Chevron Corporation (NYSE:CVX) Receives Average Recommendation of “Hold” from Analysts

Chevron Corporation (NYSE:CVX) has been given an average recommendation of “Hold” by the twenty-three research firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $165.5789.

Several equities research analysts have weighed in on CVX shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Melius assumed coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Scotiabank upped their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Piper Sandler cut their price target on Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a report on Monday, November 10th. Finally, Raymond James Financial restated an “outperform” rating and set a $160.00 price objective (down previously from $170.00) on shares of Chevron in a report on Friday, October 17th.

Insider Activity at Chevron

In related news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the sale, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. This represents a 19.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is currently owned by insiders.

Institutional Trading of Chevron

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd raised its position in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 122 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of Chevron in the first quarter valued at about $31,000. Quaker Wealth Management LLC raised its holdings in shares of Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares during the last quarter. Decker Retirement Planning Inc. bought a new position in shares of Chevron during the third quarter valued at about $34,000. Finally, Vermillion & White Wealth Management Group LLC boosted its holdings in Chevron by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 118 shares during the last quarter. 72.42% of the stock is owned by institutional investors.

Chevron Trading Up 1.1%

CVX stock traded up $1.70 during mid-day trading on Friday, reaching $151.21. The company’s stock had a trading volume of 3,848,568 shares, compared to its average volume of 8,826,867. Chevron has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average price is $153.97 and its 200 day moving average price is $151.16. The company has a market cap of $304.46 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter last year, the firm posted $2.48 EPS. The company’s quarterly revenue was down 1.9% on a year-over-year basis. On average, equities research analysts predict that Chevron will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $1.71 per share. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s dividend payout ratio is presently 96.20%.

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.