Analysts Set Chevron Corporation (NYSE:CVX) PT at $161.31

Shares of Chevron Corporation (NYSE:CVX) have been assigned a consensus recommendation of “Hold” from the eighteen brokerages that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $161.31.

Several research analysts recently issued reports on CVX shares. BNP Paribas lowered shares of Chevron to a “cautious” rating in a research report on Tuesday, April 15th. TD Cowen dropped their price objective on shares of Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a report on Friday. Redburn Atlantic reissued a “sell” rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Mizuho lowered their target price on shares of Chevron from $188.00 to $186.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th.

Chevron Trading Up 0.3%

NYSE CVX opened at $150.20 on Friday. Chevron has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The stock has a market cap of $262.31 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 2.47 and a beta of 0.83. The firm’s 50 day moving average price is $144.04 and its two-hundred day moving average price is $148.68.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.93 earnings per share. Equities analysts anticipate that Chevron will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.55%. Chevron’s dividend payout ratio is 78.17%.

Hedge Funds Weigh In On Chevron

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVX. Capital Advisors Inc. OK raised its stake in shares of Chevron by 2.0% during the second quarter. Capital Advisors Inc. OK now owns 580,675 shares of the oil and gas company’s stock valued at $83,147,000 after acquiring an additional 11,417 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. raised its stake in shares of Chevron by 2.7% during the second quarter. Comprehensive Financial Consultants Institutional Inc. now owns 10,796 shares of the oil and gas company’s stock valued at $1,546,000 after acquiring an additional 285 shares during the last quarter. Belpointe Asset Management LLC raised its stake in shares of Chevron by 6.4% during the second quarter. Belpointe Asset Management LLC now owns 24,551 shares of the oil and gas company’s stock valued at $3,516,000 after acquiring an additional 1,468 shares during the last quarter. Asset Planning Services Inc. LA ADV raised its stake in shares of Chevron by 0.3% during the second quarter. Asset Planning Services Inc. LA ADV now owns 43,705 shares of the oil and gas company’s stock valued at $6,258,000 after acquiring an additional 115 shares during the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV raised its stake in shares of Chevron by 1.0% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 29,342 shares of the oil and gas company’s stock valued at $4,201,000 after acquiring an additional 286 shares during the last quarter. 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.