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

Shares of Chevron Corporation (NYSE:CVX) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-six research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $205.7083.

CVX has been the subject of several analyst reports. Piper Sandler lifted their price objective on Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Sanford C. Bernstein reduced their target price on Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. Morgan Stanley decreased their price target on Chevron from $214.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Chevron in a research note on Tuesday, May 5th. Finally, UBS Group reaffirmed a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Bank of America reportedly sees Chevron as a preferred way to play a potential crude price surge if tensions around the Strait of Hormuz keep oil prices elevated. CVX Stock Has A New Bull Case — Why Bank Of America Favors Chevron Over Exxon As Hormuz Risks Push Oil Prices Higher
• Positive Sentiment: Chevron announced a licensing agreement for its enhanced oil recovery technology, which could boost shale production, improve recovery rates, and create a new commercialization avenue. Chevron offers rival drillers its chemical technology to boost shale oil output
• Positive Sentiment: Media coverage highlighted Chevron’s exposure to higher crude prices as geopolitical risk in the Middle East increased, improving the earnings outlook for integrated oil producers. Ceasefire Cracks, Oil Bounces: Why Exxon, Chevron Stocks Are Hot Again
• Neutral Sentiment: Several articles frame Chevron as a long-term dividend and blue-chip energy holding, but these are mostly opinion pieces rather than new catalysts. ExxonMobil vs. Chevron: Which Oil Dividend Stock is the Better Buy for a Lifetime of Passive Income
• Neutral Sentiment: Coverage around Chevron’s inclusion in the Dow and broader energy-sector technical signals may support investor interest, but they do not appear to be immediate stock-moving events. What Keeps Chevron (NYSE:CVX) in the Dow Jones Industrial Average?
• Negative Sentiment: Chevron was also mentioned in connection with a DOJ probe tied to allegations of oil-price gouging, which could add regulatory overhang even as higher oil prices improve profit potential. Chevron (CVX) Faces DOJ Probe As Iran Tensions Raise Record Profit Stakes
• Negative Sentiment: Chevron’s tanker used for CPC oil shipments was reportedly hit by a drone in the Black Sea, underscoring geopolitical and operational risk. Chevron tanker used for CPC oil hit by drone in Black Sea

Chevron Stock Performance

NYSE CVX opened at $174.05 on Friday. The firm has a 50-day moving average price of $182.23 and a two-hundred day moving average price of $181.32. Chevron has a 12-month low of $146.49 and a 12-month high of $214.71. The company has a market capitalization of $346.64 billion, a P/E ratio of 30.16, a P/E/G ratio of 0.60 and a beta of 0.50. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $2.18 earnings per share. Analysts anticipate that Chevron will post 15.28 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th were given a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a dividend yield of 4.1%. Chevron’s payout ratio is presently 123.40%.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. This represents a 57.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC bought a new position in shares of Chevron in the 1st quarter valued at $25,000. Core Wealth Advisors LLC bought a new stake in shares of Chevron during the 4th quarter worth $26,000. Phillip James Consulting Co. bought a new stake in shares of Chevron during the 4th quarter worth $26,000. Basso Capital Management L.P. acquired a new stake in Chevron in the fourth quarter valued at about $27,000. Finally, Karpus Management Inc. acquired a new stake in Chevron in the fourth quarter valued at about $27,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.