Chevron (NYSE:CVX – Free Report) had its target price cut by Truist Financial from $168.00 to $156.00 in a research note released on Friday morning, Benzinga reports. They currently have a hold rating on the oil and gas company’s stock.
Other equities analysts have also issued reports about the company. Royal Bank of Canada boosted their price target on Chevron from $185.00 to $190.00 and gave the company an outperform rating in a research note on Monday, February 5th. The Goldman Sachs Group reiterated a buy rating on shares of Chevron in a research note on Monday. Jefferies Financial Group upgraded Chevron from a hold rating to a buy rating and set a $184.00 price objective on the stock in a research note on Monday, January 8th. Mizuho upped their price objective on Chevron from $195.00 to $200.00 and gave the company a buy rating in a research note on Wednesday, March 20th. Finally, Piper Sandler lowered their price objective on Chevron from $188.00 to $180.00 and set an overweight rating on the stock in a research note on Thursday, March 14th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $180.63.
Chevron Stock Performance
CVX traded up $0.91 on Friday, hitting $161.61. 7,429,789 shares of the stock traded hands, compared to its average volume of 8,713,886. Chevron has a 52 week low of $139.62 and a 52 week high of $172.88. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $300.14 billion, a PE ratio of 14.23, a P/E/G ratio of 2.44 and a beta of 1.12. The business has a fifty day moving average price of $153.72 and a two-hundred day moving average price of $152.44.
Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same period in the previous year, the company posted $4.09 earnings per share. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. On average, research analysts predict that Chevron will post 13.13 EPS for the current fiscal year.
Chevron Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Thursday, February 15th. Chevron’s payout ratio is presently 57.39%.
Insiders Place Their Bets
In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Picton Mahoney Asset Management acquired a new position in shares of Chevron in the 3rd quarter valued at $26,000. Bare Financial Services Inc acquired a new position in shares of Chevron in the 4th quarter valued at $27,000. Valley Forge Investment Consultants Inc. ADV lifted its stake in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the period. Frank Rimerman Advisors LLC acquired a new position in shares of Chevron in the 4th quarter valued at $30,000. Finally, DHJJ Financial Advisors Ltd. bought a new stake in shares of Chevron in the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 72.42% of the company’s stock.
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.
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