Chevron (NYSE:CVX) PT Raised to $160.00

Chevron (NYSE:CVX) had its target price upped by TD Cowen from $155.00 to $160.00 in a report issued on Monday morning, Marketbeat Ratings reports. They currently have a hold rating on the oil and gas company’s stock.

Several other equities research analysts also recently commented on CVX. Wells Fargo & Company boosted their target price on shares of Chevron from $185.00 to $198.00 and gave the company an overweight rating in a research note on Thursday, April 4th. Royal Bank of Canada upped their price objective on shares of Chevron from $185.00 to $190.00 and gave the stock an outperform rating in a research note on Monday, February 5th. Mizuho lifted their target price on shares of Chevron from $195.00 to $200.00 and gave the company a buy rating in a research note on Wednesday, March 20th. Raymond James raised their price target on Chevron from $170.00 to $174.00 and gave the company an outperform rating in a report on Monday, April 15th. Finally, Scotiabank raised Chevron from a sector perform rating to a sector outperform rating and boosted their price objective for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $185.35.

Chevron Price Performance

Shares of Chevron stock opened at $159.56 on Monday. Chevron has a twelve month low of $139.62 and a twelve month high of $171.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The firm has a market cap of $296.35 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. The firm’s 50-day simple moving average is $157.04 and its 200-day simple moving average is $151.74.

Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. Chevron’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.55 EPS. As a group, research analysts expect that Chevron will post 13.71 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chevron

A number of hedge funds and other institutional investors have recently made changes to their positions in CVX. Pacifica Partners Inc. lifted its holdings in Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares in the last quarter. Private Wealth Management Group LLC lifted its holdings in shares of Chevron by 15.7% during the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after purchasing an additional 63 shares in the last quarter. Sweet Financial Partners LLC increased its stake in Chevron by 0.7% during the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after purchasing an additional 65 shares in the last quarter. Strategic Investment Advisors MI raised its holdings in Chevron by 3.8% during the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after buying an additional 65 shares during the period. Finally, Marks Group Wealth Management Inc lifted its stake in Chevron by 3.1% in the first quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock valued at $339,000 after buying an additional 65 shares in the last quarter. 72.42% of the stock is owned by 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.