Chevron (NYSE:CVX) Price Target Raised to $180.00 at Citigroup

Chevron (NYSE:CVXGet Rating) had its target price increased by Citigroup from $155.00 to $180.00 in a research report released on Tuesday morning, The Fly reports.

Other equities analysts also recently issued reports about the stock. Societe Generale raised shares of Chevron from a hold rating to a buy rating in a research note on Thursday, August 4th. Jefferies Financial Group began coverage on shares of Chevron in a report on Wednesday, October 19th. They issued a hold rating on the stock. Cowen upped their price objective on shares of Chevron from $160.00 to $185.00 and gave the stock an outperform rating in a report on Monday, October 31st. Credit Suisse Group restated an outperform rating and issued a $202.00 price objective on shares of Chevron in a report on Thursday, August 11th. Finally, Wells Fargo & Company upped their price objective on shares of Chevron from $181.00 to $185.00 and gave the stock an overweight rating in a report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Chevron currently has a consensus rating of Moderate Buy and an average price target of $179.85.

Chevron Price Performance

CVX stock opened at $185.89 on Tuesday. Chevron has a 1 year low of $110.73 and a 1 year high of $189.68. The company has a market cap of $359.44 billion, a P/E ratio of 10.57, a PEG ratio of 0.65 and a beta of 1.21. The firm has a 50-day moving average of $167.70 and a 200 day moving average of $161.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.40 and a quick ratio of 1.15.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings results on Friday, October 28th. The oil and gas company reported $5.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.22 by $0.34. Chevron had a net margin of 14.36% and a return on equity of 22.36%. The company had revenue of $66.64 billion during the quarter, compared to the consensus estimate of $61.44 billion. During the same period in the prior year, the firm earned $2.96 earnings per share. Chevron’s revenue was up 49.1% on a year-over-year basis. On average, sell-side analysts forecast that Chevron will post 19.09 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 18th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.06%. The ex-dividend date is Thursday, November 17th. Chevron’s dividend payout ratio is currently 32.31%.

Insider Buying and Selling

In related news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total value of $13,990,053.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total value of $13,990,053.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP R. Hewitt Pate sold 32,391 shares of the firm’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $180.00, for a total transaction of $5,830,380.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 210,397 shares of company stock worth $36,962,020. 0.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Continental Investors Services Inc. raised its position in Chevron by 6,301.1% in the third quarter. Continental Investors Services Inc. now owns 100,306 shares of the oil and gas company’s stock worth $15,298,000 after acquiring an additional 98,739 shares during the period. CVA Family Office LLC raised its position in Chevron by 31.1% in the third quarter. CVA Family Office LLC now owns 8,612 shares of the oil and gas company’s stock worth $1,237,000 after acquiring an additional 2,045 shares during the period. IHT Wealth Management LLC raised its position in Chevron by 52.6% in the third quarter. IHT Wealth Management LLC now owns 23,699 shares of the oil and gas company’s stock worth $3,405,000 after acquiring an additional 8,172 shares during the period. Dash Acquisitions Inc. raised its position in Chevron by 75.1% in the third quarter. Dash Acquisitions Inc. now owns 3,175 shares of the oil and gas company’s stock worth $456,000 after acquiring an additional 1,362 shares during the period. Finally, Smith Chas P & Associates PA Cpas raised its position in shares of Chevron by 7.8% during the 3rd quarter. Smith Chas P & Associates PA Cpas now owns 15,271 shares of the oil and gas company’s stock valued at $2,194,000 after purchasing an additional 1,105 shares during the period. 69.30% of the stock is currently owned by institutional investors.

Chevron Company Profile

(Get Rating)

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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