Chevron (NYSE:CVX) Price Target Raised to $265.00

Chevron (NYSE:CVX) had its target price boosted by UBS Group from $235.00 to $265.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock.

Several other equities research analysts have also recently weighed in on CVX. Morgan Stanley upped their price objective on shares of Chevron from $226.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday. William Blair initiated coverage on shares of Chevron in a report on Wednesday, October 28th. They issued an “outperform” rating on the stock. HSBC set a $90.00 target price on shares of Chevron in a report on Friday, September 25th. Jefferies Financial Group upped their price target on shares of Chevron from $216.00 to $233.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Finally, Raymond James Financial reduced their price target on shares of Chevron from $230.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.04.

Chevron Stock Performance

CVX opened at $216.94 on Monday. The firm has a market cap of $428.63 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 0.53 and a beta of 0.47. Chevron has a 52-week low of $146.49 and a 52-week high of $236.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The business’s fifty day moving average is $214.40 and its 200-day moving average is $193.93.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.87 by $0.41. The company had revenue of $65.24 billion for the quarter, compared to analysts’ expectations of $61.82 billion. Chevron had a return on equity of 14.64% and a net margin of 11.56%. Chevron’s revenue was up 36.3% on a year-over-year basis. During the same quarter last year, the business earned $1.85 earnings per share. Sell-side analysts expect that Chevron will post 18.26 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 18th will be issued a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.3%. Chevron’s payout ratio is 52.08%.

Insider Buying and Selling

In other Chevron news, insider R. Pate sold 40,700 shares of Chevron stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $226.65, for a total value of $9,224,655.00. Following the transaction, the insider owned 8,791 shares in the company, valued at $1,992,480.15. The trade was a 82.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Andrew Walz sold 16,800 shares of Chevron stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the transaction, the insider owned 14 shares in the company, valued at approximately $2,814.84. This represents a 99.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 379,470 shares of company stock worth $77,216,415 in the last ninety days. 0.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Chevron during the second quarter valued at about $25,663,729,000. Bank of New York Mellon Corp acquired a new position in shares of Chevron in the second quarter valued at approximately $2,378,114,000. Legal & General Group Plc acquired a new position in shares of Chevron in the second quarter valued at approximately $1,462,412,000. Deutsche Bank AG acquired a new position in shares of Chevron in the second quarter valued at approximately $1,189,577,000. Finally, State Street Corp increased its stake in shares of Chevron by 3.9% in the second quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock valued at $28,016,651,000 after buying an additional 5,998,852 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s third-quarter results were highlighted as strong, with refining strength and cost discipline supporting debt reduction and increased share buybacks. These actions may support shareholder returns. Why ExxonMobil and Chevron Reminded Investors to Keep it Simple
• Positive Sentiment: Chevron advanced talks on Iraq’s West Qurna 2 oilfield and is pursuing additional exploration opportunities, potentially expanding its upstream growth prospects. Chevron Advances Iraq Oilfield Deal, Expands Growth Prospects
• Negative Sentiment: Oil stocks, including Chevron, sold off after Democrats won the Senate in the midterm elections. The market reaction put pressure on the sector, rather than reflecting a newly reported problem at Chevron. Oil Stocks Take a Beating on Midterm Results
• Negative Sentiment: Commentary that oil’s price surge may have peaked—and that crude may not return to $100—added to concerns about future energy-sector earnings. The article also notes that a sudden geopolitical shock could reverse that outlook. What Election Night Could Mean for Energy Stocks

About Chevron

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.