Chevron Corp (CVX) Receives a Buy from Piper Jaffray


In a report released today, Blake Fernandez from Piper Jaffray reiterated a Buy rating on Chevron Corp (CVX), with a price target of $126. The company’s shares opened today at $116.93.

According to TipRanks.com, Fernandez is a 4-star analyst with an average return of 10.5% and a 63.4% success rate. Fernandez covers the Basic Materials sector, focusing on stocks such as Marathon Petroleum Corporation, Royal Dutch Shell A, and Hollyfrontier Corp.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Chevron Corp with a $132.36 average price target, a 13.2% upside from current levels. In a report issued on February 1, Credit Suisse also maintained a Buy rating on the stock with a $135 price target.

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Chevron Corp’s market cap is currently $224.7B and has a P/E ratio of 15.18. The company has a Price to Book ratio of 1.46.

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Jeanette Ourada, the Vice Pres. and Comptroller of CVX sold 7,200 shares for a total of $838,800.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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