Barclays Sticks to Their Buy Rating for Chevron Corp (CVX)

By Jason Carr

Barclays analyst Paul Cheng maintained a Buy rating on Chevron Corp (CVXResearch Report) today and set a price target of $150. The company’s shares closed yesterday at $123.29.

Cheng said:

“We reiterate our OW rating and raise our PT to $150.”

According to TipRanks.com, Cheng is a 4-star analyst with an average return of 3.8% and a 50.8% success rate. Cheng covers the Basic Materials sector, focusing on stocks such as Petroleo Brasileiro SA- Petrobras, Marathon Petroleum Corporation, and Imperial Oil Limited.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Chevron Corp with a $134.36 average price target, an 9.0% upside from current levels. In a report issued on February 28, Cowen & Co. also reiterated a Buy rating on the stock with a $140 price target.

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The company has a one-year high of $131.08 and a one-year low of $100.22. Currently, Chevron Corp has an average volume of 7.13M.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. Last 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.