Mizuho Reiterates Neutral Rating for Chevron (NYSE:CVX)

Posted by AM Reporter Staff on Mar 19th, 2023

Chevron (NYSE:CVX – Get Rating)‘s stock had its “neutral” rating reaffirmed by Mizuho in a research note issued on Friday, Benzinga reports. They currently have a $206.00 target price on the oil and gas company’s stock. Mizuho’s price objective indicates a potential upside of 35.22% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. StockNews.com started coverage on Chevron in a research report on Thursday. They set a “hold” rating on the stock. Citigroup increased their price target on Chevron from $155.00 to $180.00 in a report on Tuesday, November 22nd. Barclays increased their price target on Chevron from $196.00 to $212.00 and gave the stock an “overweight” rating in a report on Tuesday, January 3rd. Wells Fargo & Company reduced their price target on Chevron from $204.00 to $199.00 and set an “overweight” rating on the stock in a report on Thursday, March 2nd. Finally, Raymond James reduced their price target on Chevron from $215.00 to $212.00 and set an “outperform” rating on the stock in a report on Monday, January 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $189.50.

Chevron Trading Down 1.3 %

Shares of CVX stock opened at $152.34 on Friday. Chevron has a 1 year low of $132.54 and a 1 year high of $189.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.47 and a quick ratio of 1.23. The stock’s 50 day simple moving average is $169.06 and its two-hundred day simple moving average is $169.44. The company has a market cap of $290.46 billion, a PE ratio of 8.33, a price-to-earnings-growth ratio of 0.73 and a beta of 1.16.

Chevron (NYSE:CVX – Get Rating) last issued its quarterly earnings data on Friday, January 27th. The oil and gas company reported $4.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.16 by ($0.07). Chevron had a net margin of 14.40% and a return on equity of 23.52%. The company had revenue of $56.47 billion for the quarter, compared to analysts’ expectations of $53.97 billion. During the same quarter last year, the company earned $2.56 earnings per share. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. Research analysts predict that Chevron will post 14.87 earnings per share for the current year.

Chevron announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 25th that authorizes the company to buyback $75.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 21.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Chevron

In other Chevron news, VP Rhonda J. Morris sold 19,666 shares of the stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $170.00, for a total transaction of $3,343,220.00. Following the sale, the vice president now owns 3,967 shares of the company’s stock, valued at approximately $674,390. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Institutional Trading of Chevron

Institutional investors have recently made changes to their positions in the business. Rebalance LLC acquired a new stake in shares of Chevron in the 4th quarter worth $26,000. Western Pacific Wealth Management LP acquired a new stake in shares of Chevron in the 4th quarter worth $37,000. Red Tortoise LLC acquired a new stake in shares of Chevron in the 4th quarter worth $37,000. Worth Asset Management LLC acquired a new stake in Chevron during the 1st quarter worth about $36,000. Finally, JDM Financial Group LLC acquired a new stake in Chevron during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 69.37% of the company’s stock.

Chevron Company Profile

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Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.