Shares of Chevron Co. (NYSE:CVX – Get Rating) have earned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $180.11.
A number of research analysts have recently weighed in on the company. Citigroup lifted their price target on Chevron from $155.00 to $180.00 in a report on Tuesday. Wells Fargo & Company lifted their price target on Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, August 1st. Cowen lifted their price target on Chevron from $160.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, October 31st. Piper Sandler lifted their price objective on Chevron from $186.00 to $206.00 and gave the company an “overweight” rating in a research report on Friday, November 11th. Finally, Cowen lifted their price objective on Chevron from $160.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, October 31st.
Chevron Stock Performance
Shares of CVX stock opened at $185.89 on Friday. Chevron has a 1-year low of $110.73 and a 1-year high of $189.68. The company has a current ratio of 1.40, a quick ratio of 1.15 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $359.44 billion, a price-to-earnings ratio of 10.57, a P/E/G ratio of 0.65 and a beta of 1.21. The stock’s fifty day simple moving average is $167.70 and its 200-day simple moving average is $161.48.
Chevron Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Friday, November 18th will be given a $1.42 dividend. The ex-dividend date is Thursday, November 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.06%. Chevron’s dividend payout ratio is currently 32.31%.
Insider Buying and Selling
In related news, VP R. Hewitt Pate sold 32,391 shares of the business’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $180.00, for a total transaction of $5,830,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP R. Hewitt Pate sold 32,391 shares of the business’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $180.00, for a total transaction of $5,830,380.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alice P. Gast sold 2,706 shares of the business’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $179.44, for a total value of $485,564.64. Following the transaction, the director now owns 21,964 shares in the company, valued at $3,941,220.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 210,397 shares of company stock valued at $36,962,020. Insiders own 0.32% of the company’s stock.
Hedge Funds Weigh In On Chevron
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Chevron by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 167,767,288 shares of the oil and gas company’s stock valued at $27,317,547,000 after purchasing an additional 4,367,157 shares during the period. Northern Trust Corp lifted its stake in shares of Chevron by 1.5% in the 2nd quarter. Northern Trust Corp now owns 25,219,717 shares of the oil and gas company’s stock valued at $3,651,311,000 after purchasing an additional 371,458 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Chevron by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock valued at $2,393,138,000 after buying an additional 189,762 shares in the last quarter. Legal & General Group Plc increased its holdings in Chevron by 16.3% during the 2nd quarter. Legal & General Group Plc now owns 13,569,692 shares of the oil and gas company’s stock worth $1,964,620,000 after purchasing an additional 1,899,104 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Chevron by 7.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 12,052,751 shares of the oil and gas company’s stock worth $1,731,739,000 after purchasing an additional 847,841 shares in the last quarter. 69.30% of the stock is currently owned by institutional investors.
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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