Chevron Co. (NYSE:CVX) Receives $173.07 Consensus Price Target from Analysts

Shares of Chevron Co. (NYSE:CVX) have been assigned an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and twelve have assigned 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 $173.07.

CVX has been the subject of several recent research reports. Scotiabank dropped their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Bank of America started coverage on Chevron in a research note on Thursday. They issued a “buy” rating and a $168.00 price target on the stock. Truist Financial cut their price objective on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Finally, Wells Fargo & Company lowered their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th.

Chevron Stock Performance

CVX opened at $150.75 on Friday. The stock has a market cap of $277.83 billion, a PE ratio of 13.87, a P/E/G ratio of 2.74 and a beta of 1.09. Chevron has a 1 year low of $135.37 and a 1 year high of $170.17. The stock’s 50 day simple moving average is $146.07 and its 200-day simple moving average is $153.62. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $3.08 EPS. Sell-side analysts forecast that Chevron will post 11.06 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.33%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Stolper Co lifted its stake in shares of Chevron by 4.6% during the first quarter. Stolper Co now owns 50,224 shares of the oil and gas company’s stock valued at $7,922,000 after acquiring an additional 2,226 shares during the period. Welch Group LLC raised its holdings in Chevron by 5.1% during the 1st quarter. Welch Group LLC now owns 372,870 shares of the oil and gas company’s stock worth $58,817,000 after purchasing an additional 18,014 shares during the last quarter. Richard P Slaughter Associates Inc acquired a new position in Chevron during the 1st quarter valued at about $2,194,000. Ellenbecker Investment Group boosted its stake in shares of Chevron by 1.5% in the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after purchasing an additional 65 shares during the last quarter. Finally, Safeguard Financial LLC acquired a new stake in shares of Chevron during the 1st quarter worth approximately $210,000. Institutional investors 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.