Chevron (NYSE:CVX) Given New $230.00 Price Target at Mizuho

Chevron (NYSE:CVX) had its target price upped by Mizuho from $225.00 to $230.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the oil and gas company’s stock. Mizuho’s price target indicates a potential upside of 24.53% from the company’s current price.

Several other research analysts have also commented on the stock. Piper Sandler lifted their price objective on shares of Chevron from $179.00 to $242.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Royal Bank Of Canada reissued an “outperform” rating and set a $220.00 target price on shares of Chevron in a research note on Tuesday, May 5th. Bank of America boosted their target price on shares of Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Scotiabank boosted their target price on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $190.00 target price on shares of Chevron in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.70.

Chevron Stock Down 3.5%

NYSE CVX opened at $184.69 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $193.18 and a two-hundred day moving average of $175.24. The firm has a market capitalization of $367.83 billion, a price-to-earnings ratio of 32.01, a PEG ratio of 0.63 and a beta of 0.51. Chevron has a 52 week low of $135.21 and a 52 week high of $214.71.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.18 earnings per share. On average, analysts predict that Chevron will post 15.74 earnings per share for the current year.

Insider Transactions at Chevron

In related news, insider R. Hewitt Pate sold 40,200 shares of Chevron stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $213.30, for a total value of $8,574,660.00. Following the completion of the sale, the insider directly owned 8,638 shares in the company, valued at $1,842,485.40. The trade was a 82.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $187.92, for a total value of $26,233,632.00. Following the completion of the sale, the insider owned 11,337 shares of the company’s stock, valued at $2,130,449.04. The trade was a 92.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,179,699 shares of company stock valued at $224,675,517 over the last three months. 0.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Chevron

Institutional investors and hedge funds have recently made changes to their positions in the company. Midwest Capital Advisors LLC bought a new stake in shares of Chevron in the first quarter valued at about $25,000. Core Wealth Advisors LLC bought a new stake in shares of Chevron in the fourth quarter valued at about $26,000. Phillip James Consulting Co. bought a new stake in shares of Chevron in the fourth quarter valued at about $26,000. Basso Capital Management L.P. bought a new stake in shares of Chevron in the fourth quarter valued at about $27,000. Finally, Karpus Management Inc. bought a new position in Chevron in the fourth quarter worth about $27,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.