Analysts Set Chevron Co. (NYSE:CVX) Price Target at $163.75

Chevron Co. (NYSE:CVX) has been given a consensus recommendation of “Hold” by the seventeen research firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $161.25.

A number of analysts have recently weighed in on CVX shares. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Redburn Atlantic reissued a “sell” rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. UBS Group cut their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Finally, DZ Bank cut Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research note on Tuesday.

Chevron Stock Up 1.0 %

Shares of NYSE:CVX opened at $137.21 on Tuesday. Chevron has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock’s 50-day moving average is $148.18 and its 200 day moving average is $152.14. The company has a market cap of $241.57 billion, a PE ratio of 14.12, a P/E/G ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the firm earned $2.93 earnings per share. Chevron’s revenue was down 2.3% on a year-over-year basis. Sell-side analysts anticipate that Chevron will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.99%. Chevron’s payout ratio is 78.17%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CVX. Geode Capital Management LLC boosted its position in shares of Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock worth $5,247,142,000 after purchasing an additional 392,916 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Chevron by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after buying an additional 746,806 shares during the period. Norges Bank purchased a new stake in Chevron in the 4th quarter worth $3,017,750,000. Northern Trust Corp raised its holdings in Chevron by 7.3% during the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock valued at $2,965,135,000 after acquiring an additional 1,394,091 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Chevron by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company’s stock valued at $2,881,280,000 after acquiring an additional 410,460 shares in the last quarter. Hedge funds and other institutional investors 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.