HSBC Lowers Chevron (CVX) to Hold
Chevron (NYSE:CVX) was downgraded by HSBC from a “buy” rating to a “hold” rating in a report released on Thursday, MarketBeat reports.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Vetr downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 price objective for the company. in a report on Thursday, January 11th. BMO Capital Markets raised shares of Chevron from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $120.00 to $140.00 in a report on Thursday, January 11th. Bank of America downgraded shares of Chevron from a “buy” rating to a “neutral” rating and set a $125.00 price objective for the company. in a report on Thursday, January 4th. They noted that the move was a valuation call. Finally, Scotiabank reaffirmed a “buy” rating and set a $130.00 price objective on shares of Chevron in a report on Friday, December 22nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $126.06.
Chevron (NYSE CVX) opened at $131.30 on Thursday. The company has a market cap of $249,390.00, a PE ratio of 38.28, a PEG ratio of 2.83 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 current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. research analysts anticipate that Chevron will post 4.35 earnings per share for the current fiscal year.
In other Chevron news, Vice Chairman Michael K. Wirth sold 1,229 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total value of $145,022.00. Following the completion of the transaction, the insider now directly owns 1,229 shares of the company’s stock, valued at $145,022. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Pierre R. Breber sold 23,250 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $116.85, for a total transaction of $2,716,762.50. The disclosure for this sale can be found here. Insiders have sold a total of 288,500 shares of company stock valued at $33,480,822 over the last three months. 0.38% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Shine Investment Advisory Services Inc. acquired a new stake in shares of Chevron during the 2nd quarter worth approximately $106,000. Winfield Associates Inc. grew its position in shares of Chevron by 5.1% during the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after buying an additional 63 shares during the period. Daiwa SB Investments Ltd. grew its position in shares of Chevron by 438.5% during the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after buying an additional 1,140 shares during the period. Acrospire Investment Management LLC grew its position in shares of Chevron by 133.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after buying an additional 800 shares during the period. Finally, Accurate Investment Solutions Inc. grew its position in shares of Chevron by 59.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock worth $159,000 after buying an additional 502 shares during the period. 63.84% of the stock is owned by institutional investors.
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.
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