Sanford C. Bernstein Boosts Chevron (NYSE:CVX) Price Target to $209.00

Chevron (NYSE:CVX) had its price target raised by research analysts at Sanford C. Bernstein from $204.00 to $209.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “market perform” rating on the oil and gas company’s stock. Sanford C. Bernstein’s price objective suggests a potential upside of 7.63% from the company’s previous close.

Several other research firms have also issued reports on CVX. The Goldman Sachs Group reissued a “buy” rating and set a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Scotiabank raised their price objective on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Bank of America lifted their price objective on Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Morgan Stanley cut their price objective on Chevron from $214.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Finally, Zacks Research lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target of $207.26.

Chevron Stock Performance

Shares of Chevron stock traded down $2.65 on Monday, hitting $194.18. 2,243,558 shares of the company’s stock were exchanged, compared to its average volume of 11,059,142. The company has a 50-day simple moving average of $181.95 and a 200-day simple moving average of $185.12. The stock has a market capitalization of $386.72 billion, a PE ratio of 18.63, a PEG ratio of 0.61 and a beta of 0.50. Chevron has a 1 year low of $146.49 and a 1 year high of $214.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.14%. The company’s revenue for the quarter was up 57.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.77 EPS. As a group, equities analysts anticipate that Chevron will post 15.64 EPS for the current year.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director owned 278,045 shares in the company, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chevron

Institutional investors have recently bought and sold shares of the stock. United Bank grew its holdings in Chevron by 7.7% during the 2nd quarter. United Bank now owns 11,079 shares of the oil and gas company’s stock valued at $1,586,000 after buying an additional 796 shares in the last quarter. Schnieders Capital Management LLC. boosted its position in shares of Chevron by 9.0% during the 2nd quarter. Schnieders Capital Management LLC. now owns 50,839 shares of the oil and gas company’s stock valued at $7,280,000 after acquiring an additional 4,214 shares during the last quarter. BNP Paribas boosted its position in shares of Chevron by 76.4% during the 2nd quarter. BNP Paribas now owns 441 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 191 shares during the last quarter. Osterweis Capital Management Inc. grew its holdings in shares of Chevron by 678.9% in the second quarter. Osterweis Capital Management Inc. now owns 1,363 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its position in Chevron by 3.6% in the second quarter. Main Street Financial Solutions LLC now owns 16,052 shares of the oil and gas company’s stock worth $2,299,000 after purchasing an additional 553 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Oil companies ended July with more cash than expected as crude prices rose roughly 25% during the month amid the U.S.-Iran conflict. Chevron could benefit through stronger upstream cash flow, although management may prioritize debt reduction and balance-sheet strengthening. Oil Companies Have Raked in Massive Profits During the Iran War but Their Future Will Be Expensive
• Positive Sentiment: Chevron is expanding its North American base-oils distribution network through agreements with HF Sinclair Lubricants & Specialties and Renkert Oil. The move should improve customer access and broaden the company’s downstream distribution capabilities. Chevron Strengthens North American Base Oils Distribution Network
• Positive Sentiment: Barclays raised its Chevron price target from $213 to $216 while maintaining an “equal weight” rating, indicating modest additional valuation potential but no bullish rating change. Barclays Raises Chevron Price Target
• Positive Sentiment: Recent earnings showed substantial operating momentum: Chevron reported $6.06 in quarterly EPS versus the $5.55 consensus, with revenue of $67.20 billion. Profit reached a multiyear high, strengthening the case for its dividend and shareholder-return strategy. Chevron Stock Rises as Profit Hits Six-Year High
• Neutral Sentiment: Chevron warned that refining-capacity shortages linked to conflicts in Russia and the Middle East could keep gasoline and other fuel prices elevated even if crude prices decline. This supports refining margins but could also increase political and consumer backlash. Chevron Warns Fuel Prices Could Stay High
• Negative Sentiment: Reports that U.S.-Iran negotiations may begin reduced fears of prolonged supply disruptions and triggered a sharp decline in crude prices. Lower oil prices are a direct earnings and cash-flow headwind for Chevron’s exploration and production business. Oil Stocks Drop as Iran Talks Trigger Crude Selloff
• Negative Sentiment: Berkshire Hathaway reportedly cut its Chevron stake by 35% under Greg Abel. Although the sale may reflect portfolio rebalancing rather than a fundamental judgment, it removes a high-profile source of investor support and may weigh on sentiment. Berkshire Hathaway Reduces Chevron Stake

About Chevron

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.