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

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

A number of other equities research analysts have also weighed in on CVX. Bank of America assumed coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective for the company. Raymond James reduced their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday. 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 research note on Tuesday, November 26th. Scotiabank lowered their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Piper Sandler reduced their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Trading Down 0.1 %

Shares of Chevron stock opened at $153.01 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron has a 1 year low of $135.37 and a 1 year high of $167.11. The firm has a market cap of $274.98 billion, a PE ratio of 15.74, a PEG ratio of 1.29 and a beta of 1.11. The company has a 50 day simple moving average of $152.79 and a two-hundred day simple moving average of $150.89.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 quarter in the prior year, the company earned $3.45 EPS. Analysts expect that Chevron will post 11.45 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.47%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 67.08%.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction 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 owns 4,280 shares in the company, valued at $685,356.40. The trade was 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 through this link. 0.20% of the stock is owned by company insiders.

Institutional Trading of Chevron

A number of institutional investors have recently made changes to their positions in CVX. SRS Capital Advisors Inc. boosted its holdings in Chevron by 462.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 14,038 shares of the oil and gas company’s stock worth $2,033,000 after purchasing an additional 11,541 shares during the last quarter. Asahi Life Asset Management CO. LTD. grew its holdings in shares of Chevron by 9.8% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 14,246 shares of the oil and gas company’s stock worth $2,063,000 after acquiring an additional 1,273 shares during the period. Bailard Inc. increased its position in Chevron by 0.7% during the fourth quarter. Bailard Inc. now owns 84,211 shares of the oil and gas company’s stock valued at $12,197,000 after acquiring an additional 563 shares during the last quarter. Norden Group LLC lifted its holdings in Chevron by 8.4% in the fourth quarter. Norden Group LLC now owns 18,818 shares of the oil and gas company’s stock valued at $2,726,000 after acquiring an additional 1,459 shares during the period. Finally, Kinsale Capital Group Inc. grew its stake in shares of Chevron by 1.0% during the 4th quarter. Kinsale Capital Group Inc. now owns 37,527 shares of the oil and gas company’s stock valued at $5,435,000 after purchasing an additional 384 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

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.