Piper Sandler Raises Chevron (NYSE:CVX) Price Target to $204.00

Chevron (NYSE:CVX) had its price target hoisted by Piper Sandler from $180.00 to $204.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

A number of other brokerages have also weighed in on CVX. The Goldman Sachs Group reissued a buy rating on shares of Chevron in a research note on Monday, April 1st. TD Cowen lowered Chevron from an outperform rating to a market perform rating and decreased their price target for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Mizuho lifted their price target on Chevron from $195.00 to $200.00 and gave the company a buy rating in a report on Wednesday, March 20th. Raymond James raised their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Finally, Royal Bank of Canada upped their price target on shares of Chevron from $185.00 to $190.00 and gave the stock an outperform rating in a research report on Monday, February 5th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Chevron presently has a consensus rating of Moderate Buy and an average price target of $184.75.

Chevron Trading Up 1.5 %

Chevron stock opened at $160.00 on Thursday. The stock has a 50-day moving average price of $155.44 and a 200 day moving average price of $151.75. Chevron has a 52 week low of $139.62 and a 52 week high of $172.38. The stock has a market cap of $297.16 billion, a PE ratio of 14.08, a P/E/G ratio of 2.38 and a beta of 1.12. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings results 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. The business had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.09 earnings per share. Equities research analysts predict that Chevron will post 13.27 earnings per share for the current fiscal 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 paid a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.08%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is 57.39%.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Moneta Group Investment Advisors LLC grew its position in shares of Chevron by 104,997.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock worth $4,395,858,000 after buying an additional 24,467,521 shares in the last quarter. Norges Bank bought a new position in Chevron during the 4th quarter valued at $2,902,007,000. Berkshire Hathaway Inc grew its holdings in Chevron by 14.4% during the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after acquiring an additional 15,845,037 shares in the last quarter. Imprint Wealth LLC increased its position in shares of Chevron by 15,457.0% in the 2nd quarter. Imprint Wealth LLC now owns 5,378,354 shares of the oil and gas company’s stock worth $537,835,000 after purchasing an additional 5,343,782 shares during the last quarter. Finally, Capital World Investors increased its position in shares of Chevron by 43.5% in the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after purchasing an additional 4,700,289 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Company Profile

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.