Chevron (CVX) Downgraded to “Hold” at HSBC

HSBC cut shares of Chevron (NYSE:CVX) from a buy rating to a hold rating in a report published on Thursday morning, Marketbeat.com reports.

CVX has been the subject of several other research reports. Morgan Stanley upped their price target on shares of Chevron from $120.00 to $130.00 and gave the company an overweight rating in a report on Wednesday, October 18th. Royal Bank of Canada set a $110.00 price target on shares of Chevron and gave the company a sell rating in a report on Wednesday, December 20th. Barclays upped their price target on shares of Chevron from $120.00 to $130.00 and gave the company an overweight rating in a report on Tuesday, October 10th. Jefferies Group reiterated a buy rating and issued a $137.00 price target on shares of Chevron in a report on Thursday, October 19th. Finally, Zacks Investment Research upgraded shares of Chevron from a hold rating to a buy rating and set a $129.00 price target for the company in a report on Friday, November 17th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $126.06.

Chevron (NYSE CVX) opened at $131.30 on Thursday. The firm has a market cap of $249,387.80, a P/E ratio of 38.28, a PEG ratio of 2.80 and a beta of 1.21. Chevron has a 1-year low of $102.55 and a 1-year high of $133.88. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.04. The company had revenue of $36.21 billion during the quarter, compared to analysts’ expectations of $34.06 billion. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share. sell-side analysts expect that Chevron will post 4.37 EPS for the current fiscal year.

In other Chevron news, CFO Patricia E. Yarrington sold 13,143 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the sale, the chief financial officer now directly owns 17,981 shares of the company’s stock, valued at $2,067,994.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Patricia E. Yarrington sold 116,857 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $115.29, for a total transaction of $13,472,443.53. Following the sale, the chief financial officer now directly owns 39,506 shares in the company, valued at $4,554,646.74. The disclosure for this sale can be found here. Insiders have sold 288,500 shares of company stock valued at $33,480,822 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CVX. Steward Partners Investment Advisory LLC raised its position in shares of Chevron by 11.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 57,267 shares of the oil and gas company’s stock valued at $7,169,000 after purchasing an additional 6,061 shares during the period. Winslow Evans & Crocker Inc. raised its position in shares of Chevron by 2.1% in the fourth quarter. Winslow Evans & Crocker Inc. now owns 25,882 shares of the oil and gas company’s stock valued at $3,240,000 after purchasing an additional 532 shares during the period. Plancorp LLC raised its position in shares of Chevron by 15.5% in the fourth quarter. Plancorp LLC now owns 16,893 shares of the oil and gas company’s stock valued at $2,118,000 after purchasing an additional 2,266 shares during the period. V Wealth Management LLC raised its position in shares of Chevron by 20.3% in the fourth quarter. V Wealth Management LLC now owns 6,051 shares of the oil and gas company’s stock valued at $796,000 after purchasing an additional 1,022 shares during the period. Finally, TRUE Private Wealth Advisors raised its position in shares of Chevron by 32.5% in the fourth quarter. TRUE Private Wealth Advisors now owns 12,669 shares of the oil and gas company’s stock valued at $1,586,000 after purchasing an additional 3,105 shares during the period. 63.87% of the stock is currently owned by hedge funds and other institutional investors.

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Chevron Company Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Analyst Recommendations for Chevron (NYSE:CVX)

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