Chevron Corporation (NYSE:CVX) Stock Has Average Target Price of $213.08 According to Brokerages

Shares of Chevron Corporation (NYSE:CVX) have received a consensus rating of “Moderate Buy” from the twenty-eight brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-one have assigned 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 $213.42.

Several equities analysts recently commented on CVX shares. UBS Group increased their price objective on shares of Chevron from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, October 8th. Zacks Research raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Weiss Ratings raised shares of Chevron from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday. BNP Paribas Exane cut their price target on shares of Chevron from $230.00 to $224.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Finally, Sanford C. Bernstein raised their price target on shares of Chevron from $204.00 to $209.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Morgan Stanley raised its Chevron price target to $226 from $218 and assigned an “overweight” rating, while Wells Fargo reportedly initiated or reiterated a “buy” recommendation. These upgrades reinforce bullish sentiment, although Morgan Stanley’s revised target implies limited additional upside from current levels. Morgan Stanley raises Chevron price target
• Positive Sentiment: Chevron was selected as a relative-strength stock by Zacks, reflecting strong recent price performance and improving earnings estimates. The company is also receiving attention as a long-term and dividend-oriented investment, which may attract additional income-focused investors. Zacks relative strength stock picks
• Positive Sentiment: Wall Street expects a sharp year-over-year increase in Chevron’s third-quarter earnings, with results due by the end of October. Anticipation of stronger profits is helping sustain interest ahead of the report. Chevron earnings expectations
• Neutral Sentiment: Diamond Hill Capital highlighted Chevron in its third-quarter investor letter after its large-cap strategy outperformed the Russell 1000 Value Index. The item indicates institutional interest but does not represent a new company announcement or change in fundamentals. Diamond Hill Chevron investment discussion
• Negative Sentiment: CEO Mike Wirth warned that commercial inventories, emergency reserves and previously sanctioned oil supplies have been depleted following the Iran-related shock. While tighter supply could support crude prices and Chevron’s upstream revenue, it also raises geopolitical, refining and diesel-price risks. Chevron CEO warns oil buffers are depleted

Insider Activity at Chevron

In related news, insider Andrew Walz sold 16,800 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the transaction, the insider directly owned 14 shares of the company’s stock, valued at $2,814.84. This represents a 99.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R. Pate sold 2,470 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $205.11, for a total value of $506,621.70. Following the completion of the transaction, the insider directly owned 10,794 shares in the company, valued at approximately $2,213,957.34. The trade was a 18.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,152,582 shares of company stock valued at $225,853,661 over the last three months. 0.56% of the stock is owned by corporate insiders.

Institutional Trading of Chevron

Several large investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in Chevron by 3.9% in the second quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock valued at $28,016,651,000 after buying an additional 5,998,852 shares during the last quarter. BlackRock Inc. acquired a new position in Chevron in the 2nd quarter worth approximately $25,663,729,000. Berkshire Hathaway Inc raised its position in Chevron by 6.6% during the 4th quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock worth $19,837,131,000 after buying an additional 8,091,570 shares during the last quarter. Bank of America Corp DE raised its position in Chevron by 5.1% during the 1st quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock worth $5,716,694,000 after buying an additional 1,334,976 shares during the last quarter. Finally, Invesco Ltd. raised its position in Chevron by 1.5% during the 4th quarter. Invesco Ltd. now owns 17,119,575 shares of the oil and gas company’s stock worth $2,609,194,000 after buying an additional 254,323 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $225.00 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The company has a market cap of $444.55 billion, a PE ratio of 21.57, a P/E/G ratio of 0.61 and a beta of 0.53. The business has a 50-day simple moving average of $207.58 and a two-hundred day simple moving average of $193.51. Chevron has a fifty-two week low of $146.49 and a fifty-two week high of $225.31.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.51. Chevron had a return on equity of 11.09% and a net margin of 9.57%. The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same quarter in the previous year, the firm earned $1.77 earnings per share. The company’s revenue was up 57.4% on a year-over-year basis. As a group, equities analysts expect that Chevron will post 17.71 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were issued a dividend of $1.78 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.2%. Chevron’s payout ratio is 68.26%.

About Chevron

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.