Fintel reports that on July 31, 2023, Goldman Sachs upgraded their outlook for Chevron (NYSE:CVX) from Neutral to Buy.
Analyst Price Forecast Suggests 20.97% Upside
As of July 5, 2023, the average one-year price target for Chevron is 192.19. The forecasts range from a low of 168.67 to a high of $220.50. The average price target represents an increase of 20.97% from its latest reported closing price of 158.87.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Chevron is 212,981MM, a decrease of 0.57%. The projected annual non-GAAP EPS is 17.00.
What is the Fund Sentiment?
There are 4551 funds or institutions reporting positions in Chevron. This is a decrease of 1 owner(s) or 0.02% in the last quarter. Average portfolio weight of all funds dedicated to CVX is 0.85%, an increase of 4.57%. Total shares owned by institutions decreased in the last three months by 2.17% to 1,480,325K shares. The put/call ratio of CVX is 0.95, indicating a bullish outlook.
What are Other Shareholders Doing?
Berkshire Hathaway holds 132,408K shares representing 7.08% ownership of the company. In it’s prior filing, the firm reported owning 162,976K shares, representing a decrease of 23.09%. The firm decreased its portfolio allocation in CVX by 32.08% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 53,122K shares representing 2.84% ownership of the company. In it’s prior filing, the firm reported owning 52,901K shares, representing an increase of 0.42%. The firm decreased its portfolio allocation in CVX by 15.71% over the last quarter.
XLE – The Energy Select Sector SPDR Fund holds 45,660K shares representing 2.44% ownership of the company. In it’s prior filing, the firm reported owning 45,586K shares, representing an increase of 0.16%. The firm decreased its portfolio allocation in CVX by 2.09% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 41,510K shares representing 2.22% ownership of the company. In it’s prior filing, the firm reported owning 41,124K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in CVX by 14.91% over the last quarter.
Geode Capital Management holds 32,632K shares representing 1.75% ownership of the company. In it’s prior filing, the firm reported owning 32,716K shares, representing a decrease of 0.26%. The firm decreased its portfolio allocation in CVX by 16.19% over the last quarter.
Chevron Background Information
(This description is provided by the company.)
Chevron Corporation is one of the world’s leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company’s operations. Chevron is based in San Ramon, California.
This article originally appeared on Fintel
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