Chevron (NYSE:CVX) Given New $189.00 Price Target at Mizuho

Chevron (NYSE:CVX - Get Free Report) had its price objective dropped by equities research analysts at Mizuho from $205.00 to $189.00 in a research note issued on Monday, Benzinga reports. The firm presently has an "outperform" rating on the oil and gas company's stock. Mizuho's target price points to a potential upside of 33.00% from the company's previous close.

Other equities research analysts have also issued research reports about the company. Truist Financial lowered their target price on Chevron from $156.00 to $154.00 and set a "hold" rating for the company in a research note on Monday, August 5th. Royal Bank of Canada dropped their price objective on shares of Chevron from $190.00 to $180.00 and set an "outperform" rating on the stock in a research note on Monday, August 5th. Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They set a "peer perform" rating on the stock. Sanford C. Bernstein lowered shares of Chevron from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Scotiabank cut their price objective on shares of Chevron from $195.00 to $180.00 and set a "sector outperform" rating on the stock in a report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $182.88.

Chevron Trading Up 1.1 %

NYSE CVX traded up $1.50 during mid-day trading on Monday, hitting $142.11. The company's stock had a trading volume of 6,863,787 shares, compared to its average volume of 7,770,206. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron has a 52-week low of $135.37 and a 52-week high of $171.70. The stock's fifty day simple moving average is $148.88 and its two-hundred day simple moving average is $154.68. The firm has a market capitalization of $259.91 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the previous year, the firm posted $3.08 EPS. The business's revenue was up 4.7% compared to the same quarter last year. Research analysts expect that Chevron will post 11.57 EPS for the current year.

Institutional Trading of Chevron

Several hedge funds have recently bought and sold shares of CVX. Verity & Verity LLC increased its position in Chevron by 1.3% in the 2nd quarter. Verity & Verity LLC now owns 164,657 shares of the oil and gas company's stock valued at $25,756,000 after acquiring an additional 2,176 shares during the period. Heritage Wealth Management Inc. bought a new position in shares of Chevron in the second quarter worth $4,007,000. Lazari Capital Management Inc. increased its holdings in shares of Chevron by 23.0% during the second quarter. Lazari Capital Management Inc. now owns 4,067 shares of the oil and gas company's stock valued at $636,000 after purchasing an additional 761 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Chevron during the second quarter valued at about $64,869,000. Finally, Creekside Partners acquired a new stake in Chevron in the second quarter worth about $1,391,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Company Profile

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.