Brokerages Set Chevron Co. (NYSE:CVX) Target Price at $186.10

Chevron Co. (NYSE:CVX) has been given an average recommendation of “Moderate Buy” by the nineteen research firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $186.10.

Several equities research analysts have commented on CVX shares. Truist Financial upped their price target on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a report on Friday, May 10th. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a report on Tuesday, February 6th. TD Cowen boosted their price target on Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Mizuho upped their price objective on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, Raymond James lifted their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, April 15th.

Chevron Trading Down 0.4 %

Shares of NYSE:CVX opened at $156.94 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. Chevron has a 52-week low of $139.62 and a 52-week high of $171.70. The stock has a market cap of $289.87 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 2.36 and a beta of 1.11. The business has a 50-day moving average price of $160.17 and a 200-day moving average price of $152.41.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. Chevron’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the firm posted $3.55 EPS. Equities analysts predict that Chevron will post 13.57 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.15%. Chevron’s payout ratio is currently 59.98%.

Insider Activity

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the sale, the director now directly owns 27,725 shares in the company, valued at $4,581,279. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the transaction, the director now directly owns 27,725 shares in the company, valued at $4,581,279. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders have sold a total of 19,546 shares of company stock worth $3,176,223 over the last quarter. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chevron

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Investment Group LLC grew its holdings in shares of Chevron by 12.7% in the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 697 shares during the period. Camelot Portfolios LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $254,000. Kapstone Financial Advisors LLC raised its position in shares of Chevron by 5.3% during the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after buying an additional 211 shares during the period. Strategic Financial Concepts LLC lifted its holdings in Chevron by 9.0% in the third quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock valued at $974,000 after acquiring an additional 476 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. grew its position in Chevron by 1.7% in the fourth quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock worth $32,307,000 after acquiring an additional 3,603 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

About Chevron

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.