Chevron (NYSE:CVX) Price Target Raised to $216.00

Chevron (NYSE:CVX) had its target price increased by Barclays from $213.00 to $216.00 in a report released on Monday morning, Marketbeat reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

CVX has been the subject of several other reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research note on Friday, July 10th. 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 report on Thursday, July 2nd. TD Cowen raised their price target on Chevron from $197.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Sanford C. Bernstein cut their price target on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research note on Monday, May 11th. Finally, Zacks Research lowered shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $207.48.

Chevron Stock Down 2.1%

CVX stock opened at $186.48 on Monday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $182.18 and its 200 day moving average price is $185.64. Chevron has a 52 week low of $146.49 and a 52 week high of $214.71. The company has a market cap of $371.40 billion, a P/E ratio of 17.88, a P/E/G ratio of 0.59 and a beta of 0.49.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. The company had revenue of $67.20 billion during the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.14%. The firm’s quarterly revenue was up 57.4% compared to the same quarter last year. During the same period last year, the company posted $1.77 earnings per share. On average, research analysts expect that Chevron will post 15.72 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a $1.78 dividend. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, August 19th. Chevron’s dividend payout ratio is currently 68.26%.

Insider Buying and Selling

In related news, Director John B. Hess sold 100,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.26, for a total value of $19,426,000.00. Following the completion of the transaction, the director owned 178,045 shares of the company’s stock, valued at approximately $34,587,021.70. The trade was a 35.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 1,190,665 shares of company stock worth $230,782,076. Company insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Chevron

Several institutional investors and hedge funds have recently bought and sold shares of CVX. Curtis Advisory Group LLC bought a new stake in shares of Chevron in the fourth quarter valued at about $1,381,000. Indivisible Partners acquired a new position in Chevron in the 4th quarter valued at approximately $1,923,000. Janney Montgomery Scott LLC raised its holdings in Chevron by 6.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,251,102 shares of the oil and gas company’s stock valued at $258,853,000 after acquiring an additional 79,439 shares in the last quarter. Galaxy Digital Inc. bought a new stake in shares of Chevron in the 1st quarter worth approximately $2,028,000. Finally, Nations Financial Group Inc. IA ADV lifted its position in shares of Chevron by 35.0% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 42,882 shares of the oil and gas company’s stock worth $6,536,000 after acquiring an additional 11,120 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s strong second-quarter performance continues to support the investment case: revenue reached approximately $70.1 billion, net income was $12.1 billion, production increased, and the company maintained its $1.78 quarterly dividend. Higher oil prices and refining margins boosted results. Chevron war-boosted margins and cash flows article
• Positive Sentiment: Chevron was cited among S&P 500 companies expected to generate substantial free cash flow this year, reinforcing its ability to fund dividends, buybacks and debt obligations. Its above-average income yield also makes the stock attractive to dividend-focused investors. Stocks with strong cash flow article
• Positive Sentiment: TD Cowen raised its Chevron price target from $200 to $205, while separate reports indicated that Barclays and Sanford C. Bernstein analysts also expect the shares to rise. However, TD Cowen retained a “hold” rating, limiting the bullish impact. TD Cowen price target report
• Neutral Sentiment: CEO Mike Wirth said Chevron is studying a pipeline route through Iraq toward Syria or Turkey to bypass the Strait of Hormuz. The project could improve Middle East export flexibility, but it remains only under evaluation and faces significant geopolitical and execution risks. Chevron pipeline route article
• Negative Sentiment: Director John B. Hess sold a combined 810,665 Chevron shares worth roughly $157.4 million, sharply reducing his holdings. Although insider sales may reflect personal or transaction-related factors, the size of the sale can weigh on investor sentiment. Chevron SEC insider transaction filing
• Negative Sentiment: President Donald Trump criticized Chevron and ExxonMobil for profiting from elevated gasoline prices and called for companies to reduce consumer fuel prices or return some profits to the public. The comments raise regulatory, political and potential windfall-tax concerns, even though higher energy prices are currently benefiting Chevron’s earnings. Trump criticizes Chevron over profits article

About Chevron

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.