Chevron (NYSE:CVX) Given New $160.00 Price Target at TD Cowen

Chevron (NYSE:CVX) had its price target boosted by TD Cowen from $155.00 to $160.00 in a research report report published on Monday, Marketbeat reports. They currently have a hold rating on the oil and gas company’s stock.

CVX has been the topic of several other reports. Scotiabank raised shares of Chevron from a sector perform rating to a sector outperform rating and increased their price objective for the company from $170.00 to $195.00 in a report on Thursday, April 11th. UBS Group increased their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a buy rating in a report on Tuesday, April 9th. Wells Fargo & Company boosted their target price on Chevron from $185.00 to $198.00 and gave the stock an overweight rating in a report on Thursday, April 4th. Jefferies Financial Group raised Chevron from a hold rating to a buy rating and set a $184.00 price target for the company in a report on Monday, January 8th. Finally, DZ Bank downgraded Chevron from a buy rating to a hold rating and set a $160.00 price objective on the stock. in a research report on Tuesday, February 6th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $185.25.

Chevron Stock Up 0.3 %

Shares of CVX stock opened at $166.34 on Monday. The stock has a market cap of $308.94 billion, a P/E ratio of 15.30, a P/E/G ratio of 2.44 and a beta of 1.12. Chevron has a twelve month low of $139.62 and a twelve month high of $171.70. The stock has a 50 day moving average of $156.81 and a 200 day moving average of $151.70. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.55 EPS. As a group, sell-side analysts expect that Chevron will post 13.58 EPS for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chevron

A number of institutional investors and hedge funds have recently bought and sold shares of CVX. Vanguard Group Inc. lifted its stake in Chevron by 0.3% in the third quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after buying an additional 458,080 shares during the last quarter. Berkshire Hathaway Inc increased its stake in Chevron by 14.4% in the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after purchasing an additional 15,845,037 shares during the period. Morgan Stanley boosted its stake in shares of Chevron by 7.0% during the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after buying an additional 2,244,995 shares during the period. Charles Schwab Investment Management Inc. increased its position in Chevron by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after acquiring an additional 1,999,332 shares during the period. Finally, Northern Trust Corp raised its stake in Chevron by 2.6% during the 3rd quarter. Northern Trust Corp now owns 22,705,118 shares of the oil and gas company’s stock valued at $3,828,537,000 after acquiring an additional 569,850 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

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.