Brokerages Set Chevron Co. (NYSE:CVX) Target Price at $174.93

Shares of Chevron Co. (NYSE:CVX) have received a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $174.93.

CVX has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Barclays upped their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Truist Financial lifted their price target on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, November 4th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Finally, Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Institutional Trading of Chevron

A number of institutional investors have recently bought and sold shares of the company. Rational Advisors LLC acquired a new stake in Chevron during the third quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron in the 3rd quarter valued at $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron during the third quarter worth $31,000. Finally, Anfield Capital Management LLC grew its holdings in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.6 %

Shares of NYSE:CVX opened at $160.78 on Tuesday. The company has a market capitalization of $288.94 billion, a P/E ratio of 17.67, a P/E/G ratio of 3.63 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The business’s 50 day simple moving average is $149.80 and its 200 day simple moving average is $152.57. Chevron has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter last year, the business earned $3.05 earnings per share. Chevron’s revenue was down 6.3% on a year-over-year basis. On average, research analysts anticipate that Chevron will post 10.55 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.06%. Chevron’s dividend payout ratio (DPR) 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.