Chevron (NYSE:CVX) PT Raised to $192.00 at UBS Group

Chevron (NYSE:CVX) had its price objective upped by UBS Group from $189.00 to $192.00 in a research note issued to investors on Tuesday, Benzinga reports. UBS Group currently has a buy rating on the oil and gas company’s stock.

Other analysts also recently issued reports about the company. Wells Fargo & Company reduced their target price on Chevron from $196.00 to $169.00 and set an overweight rating for the company in a research note on Friday, September 27th. Truist Financial cut their price target on Chevron from $154.00 to $150.00 and set a hold rating on the stock in a report on Monday, September 30th. Barclays lowered their target price on Chevron from $185.00 to $168.00 and set an overweight rating on the stock in a research report on Thursday, October 3rd. Royal Bank of Canada reissued an outperform rating and issued a $170.00 price target on shares of Chevron in a research report on Tuesday. Finally, Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They set a peer perform rating on the stock. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $177.59.

Chevron Price Performance

Chevron stock opened at $150.59 on Tuesday. The stock has a market capitalization of $275.42 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 2.70 and a beta of 1.09. Chevron has a 52-week low of $135.37 and a 52-week high of $170.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock’s 50 day moving average price is $145.45 and its two-hundred day moving average price is $154.02.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. During the same period in the prior year, the company earned $3.08 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Chevron will post 11.09 earnings per share for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.33%. Chevron’s dividend payout ratio (DPR) is 64.55%.

Hedge Funds Weigh In On Chevron

A number of hedge funds and other institutional investors have recently modified their holdings of the business. American Capital Advisory LLC grew its position in shares of Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the period. Anfield Capital Management LLC lifted its stake in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC increased its position in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Cooksen Wealth LLC purchased a new stake in Chevron in the fourth quarter worth $40,000. Finally, Vima LLC bought a new stake in shares of Chevron in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

About Chevron

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.