Chevron (NYSE:CVX) Now Covered by Analysts at Bank of America

Bank of America assumed coverage on shares of Chevron (NYSE:CVX) in a report released on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $168.00 price target on the oil and gas company’s stock. Bank of America‘s price objective would suggest a potential upside of 11.45% from the stock’s previous close.

A number of other brokerages also recently commented on CVX. Truist Financial decreased their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. UBS Group lifted their price objective on shares of Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Scotiabank decreased their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Barclays reduced their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.07.

Chevron Stock Down 0.3 %

Shares of CVX stock opened at $150.74 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. Chevron has a 1 year low of $135.37 and a 1 year high of $170.17. The firm’s fifty day moving average price is $146.07 and its two-hundred day moving average price is $153.71. The firm has a market capitalization of $277.81 billion, a P/E ratio of 13.87, a PEG ratio of 2.74 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same period last year, the business earned $3.08 EPS. The business’s revenue was up 4.7% on a year-over-year basis. On average, equities analysts predict that Chevron will post 11.06 EPS for the current fiscal year.

Institutional Trading of Chevron

A number of institutional investors have recently bought and sold shares of the business. Pacifica Partners Inc. boosted its holdings in Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 63 shares during the period. Private Wealth Management Group LLC boosted its holdings in Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after purchasing an additional 63 shares during the period. Montz Harcus Wealth Management LLC raised its position in shares of Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after buying an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC raised its position in shares of Chevron by 0.7% in the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after buying an additional 64 shares in the last quarter. Finally, Ellenbecker Investment Group raised its position in shares of Chevron by 1.5% in the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after buying an additional 65 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

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.