

Chevron (NYSE:CVX) had its price objective raised by equities research analysts at Mizuho from $191.00 to $204.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the oil and gas company’s stock. Mizuho’s price target points to a potential upside of 31.15% from the stock’s current price.

CVX has been the topic of a number of other research reports. TD Cowen lifted their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. UBS Group upped their target price on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Wells Fargo & Company assumed coverage on shares of Chevron in a research note on Friday, October 17th. They set an “overweight” rating and a $190.00 target price for the company. Finally, Barclays cut their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $166.25.

Chevron Trading Up 1.5%

NYSE:CVX traded up $2.23 during mid-day trading on Thursday, reaching $155.55. 2,949,653 shares of the company’s stock traded hands, compared to its average volume of 8,796,805. Chevron has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The company has a 50 day moving average price of $155.24 and a 200-day moving average price of $150.07. The firm has a market capitalization of $313.20 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.14. The firm had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.48 earnings per share. On average, sell-side analysts predict that Chevron will post 10.79 earnings per share for the current year.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of Chevron

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FourThought Financial Partners LLC lifted its stake in Chevron by 2.3% in the 3rd quarter. FourThought Financial Partners LLC now owns 135,643 shares of the oil and gas company’s stock worth $21,064,000 after purchasing an additional 3,081 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Chevron in the third quarter valued at $49,550,000. Winthrop Capital Management LLC raised its stake in Chevron by 4.8% during the third quarter. Winthrop Capital Management LLC now owns 6,061 shares of the oil and gas company’s stock valued at $941,000 after purchasing an additional 277 shares in the last quarter. PFC Capital Group Inc. lifted its position in Chevron by 1.5% during the third quarter. PFC Capital Group Inc. now owns 4,680 shares of the oil and gas company’s stock valued at $726,000 after purchasing an additional 67 shares during the last quarter. Finally, Capital International Inc. CA lifted its position in Chevron by 572.9% during the third quarter. Capital International Inc. CA now owns 51,017 shares of the oil and gas company’s stock valued at $7,922,000 after purchasing an additional 43,435 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

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.