Chevron (NYSE:CVX) Price Target Raised to $174.00 at Raymond James

Chevron (NYSE:CVX) had its target price hoisted by Raymond James from $170.00 to $174.00 in a research report report published on Monday, Benzinga reports. Raymond James currently has an outperform rating on the oil and gas company’s stock.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada lifted their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an outperform rating in a report on Monday, February 5th. Truist Financial cut their price objective on Chevron from $168.00 to $156.00 and set a hold rating on the stock in a research report on Friday, April 5th. TD Cowen lowered Chevron from an outperform rating to a market perform rating and decreased their target price for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Mizuho upped their price target on Chevron from $195.00 to $200.00 and gave the stock a buy rating in a report on Wednesday, March 20th. Finally, Scotiabank upgraded Chevron from a sector perform rating to a sector outperform rating and lifted their price objective for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $184.75.

Chevron Trading Up 0.7 %

CVX opened at $157.49 on Monday. Chevron has a 52 week low of $139.62 and a 52 week high of $172.38. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $155.26 and a 200-day simple moving average of $151.90. The firm has a market cap of $292.50 billion, a P/E ratio of 13.86, a P/E/G ratio of 2.30 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron’s revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.09 EPS. On average, equities analysts expect that Chevron will post 13.56 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.14%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Chevron

Large investors have recently bought and sold shares of the business. Picton Mahoney Asset Management acquired a new position in Chevron in the 3rd quarter valued at about $26,000. Bare Financial Services Inc acquired a new position in shares of Chevron in the fourth quarter valued at approximately $27,000. Valley Forge Investment Consultants Inc. ADV raised its stake in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth $30,000. Finally, Valued Wealth Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth $33,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

About Chevron

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.