Analysts Set Chevron Corporation (NYSE:CVX) Price Target at $165.05

Chevron Corporation (NYSE:CVX) has been assigned a consensus rating of “Hold” from the twenty-three analysts that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $165.05.

Several analysts recently commented on the stock. Melius began coverage on shares of Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Barclays reiterated an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Piper Sandler boosted their price target on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Bank of America upped their price objective on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Finally, Scotiabank reissued a “sector perform” rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th.

Chevron Stock Up 0.1%

CVX stock opened at $153.59 on Friday. Chevron has a 1-year low of $132.04 and a 1-year high of $168.96. The business’s 50 day simple moving average is $156.23 and its 200 day simple moving average is $148.87. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $265.40 billion, a PE ratio of 19.77, a PEG ratio of 1.99 and a beta of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the previous year, the business posted $2.55 earnings per share. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, research analysts anticipate that Chevron will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron’s payout ratio is currently 88.03%.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction on Friday, August 29th. The stock was 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 directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chevron

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harvest Fund Management Co. Ltd lifted its stake in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP bought a new position in shares of Chevron in the 1st quarter valued at $31,000. Quaker Wealth Management LLC raised its holdings in shares of Chevron by 197.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after buying an additional 439 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its position in shares of Chevron by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after buying an additional 118 shares during the last quarter. Finally, IMG Wealth Management Inc. lifted its position in shares of Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after buying an additional 91 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.