Chevron Corp (CVX) Received its Third Buy in a Row
After Piper Jaffray and Mizuho Securities gave Chevron Corp (NYSE: CVX) a Buy rating last month, the company received another Buy, this time from Credit Suisse. Analyst William Featherston maintained a Buy rating on Chevron Corp yesterday and set a price target of $138. The company’s shares closed yesterday at $115.49.
According to TipRanks.com, Featherston is a 1-star analyst with an average return of -3.4% and a 43.2% success rate. Featherston covers the Basic Materials sector, focusing on stocks such as Anadarko Petroleum, Chesapeake Energy, and Devon Energy Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Chevron Corp with a $139 average price target, which is a 20.4% upside from current levels. In a report issued on November 28, Mizuho Securities also reiterated a Buy rating on the stock with a $135 price target.
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Chevron Corp’s market cap is currently $221.5B and has a P/E ratio of 15.56. The company has a Price to Book ratio of 1.44.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. Earlier this month, James William Johnson, the EVP of CVX sold 9,500 shares for a total of $1,126,510.
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