Bank of America downgraded shares of Chevron (NYSE:CVX) from a buy rating to a neutral rating in a report released on Thursday, January 4th, Marketbeat.com reports. They currently have $125.00 price objective on the oil and gas company’s stock. The analysts noted that the move was a valuation call.

A number of other brokerages also recently commented on CVX. Vetr upgraded shares of Chevron from a hold rating to a buy rating and set a $134.35 price objective for the company in a research report on Tuesday, December 26th. Zacks Investment Research raised shares of 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. Scotiabank reaffirmed a buy rating and set a $130.00 price target on shares of Chevron in a research note on Friday, December 22nd. Jefferies Group reaffirmed a buy rating and set a $140.00 price target on shares of Chevron in a research note on Wednesday, December 20th. Finally, Royal Bank of Canada set a $110.00 price objective on shares of Chevron and gave the company a sell rating in a research note on Wednesday, December 20th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $128.89.

Shares of Chevron (NYSE:CVX) opened at $127.26 on Thursday. The company has a market cap of $249,178.86, a price-to-earnings ratio of 37.46, a P/E/G ratio of 2.71 and a beta of 1.21. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. Chevron has a 12-month low of $102.55 and a 12-month high of $133.88.

In other Chevron news, insider Pierre R. Breber sold 23,250 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $119.00, for a total value of $2,766,750.00. Following the completion of the sale, the insider now owns 42,182 shares of the company’s stock, valued at $5,019,658. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Patricia E. Yarrington sold 13,143 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the completion of the sale, the chief financial officer now directly owns 17,981 shares of the company’s stock, valued at approximately $2,067,994.81. The disclosure for this sale can be found here. Insiders sold 288,500 shares of company stock worth $33,480,822 in the last 90 days. 0.38% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Chevron by 2.9% in the second 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 during the period. BlackRock Inc. boosted its holdings in Chevron by 1.6% in the second quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock worth $13,007,759,000 after purchasing an additional 1,975,865 shares during the period. Capital World Investors boosted its holdings in Chevron by 9.8% in the second 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 during the period. Northern Trust Corp boosted its holdings in Chevron by 0.6% in the second 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 during the period. Finally, Franklin Resources Inc. boosted its holdings in Chevron by 0.3% in the second quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock worth $1,628,554,000 after purchasing an additional 49,083 shares during the period. 63.98% of the stock is owned by institutional investors and hedge funds.

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Chevron 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.

Analyst Recommendations for Chevron (NYSE:CVX)

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