Chevron (NYSE:CVX) Rating Lowered to Hold at DZ Bank

Chevron (NYSE:CVXGet Free Report) was downgraded by DZ Bank from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Marketbeat.com reports. They presently have a $160.00 target price on the oil and gas company’s stock. DZ Bank’s price objective indicates a potential upside of 5.20% from the company’s current price.

Several other research firms also recently issued reports on CVX. Mizuho dropped their price target on shares of Chevron from $215.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday, November 14th. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Bank of America raised Chevron from a “neutral” rating to a “buy” rating and upped their target price for the company from $190.00 to $200.00 in a research report on Monday, October 30th. BNP Paribas raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $190.00 price target for the company in a research report on Thursday, October 12th. Finally, Morgan Stanley cut their price target on shares of Chevron from $203.00 to $201.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.95.

Check Out Our Latest Report on Chevron

Chevron Trading Down 0.2 %

Shares of CVX opened at $152.10 on Tuesday. The firm’s 50-day moving average is $147.54 and its two-hundred day moving average is $154.65. The firm has a market capitalization of $287.12 billion, a P/E ratio of 13.39, a PEG ratio of 0.82 and a beta of 1.13. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.12. Chevron has a twelve month low of $139.62 and a twelve month high of $174.07.

Chevron (NYSE:CVXGet Free Report) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same period in the previous year, the firm posted $4.09 earnings per share. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year. On average, research analysts predict that Chevron will post 12.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chevron

Large investors have recently added to or reduced their stakes in the business. Cantor Fitzgerald Investment Advisor L.P grew its position in Chevron by 85.1% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after purchasing an additional 73,141 shares during the last quarter. Axiom Financial Strategies LLC raised its stake in shares of Chevron by 25.2% in the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after buying an additional 1,476 shares during the period. GQG Partners LLC increased its stake in shares of Chevron by 4.7% in the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after purchasing an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC increased its stake in Chevron by 43.5% in the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after buying an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Chevron by 13.8% in the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after purchasing an additional 250,840 shares during the period. Institutional investors own 68.87% of the company’s stock.

Chevron Company Profile

(Get Free Report)

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

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Analyst Recommendations for Chevron (NYSE:CVX)

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