Chevron's (CVX) "Sell" Rating Reaffirmed at Redburn Atlantic

Chevron (NYSE:CVX - Get Free Report)'s stock had its "sell" rating reissued by stock analysts at Redburn Atlantic in a research note issued on Wednesday,Benzinga reports. They presently have a $124.00 target price on the oil and gas company's stock, down from their prior target price of $156.00. Redburn Atlantic's price target points to a potential downside of 9.66% from the company's previous close.

A number of other research firms have also weighed in on CVX. Wells Fargo & Company cut their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Barclays downgraded Chevron from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $171.00 to $152.00 in a research note on Wednesday. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. BNP Paribas cut Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Finally, UBS Group dropped their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $165.71.

Chevron Stock Performance

CVX opened at $137.26 on Wednesday. The stock has a 50-day moving average of $152.74 and a 200-day moving average of $153.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. Chevron has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a market cap of $241.66 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 period last year, the company posted $3.45 EPS. As a group, equities research analysts forecast that Chevron will post 10.79 earnings per share for the current fiscal year.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company's stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Chevron

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVX. Norges Bank acquired a new position in Chevron during the fourth quarter valued at approximately $3,017,750,000. Raymond James Financial Inc. acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $1,036,302,000. GAMMA Investing LLC grew its stake in shares of Chevron by 21,191.5% in the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after buying an additional 5,382,847 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after buying an additional 2,432,756 shares during the last quarter. Finally, Amundi raised its position in Chevron by 27.7% during the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after acquiring an additional 1,910,262 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.

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