Chevron (NYSE:CVX) Price Target Raised to $180.00

Chevron (NYSE:CVX) had its target price hoisted by Raymond James from $175.00 to $180.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the oil and gas company’s stock.

CVX has been the subject of several other reports. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Royal Bank of Canada upped their price objective on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Wells Fargo & Company increased their target price on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Truist Financial upped their price target on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Chevron Stock Performance

Shares of NYSE CVX opened at $161.54 on Friday. The company has a 50 day simple moving average of $153.84 and a two-hundred day simple moving average of $151.06. The stock has a market cap of $290.30 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 2.62 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron has a 12 month low of $135.37 and a 12 month high of $167.11.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.05 earnings per share. As a group, analysts predict that Chevron will post 10.39 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.04%. Chevron’s dividend payout ratio is presently 71.65%.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Chevron

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new position in shares of Chevron during the 3rd quarter worth $29,000. Rational Advisors LLC acquired a new stake in Chevron during the third quarter worth about $29,000. Darwin Wealth Management LLC purchased a new position in Chevron during the third quarter worth about $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron in the 3rd quarter valued at about $31,000. Finally, Cyrus J. Lawrence LLC grew its stake in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds 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.