Bank of America upgraded shares of Chevron (NYSE:CVX) from a neutral rating to a buy rating in a research note issued to investors on Friday, Briefing.com Automated Import reports. Bank of America currently has $140.00 price target on the oil and gas company’s stock.

Several other analysts have also recently weighed in on the stock. Credit Suisse Group reiterated a buy rating and issued a $130.00 price objective on shares of Chevron in a research note on Wednesday, January 23rd. Tudor Pickering initiated coverage on shares of Chevron in a research note on Friday, March 1st. They issued a buy rating and a $133.00 price objective for the company. UBS Group upgraded shares of Chevron from a neutral rating to a buy rating and set a $112.95 price objective for the company in a research note on Friday, January 18th. Mizuho reiterated a buy rating and issued a $140.00 price objective on shares of Chevron in a research note on Wednesday, March 6th. Finally, Zacks Investment Research cut shares of Chevron from a hold rating to a strong sell rating in a research note on Thursday, January 3rd. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Chevron presently has a consensus rating of Buy and an average target price of $136.20.

NYSE CVX opened at $120.14 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.25 and a debt-to-equity ratio of 0.18. The stock has a market cap of $227.55 billion, a PE ratio of 14.56, a P/E/G ratio of 3.79 and a beta of 1.03. Chevron has a 52-week low of $100.22 and a 52-week high of $131.08.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 1st. The oil and gas company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. The company had revenue of $42.35 billion during the quarter, compared to analysts’ expectations of $41.46 billion. Chevron had a net margin of 8.91% and a return on equity of 9.78%. Chevron’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.64 EPS. As a group, equities research analysts expect that Chevron will post 6.68 earnings per share for the current year.

In other Chevron news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $125.60, for a total value of $596,600.00. Following the transaction, the insider now directly owns 4,750 shares of the company’s stock, valued at approximately $596,600. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeanette L. Ourada sold 7,200 shares of the firm’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $116.50, for a total transaction of $838,800.00. Following the completion of the transaction, the insider now directly owns 7,200 shares in the company, valued at $838,800. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,700 shares of company stock worth $2,028,390. Insiders own 0.46% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in CVX. Steinberg Global Asset Management grew its holdings in shares of Chevron by 17.6% during the 1st quarter. Steinberg Global Asset Management now owns 74,399 shares of the oil and gas company’s stock valued at $8,484,000 after purchasing an additional 11,142 shares during the last quarter. Flagship Harbor Advisors LLC grew its holdings in shares of Chevron by 11.9% during the 1st quarter. Flagship Harbor Advisors LLC now owns 13,602 shares of the oil and gas company’s stock valued at $1,675,000 after purchasing an additional 1,446 shares during the last quarter. Welch Group LLC grew its holdings in shares of Chevron by 1.9% during the 1st quarter. Welch Group LLC now owns 234,702 shares of the oil and gas company’s stock valued at $28,911,000 after purchasing an additional 4,449 shares during the last quarter. Hodges Capital Management Inc. lifted its position in shares of Chevron by 4.3% in the 1st quarter. Hodges Capital Management Inc. now owns 15,926 shares of the oil and gas company’s stock worth $1,962,000 after purchasing an additional 652 shares during the period. Finally, TIAA FSB lifted its position in shares of Chevron by 0.6% in the 1st quarter. TIAA FSB now owns 254,449 shares of the oil and gas company’s stock worth $31,343,000 after purchasing an additional 1,547 shares during the period. 66.07% of the stock is currently owned by hedge funds and other institutional investors.

About Chevron

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Analyst Recommendations for Chevron (NYSE:CVX)

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