Chevron Corporation (NYSE:CVX) Receives $205.71 Average PT from Analysts

Chevron Corporation (NYSE:CVX) has been assigned an average rating of “Moderate Buy” from the twenty-six brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and nineteen have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $205.7083.

Several brokerages have recently weighed in on CVX. Piper Sandler upped their target price on shares of Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. TD Cowen raised their target price on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Wolfe Research raised Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a research report on Thursday, July 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 price target on shares of Chevron in a report on Wednesday, May 6th. Finally, Zacks Research lowered Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Wolfe Research upgraded Chevron to Outperform, citing a stronger cash-flow outlook tied to the company’s expanding Guyana development and other long-term growth projects. This Analyst Just Upgraded Chevron Stock. Here's Why.
• Positive Sentiment: Investors are also viewing Chevron more favorably after recent coverage highlighted strengthening fundamentals, better project execution, and the company’s cash-generation potential from Guyana and gas-fired power deals. Should Chevron’s (CVX) Index Exit and Guyana Upgrade Reframe How Investors View Its Cash-Flow Story?
• Neutral Sentiment: Broader energy-sector commentary says oil is trading well below the $100 threshold, with OPEC production increases and recession concerns weighing on crude prices; that creates uncertainty for Chevron’s near-term earnings outlook. Oil’s $100 Threshold: What It Means for Energy Stocks Now
• Negative Sentiment: Political pressure is also building, with criticism from the Trump administration and California Gov. Gavin Newsom over gasoline prices and Big Oil’s pricing power, which could keep sentiment around Chevron cautious. Big Oil's Windfall Earnings Threaten to Reignite Trump's Price-Gouging Push Gavin Newsom Slams Chevron, Says Gas Prices Still 'Elevated' Due to Trump's 'Reckless' Iran War

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Chevron

A number of institutional investors have recently modified their holdings of CVX. Red Spruce Capital LLC raised its stake in Chevron by 1.5% during the second quarter. Red Spruce Capital LLC now owns 7,967 shares of the oil and gas company’s stock valued at $1,321,000 after buying an additional 115 shares in the last quarter. 55 North Private Wealth LLC increased its holdings in shares of Chevron by 27.3% in the 2nd quarter. 55 North Private Wealth LLC now owns 3,210 shares of the oil and gas company’s stock valued at $532,000 after acquiring an additional 689 shares during the last quarter. Clark Asset Management LLC increased its holdings in shares of Chevron by 12.9% in the 2nd quarter. Clark Asset Management LLC now owns 2,251 shares of the oil and gas company’s stock valued at $373,000 after acquiring an additional 258 shares during the last quarter. Evanson Financial LLC acquired a new stake in shares of Chevron during the 2nd quarter valued at approximately $2,694,000. Finally, Fermata Advisors LLC lifted its stake in Chevron by 5.6% during the second quarter. Fermata Advisors LLC now owns 12,847 shares of the oil and gas company’s stock worth $2,129,000 after purchasing an additional 684 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of NYSE:CVX opened at $173.96 on Friday. The business’s 50-day simple moving average is $182.69 and its 200 day simple moving average is $180.94. The company has a market cap of $346.46 billion, a P/E ratio of 30.15, a PEG ratio of 0.56 and a beta of 0.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron has a one year low of $146.49 and a one year high of $214.71.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the prior year, the business earned $2.18 EPS. Chevron’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that Chevron will post 15.52 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.1%. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.