Morgan Stanley analyst Devin McDermott maintained a Hold rating on Chevron (CVX – Research Report) today and set a price target of $185.00. The company’s shares closed last Monday at $176.88, close to its 52-week high of $180.96.
According to TipRanks.com, McDermott is a 5-star analyst with an average return of 15.7% and a 59.2% success rate. McDermott covers the Utilities sector, focusing on stocks such as Excelerate Energy, Inc. Class A, Continental Resources, and Occidental Petroleum.
Currently, the analyst consensus on Chevron is a Moderate Buy with an average price target of $176.94.
The company has a one-year high of $180.96 and a one-year low of $92.86. Currently, Chevron has an average volume of 13.65M.
Based on the recent corporate insider activity of 86 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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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