Chevron Corporation (NYSE:CVX) Stock Has Consensus Price Target of $221.88 According to Analysts

Chevron Corporation (NYSE:CVX) has been assigned an average recommendation of “Moderate Buy” from the thirty-one brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $221.88.

CVX has been the topic of several recent research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $241.00 price target on shares of Chevron in a report on Tuesday, October 20th. Wall Street Zen raised shares of Chevron from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Jefferies Financial Group raised their price objective on shares of Chevron from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Royal Bank Of Canada upped their target price on shares of Chevron from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, September 24th. Finally, HSBC set a $90.00 price objective on Chevron in a report on Friday, September 25th.

Chevron Trading Down 0.8%

NYSE:CVX opened at $210.91 on Friday. The firm has a fifty day simple moving average of $215.09 and a two-hundred day simple moving average of $194.63. Chevron has a 12 month low of $146.49 and a 12 month high of $236.48. The stock has a market capitalization of $416.71 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 0.51 and a beta of 0.47. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.87 by $0.41. The company had revenue of $65.24 billion for the quarter, compared to analysts’ expectations of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The business’s revenue was up 36.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 EPS. Analysts expect that Chevron will post 18.56 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be issued a dividend of $1.78 per share. The ex-dividend date is Wednesday, November 18th. This represents a $7.12 annualized dividend and a yield of 3.4%. Chevron’s dividend payout ratio is 52.08%.

Insider Activity at Chevron

In related news, CEO Michael Wirth sold 317,100 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $200.46, for a total value of $63,565,866.00. Following the completion of the sale, the chief executive officer directly owned 26,308 shares of the company’s stock, valued at approximately $5,273,701.68. This represents a 92.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider R. Pate sold 40,700 shares of Chevron stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the transaction, the insider directly owned 8,791 shares in the company, valued at $1,992,480.15. This represents a 82.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 379,470 shares of company stock valued at $77,216,415. 0.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Main Street Group LTD bought a new position in shares of Chevron during the 1st quarter worth approximately $28,000. Kilter Group LLC purchased a new stake in shares of Chevron during the second quarter valued at approximately $28,000. Principia Wealth Advisory LLC lifted its holdings in Chevron by 49.6% during the second quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 60 shares during the period. Strategic Wealth Advisors LLC purchased a new position in Chevron in the second quarter worth $33,000. Finally, Burk Holdings LLC purchased a new stake in shares of Chevron during the 2nd quarter valued at $42,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

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.