Brokerages Set Chevron Corporation (NYSE:CVX) PT at $204.13

Chevron Corporation (NYSE:CVX) has earned an average rating of “Moderate Buy” from the twenty-five ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $204.1304.

Several equities analysts have recently issued reports on the stock. Scotiabank boosted their price target on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. BMO Capital Markets reissued an “outperform” rating and issued a $190.00 price target on shares of Chevron in a report on Monday, February 2nd. JPMorgan Chase & Co. raised shares of Chevron from a “neutral” rating to an “overweight” rating and set a $176.00 price target for the company in a report on Tuesday, January 20th. Tudor Pickering raised shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a report on Thursday, April 9th. Finally, HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a report on Friday, March 20th.

Insider Activity

In other Chevron news, Vice Chairman Mark A. Nelson sold 139,600 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the transaction, the insider owned 11,337 shares in the company, valued at approximately $2,130,449.04. This represents a 92.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hess sold 195,000 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $184.78, for a total value of $36,032,100.00. Following the transaction, the director owned 658,045 shares of the company’s stock, valued at approximately $121,593,555.10. This trade represents a 22.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 803,570 shares of company stock worth $151,969,798. 0.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chevron

A number of large investors have recently added to or reduced their stakes in the company. Cornerstone Advisory LLC boosted its stake in shares of Chevron by 0.9% during the 1st quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company’s stock worth $1,164,000 after buying an additional 52 shares during the last quarter. Compton Financial Group LLC boosted its stake in shares of Chevron by 1.9% during the 1st quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company’s stock worth $609,000 after buying an additional 56 shares during the last quarter. Quantum Portfolio Management LLC boosted its stake in shares of Chevron by 2.7% during the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company’s stock worth $435,000 after buying an additional 56 shares during the last quarter. Wealthspire Retirement LLC boosted its stake in shares of Chevron by 0.9% during the 1st quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company’s stock worth $1,351,000 after buying an additional 56 shares during the last quarter. Finally, D.B. Root & Company LLC boosted its stake in shares of Chevron by 1.0% during the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company’s stock worth $846,000 after buying an additional 57 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron agreed to sell some Asia-Pacific downstream assets and its SRC stake to Japan’s ENEOS for about $2.2 billion, a move that should help streamline the portfolio and unlock cash for higher-return uses. Article Title
• Positive Sentiment: Chevron’s CEO warning about possible physical oil shortages added to the bullish backdrop for energy prices, which can support upstream earnings and cash flow. Article Title
• Positive Sentiment: Unusually heavy call-option buying suggests traders are positioning for more upside in Chevron shares, often a sign of growing short-term optimism.
• Positive Sentiment: Recent commentary also highlighted Chevron as a trending and potentially attractive dividend stock, reinforcing the view that investors see it as a defensive income name with upside potential. Article Title
• Neutral Sentiment: Brokerage optimism and “buy” discussions from analysts may be supporting interest in the stock, but the article itself did not point to a new rating change or specific catalyst. Article Title

Chevron Price Performance

Shares of CVX stock opened at $196.08 on Friday. Chevron has a 12-month low of $133.77 and a 12-month high of $214.71. The firm has a market capitalization of $390.52 billion, a price-to-earnings ratio of 33.98, a price-to-earnings-growth ratio of 0.64 and a beta of 0.51. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average of $193.26 and a 200-day moving average of $173.68.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. During the same quarter in the previous year, the business earned $2.18 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Chevron will post 15.43 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be issued a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, May 19th. Chevron’s dividend payout ratio is 123.40%.

Chevron Company Profile

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.