Chevron (NYSE:CVX) Research Coverage Started at Mizuho


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Equities researchers at Mizuho began coverage on shares of Chevron (NYSE:CVX) in a report issued on Tuesday, FinViz reports. The brokerage set a “buy” rating and a $107.00 price target on the oil and gas company’s stock. Mizuho’s price target suggests a potential upside of 14.75% from the company’s current price.

Other analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Chevron from a “sell” rating to a “hold” rating and set a $95.00 price target on the stock in a report on Tuesday, December 15th. Credit Suisse Group reissued an “outperform” rating and set a $97.00 target price on shares of Chevron in a research note on Tuesday, October 20th. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and set a $95.00 price target for the company. in a research note on Wednesday, September 23rd. Piper Sandler upgraded Chevron from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $108.00 to $113.00 in a research report on Friday, January 8th. Finally, Cowen boosted their price objective on Chevron from $88.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, December 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $103.28.

CVX stock opened at $93.25 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.26 and a quick ratio of 0.97. The firm’s fifty day simple moving average is $89.04 and its 200-day simple moving average is $83.07. Chevron has a 12 month low of $51.60 and a 12 month high of $117.29. The company has a market capitalization of $174.13 billion, a P/E ratio of -15.19, a price-to-earnings-growth ratio of 6.13 and a beta of 1.33.

Chevron (NYSE:CVX) last posted its earnings results on Wednesday, November 4th. The oil and gas company reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.38. Chevron had a positive return on equity of 1.75% and a negative net margin of 10.86%. The firm had revenue of $24.45 billion for the quarter, compared to analyst estimates of $26.34 billion. During the same period last year, the company earned $1.55 earnings per share. Chevron’s revenue for the quarter was down 32.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Chevron will post -0.09 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Ellenbecker Investment Group boosted its holdings in shares of Chevron by 3.0% in the 4th quarter. Ellenbecker Investment Group now owns 3,870 shares of the oil and gas company’s stock valued at $327,000 after buying an additional 113 shares in the last quarter. Front Street Capital Management Inc. lifted its holdings in shares of Chevron by 1.1% in the 3rd quarter. Front Street Capital Management Inc. now owns 11,000 shares of the oil and gas company’s stock valued at $792,000 after purchasing an additional 125 shares during the last quarter. Bremer Bank National Association boosted its position in shares of Chevron by 0.4% in the 4th quarter. Bremer Bank National Association now owns 32,351 shares of the oil and gas company’s stock valued at $2,732,000 after purchasing an additional 131 shares during the period. CFO4Life Group LLC grew its stake in Chevron by 1.6% during the 4th quarter. CFO4Life Group LLC now owns 8,368 shares of the oil and gas company’s stock worth $707,000 after buying an additional 135 shares during the last quarter. Finally, Gantzert Investment Co. LLC ADV lifted its stake in Chevron by 0.9% in the third quarter. Gantzert Investment Co. LLC ADV now owns 15,920 shares of the oil and gas company’s stock valued at $1,146,000 after buying an additional 140 shares during the last quarter. 62.27% of the stock is currently owned by 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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