UBS Group Cuts Chevron (NYSE:CVX) Price Target to $189.00

Chevron (NYSE:CVX) had its price target cut by UBS Group from $192.00 to $189.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

A number of other research analysts also recently weighed in on CVX. Royal Bank of Canada reduced their target price on Chevron from $190.00 to $180.00 and set an outperform rating on the stock in a report on Monday, August 5th. Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They set a peer perform rating for the company. Scotiabank reduced their price objective on Chevron from $195.00 to $180.00 and set a sector outperform rating for the company in a research report on Friday, July 12th. Truist Financial reduced their price objective on Chevron from $156.00 to $154.00 and set a hold rating for the company in a research report on Monday, August 5th. Finally, Mizuho reduced their price objective on Chevron from $205.00 to $189.00 and set an outperform rating for the company in a research report on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $182.41.

Chevron Trading Up 0.5 %

CVX opened at $145.68 on Wednesday. The business has a 50 day simple moving average of $148.06 and a two-hundred day simple moving average of $154.48. The firm has a market capitalization of $268.48 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.48 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron has a one year low of $135.37 and a one year high of $171.70.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.08 EPS. Analysts predict that Chevron will post 11.48 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Hedge Funds Weigh In On Chevron

Institutional investors and hedge funds have recently modified their holdings of the company. American Capital Advisory LLC boosted its stake in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Chevron in the 4th quarter worth $30,000. Anfield Capital Management LLC boosted its stake in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC boosted 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 worth $39,000 after buying an additional 100 shares during the last quarter. Finally, Cooksen Wealth LLC purchased a new position in shares of Chevron in the 4th quarter worth $40,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

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.