Chevron Co. (NYSE:CVX) Receives $174.13 Consensus PT from Brokerages

Shares of Chevron Co. (NYSE:CVX) have been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $174.13.

A number of brokerages recently issued reports on CVX. UBS Group cut their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial dropped their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Institutional Trading of Chevron

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Life Planning Partners Inc purchased a new stake in Chevron during the 4th quarter valued at $25,000. IMG Wealth Management Inc. purchased a new stake in Chevron in the fourth quarter worth $25,000. Rational Advisors LLC purchased a new stake in Chevron in the third quarter worth $29,000. Legacy Investment Solutions LLC purchased a new stake in Chevron in the third quarter worth $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in Chevron in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.6 %

Shares of NYSE:CVX opened at $157.85 on Thursday. The stock has a 50 day moving average of $152.14 and a 200 day moving average of $151.20. The company has a market cap of $283.68 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. 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 announced 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 net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the company earned $3.45 EPS. As a group, equities research analysts expect that Chevron will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is currently 70.37%.

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.