Chevron (NYSE:CVX) Raised to “Buy” at DZ Bank

Chevron (NYSE:CVX) was upgraded by equities research analysts at DZ Bank from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, FinViz reports. The firm presently has a $170.00 price target on the oil and gas company’s stock. DZ Bank’s target price would suggest a potential upside of 10.41% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Truist Financial raised their price target on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday. Scotiabank lowered their price target 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. Royal Bank of Canada boosted their target price on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday. Barclays increased their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Mizuho cut their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Trading Up 0.6 %

Shares of CVX stock opened at $153.97 on Tuesday. Chevron has a 12 month low of $135.37 and a 12 month high of $167.11. The company has a market cap of $281.60 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 3.39 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $147.07 and its two-hundred day moving average is $152.91.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 8.44% and a return on equity of 13.07%. The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the previous year, the company earned $3.08 earnings per share. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts predict that Chevron will post 10.7 EPS for the current year.

Institutional Investors Weigh In On Chevron

A number of large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. acquired a new position in Chevron during the first quarter worth about $566,000. Stack Financial Management Inc increased its position in shares of Chevron by 31.2% during the first quarter. Stack Financial Management Inc now owns 283,936 shares of the oil and gas company’s stock worth $44,788,000 after buying an additional 67,550 shares during the period. Graypoint LLC raised its position in shares of Chevron by 11.0% in the 1st quarter. Graypoint LLC now owns 29,007 shares of the oil and gas company’s stock worth $4,576,000 after acquiring an additional 2,880 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Chevron by 5.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 249,039 shares of the oil and gas company’s stock valued at $39,283,000 after purchasing an additional 12,126 shares in the last quarter. Finally, Wright Investors Service Inc. increased its holdings in Chevron by 0.5% in the first quarter. Wright Investors Service Inc. now owns 22,695 shares of the oil and gas company’s stock worth $3,580,000 after purchasing an additional 117 shares in the last quarter. Institutional investors and hedge funds 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.