Chevron (NYSE:CVX) Price Target Raised to $204.00 at Piper Sandler

Chevron (NYSE:CVX) had its price objective boosted by Piper Sandler from $180.00 to $204.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

CVX has been the subject of a number of other research reports. Jefferies Financial Group upgraded shares of Chevron from a hold rating to a buy rating and set a $184.00 price target for the company in a research note on Monday, January 8th. Scotiabank upgraded shares of Chevron from a sector perform rating to a sector outperform rating and boosted their target price for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Barclays initiated coverage on shares of Chevron in a research note on Wednesday, April 10th. They set an overweight rating and a $203.00 target price for the company. The Goldman Sachs Group reiterated a buy rating on shares of Chevron in a research note on Monday, April 1st. Finally, UBS Group boosted their target price on shares of Chevron from $185.00 to $197.00 and gave the company a buy rating in a research note on Tuesday, April 9th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $184.75.

Chevron Stock Up 0.7 %

Shares of NYSE:CVX opened at $157.49 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The company 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 PE ratio of 13.86, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. Chevron has a 12-month low of $139.62 and a 12-month high of $172.38.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The business had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business’s revenue was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.09 earnings per share. On average, equities research analysts anticipate that Chevron will post 13.27 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.14%. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is presently 57.39%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Chevron

Several institutional investors have recently bought and sold shares of the stock. Carret Asset Management LLC lifted its holdings in Chevron by 2.1% in the first quarter. Carret Asset Management LLC now owns 82,532 shares of the oil and gas company’s stock worth $13,019,000 after purchasing an additional 1,712 shares during the period. Monument Capital Management lifted its holdings in Chevron by 22.6% in the first quarter. Monument Capital Management now owns 6,795 shares of the oil and gas company’s stock worth $1,072,000 after purchasing an additional 1,253 shares during the period. Sloy Dahl & Holst LLC lifted its holdings in Chevron by 3.4% in the 1st quarter. Sloy Dahl & Holst LLC now owns 4,087 shares of the oil and gas company’s stock valued at $645,000 after acquiring an additional 135 shares during the last quarter. Tower Wealth Partners Inc. lifted its holdings in Chevron by 3.5% in the 1st quarter. Tower Wealth Partners Inc. now owns 3,727 shares of the oil and gas company’s stock valued at $588,000 after acquiring an additional 126 shares during the last quarter. Finally, Silverlake Wealth Management LLC lifted its holdings in Chevron by 2.3% in the 1st quarter. Silverlake Wealth Management LLC now owns 10,026 shares of the oil and gas company’s stock valued at $1,581,000 after acquiring an additional 221 shares during the last quarter. 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.