Barclays Issues Positive Forecast for Chevron (NYSE:CVX) Stock Price

Chevron (NYSE:CVX) had its price target boosted by Barclays from $168.00 to $174.00 in a research report report published on Monday, Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Several other equities research analysts have also weighed in on the company. Truist Financial cut their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Scotiabank cut their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, Wolfe Research assumed coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Stock Up 0.2 %

CVX stock traded up $0.27 during midday trading on Monday, hitting $154.24. The company’s stock had a trading volume of 724,876 shares, compared to its average volume of 7,623,874. Chevron has a 52-week low of $135.37 and a 52-week high of $167.11. The firm has a 50-day simple moving average of $147.07 and a 200-day simple moving average of $152.91. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $282.09 billion, a P/E ratio of 16.92, a PEG ratio of 3.39 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the previous year, the firm earned $3.05 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities analysts forecast that Chevron will post 10.7 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.23%. Chevron’s payout ratio is 71.65%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rational Advisors LLC bought a new position in shares of Chevron during the third quarter valued at approximately $29,000. Anfield Capital Management LLC increased its position in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC increased its holdings in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Krane Funds Advisors LLC acquired a new stake in Chevron in the third quarter worth about $47,000. Finally, Livelsberger Financial Advisory acquired a new stake in Chevron in the third quarter worth approximately $47,000. 72.42% of the stock is owned by institutional investors and hedge funds.

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.