Chevron’s (CVX) “Hold” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their hold rating on shares of Chevron (NYSE:CVX) in a report published on Friday. The firm currently has a $130.00 price target on the oil and gas company’s stock.

Several other analysts also recently weighed in on CVX. Jefferies Group restated a buy rating and issued a $140.00 price target on shares of Chevron in a research note on Wednesday, December 20th. Cowen restated an outperform rating and issued a $160.00 price target (up previously from $122.00) on shares of Chevron in a research note on Thursday, December 21st. Scotiabank restated a buy rating and issued a $130.00 price target on shares of Chevron in a research note on Friday, December 22nd. Vetr upgraded Chevron from a hold rating to a buy rating and set a $134.35 price target on the stock in a research note on Tuesday, December 26th. Finally, Zacks Investment Research upgraded Chevron from a hold rating to a buy rating and set a $140.00 price target on the stock in a research note on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $131.29.

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Chevron stock opened at $120.70 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.83 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $229,077.55, a P/E ratio of 32.62, a P/E/G ratio of 2.33 and a beta of 1.16. Chevron has a twelve month low of $102.55 and a twelve month high of $133.88.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.54). The company had revenue of $37.62 billion during the quarter, compared to analysts’ expectations of $38.43 billion. Chevron had a return on equity of 5.22% and a net margin of 6.49%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 EPS. analysts expect that Chevron will post 6.45 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Chevron by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after purchasing an additional 3,920,240 shares in the last quarter. BlackRock Inc. increased its stake in shares of Chevron by 1.9% in the 4th quarter. BlackRock Inc. now owns 128,530,034 shares of the oil and gas company’s stock worth $16,090,676,000 after purchasing an additional 2,356,734 shares in the last quarter. Capital World Investors increased its stake in shares of Chevron by 9.8% in the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after purchasing an additional 3,182,250 shares in the last quarter. Northern Trust Corp increased its stake in shares of Chevron by 0.6% in the 2nd quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock worth $2,728,558,000 after purchasing an additional 157,021 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Chevron by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 19,836,151 shares of the oil and gas company’s stock worth $2,478,038,000 after purchasing an additional 655,892 shares in the last quarter. 64.97% of the stock is currently owned by hedge funds and other institutional investors.

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Chevron Company Profile

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.

Analyst Recommendations for Chevron (NYSE:CVX)

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