Analysts Set Chevron Co. (NYSE:CVX) Target Price at $175.19

Chevron Co. (NYSE:CVX) has earned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $174.60.

A number of analysts have issued reports on CVX shares. Barclays lifted their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Mizuho decreased their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Finally, Truist Financial upped their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Friday, December 6th.

Chevron Price Performance

Shares of Chevron stock opened at $149.58 on Wednesday. The company has a market capitalization of $268.81 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.93 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock’s 50-day simple moving average is $153.63 and its 200-day simple moving average is $151.10. Chevron has a 52 week low of $135.37 and a 52 week high of $167.11.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.05 EPS. As a group, analysts expect that Chevron will post 10.5 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.36%. Chevron’s payout ratio is 71.65%.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

Large investors have recently added to or reduced their stakes in the company. Lantz Financial LLC boosted its position in shares of Chevron by 2.7% in the 2nd quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock worth $3,650,000 after purchasing an additional 623 shares in the last quarter. Klingenstein Fields & Co. LP increased its holdings in shares of Chevron by 1.2% during the second quarter. Klingenstein Fields & Co. LP now owns 59,525 shares of the oil and gas company’s stock valued at $9,311,000 after acquiring an additional 702 shares in the last quarter. YHB Investment Advisors Inc. raised its position in shares of Chevron by 2.6% in the 2nd quarter. YHB Investment Advisors Inc. now owns 32,034 shares of the oil and gas company’s stock valued at $5,011,000 after purchasing an additional 807 shares during the last quarter. TIAA Trust National Association boosted its stake in Chevron by 9.8% in the 2nd quarter. TIAA Trust National Association now owns 217,066 shares of the oil and gas company’s stock worth $33,953,000 after purchasing an additional 19,358 shares in the last quarter. Finally, Allegheny Financial Group LTD grew its position in Chevron by 5.2% during the 2nd quarter. Allegheny Financial Group LTD now owns 9,092 shares of the oil and gas company’s stock worth $1,422,000 after purchasing an additional 451 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

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.