Chevron (CVX) Receives a Hold from RBC Capital


RBC Capital analyst Biraj Borkhataria maintained a Hold rating on Chevron (CVX) yesterday and set a price target of $85.00. The company’s shares closed last Monday at $69.67.

According to TipRanks.com, Borkhataria is a 1-star analyst with an average return of -5.7% and a 36.6% success rate. Borkhataria covers the Basic Materials sector, focusing on stocks such as Royal Dutch Shell A, Exxon Mobil, and Repsol.

Chevron has an analyst consensus of Strong Buy, with a price target consensus of $110.71, a 59.3% upside from current levels. In a report issued on March 25, Citigroup also maintained a Hold rating on the stock with a $65.00 price target.

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Based on Chevron’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $34.57 billion and GAAP net loss of $6.61 billion. In comparison, last year the company earned revenue of $40.34 billion and had a net profit of $3.73 billion.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CVX in relation to earlier this year.

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.

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant. The Downstream segment comprises refining of crude oil into petroleum products; marketing of crude oil and refined products; transporting of crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. The company was founded in 1906 and is headquartered in San Ramon, CA.

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