Citigroup Forecasts Strong Price Appreciation for Chevron (NYSE:CVX) Stock

Chevron (NYSE:CVX) had its price objective boosted by research analysts at Citigroup from $179.00 to $210.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the oil and gas company’s stock. Citigroup’s price target suggests a potential upside of 11.16% from the company’s previous close.

Several other brokerages also recently issued reports on CVX. TD Cowen raised their price objective on shares of Chevron from $160.00 to $168.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, January 21st. BMO Capital Markets reissued an “outperform” rating and issued a $190.00 target price on shares of Chevron in a research report on Monday, February 2nd. Bank of America lifted their price objective on shares of Chevron from $188.00 to $206.00 and gave the company a “buy” rating in a research report on Monday. Finally, Jefferies Financial Group upped their target price on Chevron from $174.00 to $189.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Thirteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $178.95.

Chevron Stock Performance

CVX stock traded up $2.16 during midday trading on Monday, reaching $188.92. The company had a trading volume of 9,921,753 shares, compared to its average volume of 11,894,664. The stock has a 50 day moving average price of $169.52 and a 200 day moving average price of $159.64. The firm has a market capitalization of $376.97 billion, a PE ratio of 28.36, a P/E/G ratio of 12.36 and a beta of 0.67. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.21. Chevron has a fifty-two week low of $132.04 and a fifty-two week high of $191.44.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. The company had revenue of $45.79 billion for the quarter, compared to the consensus estimate of $48.18 billion. Chevron had a net margin of 6.51% and a return on equity of 7.89%. Chevron’s revenue was down 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.06 EPS. Analysts anticipate that Chevron will post 10.79 earnings per share for the current year.

Insider Transactions at Chevron

In related news, CFO Eimear P. Bonner sold 32,100 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the transaction, the chief financial officer owned 4,366 shares in the company, valued at $764,093.66. The trade was a 88.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider R. Hewitt Pate sold 41,134 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $176.40, for a total value of $7,256,037.60. Following the completion of the transaction, the insider owned 4,169 shares of the company’s stock, valued at approximately $735,411.60. This trade represents a 90.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 534,898 shares of company stock worth $89,543,711. Company insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Chevron by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after acquiring an additional 27,961,463 shares during the last quarter. State Street Corp raised its stake in Chevron by 9.1% in the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after buying an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc lifted its stake in shares of Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after purchasing an additional 8,091,570 shares during the last quarter. Geode Capital Management LLC lifted its position in Chevron by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after acquiring an additional 134,890 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Chevron by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock worth $5,492,377,000 after buying an additional 961,341 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Geopolitical-driven oil rally: Crude prices surged (reports up to ~13%) after strikes and closures near the Strait of Hormuz, lifting major integrated oil names including Chevron as higher oil prices boost near-term revenue and cash flow expectations. CVX Shares Surge in Early Trading as Crude Oil Soars on Middle East Turmoil
• Positive Sentiment: Analyst upgrade and higher target: Bank of America raised its price target on CVX from $188 to $206 and set a “buy” rating, providing authoritative buy-side validation and upside guidance that supports further gains. Benzinga article
• Positive Sentiment: Sector momentum: Market commentary (Barron’s) highlights why Exxon, Chevron and peers could continue to rally as energy prices rise, reinforcing investor rotation into energy stocks. Exxon and Chevron Soar. Why Energy Stocks Could Go Even Higher.
• Neutral Sentiment: Longer-term asset upside but execution risk: Chevron is in talks to operate Iraq’s West Qurna 2 field and is expanding in Venezuela and the Mediterranean — a strategic positive for reserves but with political and execution risk that makes near-term valuation impact uncertain. Chevron’s Iraq Talks And New Fields Test Valuation And Risk Profile
• Neutral Sentiment: Mixed consensus: Brokerages’ average rating remains around “Hold,” suggesting analysts see upside but also risks/capex and cyclicality that temper unanimous bullishness. Chevron Receives Average Rating of Hold
• Negative Sentiment: Insider selling noted: Coverage points to roughly $89M of recent insider sales even as commentators (e.g., Jim Cramer) say hold — insider activity can weigh on sentiment and be viewed as a governance/conviction red flag. Chevron Stock Analysis: Why Jim Cramer Advises Holding CVX Despite Insider Sales
• Negative Sentiment: Berkshire omission: Berkshire’s new CEO omitted Chevron from his list of core holdings, a symbolic signal that may reduce confidence among some long-term institutional investors. Berkshire Hathaway Omits Bank of America And Chevron

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.