Chevron Co. (NYSE:CVX) Receives $185.59 Average Target Price from Analysts

Chevron Co. (NYSE:CVX) has been given an average rating of “Moderate Buy” by the nineteen analysts that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $183.82.

CVX has been the subject of several research reports. Piper Sandler increased their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Raymond James raised their price objective on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. TD Cowen upped their target price on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. HSBC increased their price target on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock.

Chevron Price Performance

Shares of Chevron stock opened at $144.50 on Friday. The business has a 50 day moving average of $155.22 and a 200 day moving average of $155.94. Chevron has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a market cap of $266.31 billion, a PE ratio of 13.29, a P/E/G ratio of 2.39 and a beta of 1.10. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter last year, the company posted $3.08 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron will post 12.45 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.51%. Chevron’s payout ratio is 59.98%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.20% of the stock is owned by insiders.

Institutional Trading of Chevron

Hedge funds have recently bought and sold shares of the company. Hanson & Doremus Investment Management lifted its stake in shares of Chevron by 5.8% in the 2nd quarter. Hanson & Doremus Investment Management now owns 4,431 shares of the oil and gas company’s stock worth $693,000 after purchasing an additional 242 shares during the period. Wilkins Investment Counsel Inc. increased its holdings in Chevron by 11.5% during the second quarter. Wilkins Investment Counsel Inc. now owns 16,515 shares of the oil and gas company’s stock valued at $2,583,000 after buying an additional 1,700 shares during the last quarter. Diversify Wealth Management LLC bought a new position in Chevron in the second quarter worth approximately $2,593,000. Vista Capital Partners Inc. boosted its stake in shares of Chevron by 4.1% during the 2nd quarter. Vista Capital Partners Inc. now owns 2,694 shares of the oil and gas company’s stock worth $421,000 after acquiring an additional 106 shares during the last quarter. Finally, Williams Financial LLC bought a new stake in shares of Chevron during the 2nd quarter valued at $3,533,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.