Brokerages Set Chevron Co. (NYSE:CVX) Target Price at $163.75

Chevron Co. (NYSE:CVX) has received a consensus rating of “Hold” from the seventeen ratings firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $161.25.

A number of brokerages recently commented on CVX. BNP Paribas lowered Chevron to a “cautious” rating in a research report on Tuesday, April 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. TD Cowen decreased their price target on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. Finally, Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $160.00 to $143.00 in a report on Friday, April 11th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Chevron during the fourth quarter worth approximately $3,017,750,000. Nuveen LLC purchased a new stake in shares of Chevron during the first quarter worth approximately $1,362,232,000. Raymond James Financial Inc. purchased a new stake in shares of Chevron during the fourth quarter worth approximately $1,036,302,000. GAMMA Investing LLC increased its position in shares of Chevron by 21,191.5% during the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after purchasing an additional 5,382,847 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company’s stock worth $2,389,380,000 after purchasing an additional 2,432,756 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Price Performance

Shares of NYSE CVX opened at $141.50 on Tuesday. The business’s 50 day moving average price is $147.72 and its 200 day moving average price is $152.01. The firm has a market cap of $249.12 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.46 and a beta of 0.83. Chevron has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. Chevron’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.93 earnings per share. On average, sell-side analysts expect that Chevron will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.83%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s payout ratio is 78.17%.

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.