The Chevron Corporation (CVX) Upgraded to “Sell” by Vetr Inc.

The Chevron Corporation (CVX) Upgraded to “Sell” by Vetr Inc.

Chevron Corporation (NYSE:CVX) was upgraded by investment analysts at Vetr from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $104.16 price objective on the stock. Vetr‘s target price points to a potential downside of 10.16% from the company’s previous close.

Other analysts have also issued reports about the stock. J P Morgan Chase & Co restated an “overweight” rating on shares of Chevron Corporation in a research report on Monday, December 12th. TheStreet upgraded shares of Chevron Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, December 21st. Barclays PLC restated an “equal weight” rating and issued a $125.00 price target on shares of Chevron Corporation in a research report on Monday, October 10th. HSBC restated a “buy” rating and issued a $120.00 price target on shares of Chevron Corporation in a research report on Sunday, October 16th. Finally, Zacks Investment Research upgraded shares of Chevron Corporation from a “hold” rating to a “strong-buy” rating and set a $118.00 price target on the stock in a research report on Monday, October 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the stock. Chevron Corporation presently has a consensus rating of “Buy” and an average target price of $110.81.

Chevron Corporation (NYSE:CVX) traded down 0.29% during midday trading on Wednesday, reaching $115.94. 4,855,334 shares of the company traded hands. The firm’s 50 day moving average price is $116.33 and its 200 day moving average price is $106.30. Chevron Corporation has a 12 month low of $78.02 and a 12 month high of $119.00. The firm’s market capitalization is $218.87 billion.

Chevron Corporation (NYSE:CVX) last posted its earnings results on Friday, October 28th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.29. Chevron Corporation had a negative net margin of 1.34% and a positive return on equity of 0.59%. The business had revenue of $30.14 billion for the quarter, compared to analyst estimates of $29.71 billion. During the same period last year, the business posted $1.09 EPS. Chevron Corporation’s revenue was down 12.2% compared to the same quarter last year. On average, analysts expect that Chevron Corporation will post $1.36 earnings per share for the current year.

In other news, insider Pierre R. Breber sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $110.00, for a total value of $1,100,000.00. Following the completion of the transaction, the insider now owns 28,911 shares in the company, valued at $3,180,210. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Linnet F. Deily sold 5,637 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $105.27, for a total transaction of $593,406.99. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. boosted its position in Chevron Corporation by 322.6% in the second quarter. Thompson Davis & CO. Inc. now owns 955 shares of the company’s stock valued at $100,000 after buying an additional 729 shares during the period. Solaris Asset Management LLC boosted its position in Chevron Corporation by 42.6% in the third quarter. Solaris Asset Management LLC now owns 1,005 shares of the company’s stock valued at $103,000 after buying an additional 300 shares during the period. Winfield Associates Inc. boosted its position in Chevron Corporation by 1.5% in the third quarter. Winfield Associates Inc. now owns 1,151 shares of the company’s stock valued at $118,000 after buying an additional 17 shares during the period. Global X Management Co. LLC boosted its position in Chevron Corporation by 115.6% in the second quarter. Global X Management Co. LLC now owns 1,158 shares of the company’s stock valued at $121,000 after buying an additional 621 shares during the period. Finally, Camarda Financial Advisors LLC bought a new position in Chevron Corporation during the second quarter valued at $122,000. Institutional investors own 61.06% of the company’s stock.

Chevron Corporation 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.

To view Vetr’s full report, visit Vetr’s official website.

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