Chevron Corporation (NYSE:CVX) Receives $165.25 Consensus PT from Analysts

Shares of Chevron Corporation (NYSE:CVX) have received an average rating of “Hold” from the twenty-three analysts that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $165.40.

A number of research analysts have recently issued reports on CVX shares. Scotiabank increased their target price on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Melius Research began coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. UBS Group lifted their target price on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Finally, Piper Sandler raised their price target on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Institutional Trading of Chevron

Large investors have recently bought and sold shares of the business. Keybank National Association OH lifted its position in Chevron by 114.5% during the third quarter. Keybank National Association OH now owns 1,402,565 shares of the oil and gas company’s stock worth $217,804,000 after buying an additional 748,708 shares in the last quarter. Werba Rubin Papier Wealth Management raised its holdings in shares of Chevron by 5.5% during the 3rd quarter. Werba Rubin Papier Wealth Management now owns 3,920 shares of the oil and gas company’s stock worth $609,000 after acquiring an additional 205 shares during the period. Core Wealth Partners LLC boosted its position in shares of Chevron by 2.8% during the 3rd quarter. Core Wealth Partners LLC now owns 9,145 shares of the oil and gas company’s stock valued at $1,420,000 after acquiring an additional 251 shares during the last quarter. Howard Capital Management Inc. grew its holdings in shares of Chevron by 6.8% in the third quarter. Howard Capital Management Inc. now owns 21,578 shares of the oil and gas company’s stock valued at $3,351,000 after purchasing an additional 1,372 shares during the period. Finally, Berman McAleer LLC acquired a new stake in Chevron during the third quarter worth about $523,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

NYSE:CVX opened at $154.13 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron has a 52 week low of $132.04 and a 52 week high of $168.96. The stock’s 50-day moving average price is $155.99 and its 200-day moving average price is $149.32. The stock has a market capitalization of $266.34 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 4.40 and a beta of 0.84.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $49.73 billion for the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter in the prior year, the business posted $2.48 earnings per share. Chevron’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, equities analysts expect that Chevron will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is 96.20%.

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.