Chevron (NYSE:CVX) Stock Price Up 1.2%

Shares of Chevron Co. (NYSE:CVXGet Free Report) shot up 1.2% on Monday . The stock traded as high as $157.31 and last traded at $156.47. 1,554,793 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 8,766,339 shares. The stock had previously closed at $154.66.

Analysts Set New Price Targets

Several brokerages have weighed in on CVX. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Scotiabank lowered Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price on the stock. in a research report on Tuesday, January 16th. Mizuho upped their target price on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Tuesday, February 6th. Finally, Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Monday, January 8th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $180.39.

Read Our Latest Stock Analysis on CVX

Chevron Price Performance

The stock has a 50-day simple moving average of $151.11 and a 200 day simple moving average of $152.73. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The company has a market cap of $288.45 billion, a P/E ratio of 13.67, a P/E/G ratio of 2.40 and a beta of 1.12.

Chevron (NYSE:CVXGet Free Report) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter last year, the company earned $4.09 EPS. The company’s quarterly revenue was down 16.5% on a year-over-year basis. On average, equities analysts expect that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.20%. Chevron’s dividend payout ratio is presently 57.39%.

Hedge Funds Weigh In On Chevron

Hedge funds have recently modified their holdings of the stock. Picton Mahoney Asset Management acquired a new position in shares of Chevron in the 3rd quarter worth approximately $26,000. Bare Financial Services Inc acquired a new stake in Chevron during the 4th quarter valued at $27,000. Valley Forge Investment Consultants Inc. ADV increased its holdings in Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at $30,000. Finally, DHJJ Financial Advisors Ltd. acquired a new stake in Chevron during the 3rd quarter valued at $35,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Company Profile

(Get Free Report)

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.

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