Chevron (NYSE:CVX) Cut to "Equal Weight" at Barclays

Chevron (NYSE:CVX - Get Free Report) was downgraded by stock analysts at Barclays from an "overweight" rating to an "equal weight" rating in a research note issued on Wednesday, MarketBeat Ratings reports. They presently have a $152.00 price target on the oil and gas company's stock, down from their previous price target of $171.00. Barclays's target price indicates a potential upside of 9.60% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Royal Bank of Canada restated an "outperform" rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Raymond James lowered their price objective on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Finally, Truist Financial reduced their price objective on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $165.71.

Chevron Stock Performance

Shares of CVX stock traded down $0.38 during mid-day trading on Wednesday, hitting $138.69. The stock had a trading volume of 6,875,984 shares, compared to its average volume of 7,945,672. Chevron has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company's 50-day simple moving average is $152.05 and its 200-day simple moving average is $153.02. The firm has a market cap of $244.18 billion, a PE ratio of 14.27, a PEG ratio of 1.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts' consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the firm earned $3.45 earnings per share. Sell-side analysts anticipate that Chevron will post 10.79 earnings per share for the current year.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. McIlrath & Eck LLC increased its position in shares of Chevron by 5.8% during the 3rd quarter. McIlrath & Eck LLC now owns 1,434 shares of the oil and gas company's stock valued at $211,000 after purchasing an additional 78 shares during the last quarter. Westside Investment Management Inc. increased its position in Chevron by 9.0% during the 3rd quarter. Westside Investment Management Inc. now owns 3,405 shares of the oil and gas company's stock valued at $503,000 after purchasing an additional 281 shares during the period. Diamant Asset Management Inc. boosted its position in Chevron by 6.2% during the 3rd quarter. Diamant Asset Management Inc. now owns 5,510 shares of the oil and gas company's stock valued at $811,000 after acquiring an additional 320 shares in the last quarter. Wealthquest Corp raised its holdings in Chevron by 2.3% in the third quarter. Wealthquest Corp now owns 5,222 shares of the oil and gas company's stock worth $782,000 after purchasing an additional 118 shares in the last quarter. Finally, Te Ahumairangi Investment Management Ltd increased its stake in shares of Chevron by 4.5% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 22,219 shares of the oil and gas company's stock worth $3,254,000 after acquiring an additional 950 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

About Chevron

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