Chevron Co. (NYSE:CVX) Receives $175.19 Average Price Target from Analysts

Shares of Chevron Co. (NYSE:CVX) have received an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $175.19.

Several research analysts have weighed in on the stock. Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Mizuho lowered their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Citigroup upgraded 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. Barclays upped their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, November 5th.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron 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 transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Institutional Trading of Chevron

Several hedge funds have recently made changes to their positions in the company. Tacita Capital Inc increased its holdings in shares of Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 65 shares in the last quarter. Wallace Capital Management Inc. boosted its position in shares of Chevron by 0.8% in the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after buying an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC grew its stake in Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after acquiring an additional 67 shares during the last quarter. S.A. Mason LLC increased its holdings in Chevron by 0.7% during the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after acquiring an additional 67 shares in the last quarter. Finally, Jag Capital Management LLC raised its position in Chevron by 5.2% during the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock worth $201,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.8 %

CVX stock opened at $147.85 on Wednesday. Chevron has a one year low of $135.37 and a one year high of $167.11. The firm has a market cap of $265.70 billion, a PE ratio of 16.25, a PEG ratio of 2.93 and a beta of 1.10. The firm’s 50 day moving average price is $153.73 and its 200-day moving average price is $151.27. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The company 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 for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.05 earnings per share. On average, equities research analysts anticipate that Chevron will post 10.5 EPS for the current year.

Chevron Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 4.41%. Chevron’s dividend payout ratio is presently 71.65%.

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.