Chevron (NYSE:CVX) Price Target Raised to $226.00

Chevron (NYSE:CVX) had its price objective upped by stock analysts at Morgan Stanley from $218.00 to $226.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s price objective points to a potential upside of 2.50% from the stock’s previous close.

A number of other brokerages have also recently issued reports on CVX. Argus upped their price objective on shares of Chevron from $206.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. UBS Group raised their target price on Chevron from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 8th. Wells Fargo & Company boosted their price target on Chevron from $226.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Wall Street Zen upgraded Chevron from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, BMO Capital Markets increased their price objective on Chevron from $210.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $213.42.

Chevron Stock Down 0.7%

NYSE:CVX traded down $1.54 during mid-day trading on Thursday, reaching $220.50. The stock had a trading volume of 2,429,079 shares, compared to its average volume of 10,407,937. The stock has a market cap of $435.65 billion, a P/E ratio of 21.13, a PEG ratio of 0.60 and a beta of 0.53. The business’s 50 day moving average is $206.20 and its 200 day moving average is $193.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98. Chevron has a fifty-two week low of $146.49 and a fifty-two week high of $223.46.

Chevron (NYSE:CVX) last posted its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. During the same period in the previous year, the company earned $1.77 earnings per share. The company’s revenue was up 57.4% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron will post 17.59 earnings per share for the current year.

Insider Activity

In other news, insider R. Pate sold 2,470 shares of Chevron stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $205.11, for a total value of $506,621.70. Following the transaction, the insider directly owned 10,794 shares in the company, valued at approximately $2,213,957.34. The trade was a 18.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew Walz sold 16,800 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider directly owned 14 shares of the company’s stock, valued at $2,814.84. This represents a 99.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,152,582 shares of company stock valued at $225,853,661 over the last three months. 0.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Midwest Capital Advisors LLC acquired a new stake in Chevron during the 1st quarter worth $25,000. Phillip James Consulting Co. acquired a new position in shares of Chevron in the 4th quarter valued at $26,000. Basso Capital Management L.P. acquired a new position in shares of Chevron in the 4th quarter valued at $27,000. Main Street Group LTD acquired a new position in shares of Chevron in the 1st quarter valued at $28,000. Finally, Kilter Group LLC bought a new position in shares of Chevron in the 2nd quarter worth $28,000. 72.42% of the stock is owned by institutional investors.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: An analyst upgrade helped drive Chevron shares to a new one-year high, reinforcing the bullish view on the company’s earnings, cash generation and dividend outlook. Chevron Sets New 1-Year High on Analyst Upgrade
• Positive Sentiment: Wall Street expects a sharp, potentially triple-digit increase in third-quarter earnings when Chevron reports by the end of October. Stronger commodity prices and operating performance could provide a near-term catalyst. Chevron Next Earnings Report Expectations
• Positive Sentiment: CEO Mike Wirth said commercial inventories, emergency reserves and previously sanctioned oil supplies have been substantially used up following the Iran-related supply shock. The reduced buffer could keep oil and refined-product prices elevated, benefiting Chevron’s upstream and downstream businesses, although diesel relief may not arrive until 2027. Chevron CEO Warns Oil Buffers Are Drained
• Positive Sentiment: Chevron is among the energy companies investing in Venezuela’s oil revival, potentially creating long-term production growth as the United States seeks alternatives to disrupted supply routes. Venezuela Oil Revival
• Positive Sentiment: Chevron-linked technical expertise helped deliver first commercial gas from Australia’s Beetaloo Basin, supporting future LNG supply and potential growth in the company’s international gas portfolio. Chevron and Beetaloo Gas
• Neutral Sentiment: Chevron and Shell are restoring U.S. Gulf production after Hurricane Isaias, with no reported facility damage. The quick recovery limits operational disruption but offers little incremental upside. Gulf Oil Production Recovery
• Negative Sentiment: Some valuation analysis argues that Chevron’s strong rally has moved the stock ahead of what its cash flows justify, while another review notes that its long-term performance still trails the broader market. These concerns may encourage profit-taking near record levels. Chevron Cash Flow Valuation

About Chevron

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.