UBS Group Lowers Chevron (NYSE:CVX) Price Target to $194.00

Chevron (NYSE:CVX) had its price target lowered by UBS Group from $195.00 to $194.00 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock.

A number of other brokerages have also issued reports on CVX. Truist Financial raised their target price on shares of Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Raymond James lowered their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.60.

Chevron Trading Up 0.1 %

Shares of Chevron stock opened at $149.39 on Monday. Chevron has a 12-month low of $135.37 and a 12-month high of $167.11. The stock has a market cap of $268.46 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.29 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. The company has a fifty day simple moving average of $153.19 and a 200-day simple moving average of $151.02.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the firm posted $3.45 EPS. On average, equities analysts forecast that Chevron will post 11.45 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Insider Buying and Selling at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm’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 transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Chevron

Several large investors have recently bought and sold shares of the company. Life Planning Partners Inc acquired a new stake in Chevron in the 4th quarter valued at about $25,000. Rational Advisors LLC purchased a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron in the 3rd quarter valued at approximately $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Chevron during the 3rd quarter valued at $31,000. 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.