Chevron (CVX) receives holdback from Bank of America Securities

Bank of America Securities Analyst Doug Leggate maintained a Hold rating on Chevron (CLCResearch report) on April 28 and set a price target of $191.00. Shares of the company closed last Friday at $168.58.

According TipRanksLeggate is a 5 star analyst with an average return of 12.2% and a success rate of 55.56%. Leggate covers the utilities sector, focusing on stocks such as Exxon Mobil, Chevron and Conocophillips.

In addition to Bank of America Securities, Chevron also received a hold from HSBC’s Kim Fustier in a report released April 20. However, on April 18, UBS launched a hedge with a buy rating on Chevron (NYSE: CVX).

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CVX’s market capitalization is currently $321.4 billion and has a P/E ratio of 9.11.

Based on recent corporate insider activity from 77 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase in the number of insiders selling their shares of CVX compared to the start of this year. Most recently, in February 2023, MORRIS RHONDA J, the Vice President of CVX sold 19,666.00 shares for a total of $3,343,220.00.

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Chevron Corp. engages in the provision of administrative, financial and technological support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment includes the exploration, development and production of crude oil and natural gas; liquefaction, transport and regasification associated with liquefied natural gas; transportation of crude oil through major international oil export pipelines; processing, transportation, storage and marketing of natural gas; and a gas-to-liquids plant. The Downstream segment includes the refining of crude oil into petroleum products; marketing of crude oil and refined products; transportation of crude oil and refined products by pipeline, vessel, automotive equipment and rail car; and the manufacture and marketing of basic petrochemicals, plastics for industrial use and additives for fuels and lubricants. The company was founded in 1906 and is based in San Ramon, California.

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